SMITHFIELD – The town will take more time to go over yearly electricity usage in municipal buildings before signing a power agreement that could result in a possible savings of more than $4 million over 25 years, according to the energy company.
The contract with energy company Ameresco would have the town purchase solar power credits from the White Rock Road Solar Project in Westerly. Town Planner Michael Phillips presented the agreement to the Town Council last Tuesday, Feb. 16, saying the project will bring in savings unless the town purchases more credits than it uses.
However, if not all credits are used, Smithfield will receive a hefty penalty that is more than the annual savings, according to Councilman Michael Lawton.