ALBANY — The Albany city school district is using a $10 million grant to pay the last of its costs for a $98 million project that makes improvements at all of its schools.
The grant from NYSERDA (New York State Energy Research and Development Authority) will do double-duty: in addition to helping pay the district’s portion for the capital project, it will be used for energy efficiency projects at three schools. That will save the district $25,000 a year in electricity and natural gas costs. That’s 20% of the district’s $125,000 utilities bill for the three schools.
Of course, utility costs are increasing, but at $25,000 in annual savings, it would take 400 years for the district to recoup the $10 million it is spending on the improvements…