Approves Oakland High battery system with no upfront cost; $200,000 only if tax credit falls short
The Board is approving a resolution and agreement with SolarStorage Fund D, LLC, an entity associated with Total Energies, to install and maintain a battery system at Oakland High School, from August 10, 2023 through September 16, 2034. The district pays nothing upfront. If the system earns less than a 40% Investment Tax Credit, the district would pay $200,000 in battery service fees.
Plain-English summary written by AI from the official text. AI summary · amounts checked against official text
- Vendor / partner
- SolarStorage Fund D, LLC · Richmond, CA
- Action
- New agreement
- Category Categories and sub-categories are assigned by AI from each item's official text, using a fixed set of definitions. They can be wrong. How categories work
- School buildings & construction
- Term
- Aug 10, 2023 – Sep 16, 2034
- Schools
- Oakland High School
- Funding
- Fund 21 Building Fund Measure Y
- Resource / site
9655 305- Presented by
- Deputy Chief, Facilities Planning and Management
- File
23-1519· agendaU.-1- Outcome
- Adopted on the General Consent Report, Aug 9, 2023
Official text
Approval by the Board of Education of Resolution No. 2324-0002 Oakland High School Battery Service Energy Efficiency and Safety [Battery Services Agreement By and Between the District and SolarStorage Fund D, LLC ("SolarStorage") Richmond, CA, an entity, associated with Total Energies, for the latter to install and maintain Battery System, for the Oakland High School Energy Efficiency and Safety Project, for a term of August 10, 2023 through September 16, 2034, with the District paying no upfront costs [or if the System obtains less than 40% Investment Tax Credit, then pursuant to Section 2.a and Exhibit 1, District agrees to pay SolarStorage Two Hundred Thousand Dollars No/100 ($200,000.00) as Battery Service Fees for the period from the Commercial Operation Date through the Expiration Date.]
History
- Adopted on the General Consent Report