Bertie County is poised to reap significant financial benefits from a new solar energy project, as discussions at the recent government work session highlighted the potential for increased tax revenue without the burden of additional public services. The project, which involves a power purchase agreement with Dominion Energy, is expected to elevate land values and generate substantial tax income for the county.
During the meeting, officials explained that Bertie County has already been benefiting from solar energy, which is sold at a fixed cost per megawatt. This stability contrasts sharply with traditional energy sources, whose prices fluctuate based on various market factors. The solar initiative is projected to increase land values by approximately 2000%, providing a substantial boost to the county's tax base.
Key points raised included the fact that the solar project will not require additional public services, such as increased law enforcement or educational resources, which typically accompany new developments. This means that the county can expect a net gain in revenue without the associated costs of service provision. The anticipated tax revenue from the project is expected to flow into the county by 2028, with estimates suggesting around $6 million annually.
Officials also discussed the decommissioning process for the solar facility, emphasizing that the materials used in construction are recyclable, which could offset costs when the project reaches the end of its operational life.
As Bertie County moves forward with this solar energy project, the local government is optimistic about the financial implications, which promise to enhance the county's economic landscape while maintaining a focus on sustainability.