PC 102302 - Laserfiche WebLink

,-- In a nutshell, the solar bond model works like this: The city issues revenue bonds to raise money to install solar panels, wind turbines, and energy efficiency technologies on city facilities. The electricity generated goes to run city government, and the money that would have been used to buy electricity on the open market goes instead to pay down the bonds. The city gets its own source of reliable, renewable energy, the air gets cleaner, and as the project pays for itself, there is no impact on property taxes. When fully implemented, the San Francisco project will prevent the release of over 90 million pounds a year of greenhouse gases. The first project being implemented in San Francisco is a 688 kilowatt system on the roof of the Moscone Convention Center. The $7.1 million project combining both solar panels and aggressive energy efficient technologies for the building will save over 8 million kilowatts of electricity armually. The simple payback is under ten years, and current estimates, assuming a twenty-five year project lifespan anticipates savings of over $11 million. A solar bond can be a fiscally responsible way for Pleasanton to secure its own source of reliable clean energy. We hope that you will support the adoption of the Draft Pleasanton Energy Plan and help jumpstart the nation's transition to renewable energy." Ms. Hosterman noted that the EAG's efforts have been overwhelmingly supported across the state and the country. THE PUBLIC HEARING WAS CLOSED. .-- Commissioner Sullivan thanked staff and the Energy Advisory Group committee members for their hard work and commitment over the past eighteen months, as well as City Council for establishing the Energy Advisory Group. He believed it was a remarkable achievement, and thanked the Rocky Mountain Institute for developing the process which allowed such a diverse group of people to reach such a consensus in drafting the Plan. Commissioner Sullivan noted that because the residents of Pleasant on did not want a power plant in the city, they asked the City Council to develop a Strategic Energy Plan for the city. In retrospect, he believed it was a wise decision to not allow Enron to build a power plant in Pleasanton. He noted that in March, 2001, he and Jennifer Hosterman presented a proposal to the City Council to develop a Strategic Energy Plan and to form a committee to achieve that goal. He did not believe the energy crisis was over, and added that the restructuring of the electric energy has resulted in ongoing chaos, high prices, bankrupt utilities, market manipulation, state intervention, immense public debt, attempts by the federal government to further deregulate and privatize the industry. He did not see an end to the chaotic situation in the foreseeable future. He noted that the price of electricity in Califomia was twenty percent higher than the national average. He added that the reliance on natural gas as the primary fuel source led to further vulnerability to market manipulation and price increases. ,.- Commissioner Sullivan believed that the environmental and social impacts of traditional power generation were enormous, including the extraction of fuel and raw materials, water use, water and air pollution, land and habitat destruction, waste, and health impacts. He believed that the PLANNING COMMISSION MINUTES October 23, 2002 Page 9