After some months of bureaucratic processing and as soon as the land dries out a bit we will start the construction of our 100kw photovoltaic plant. This is a ground based project, a good contribution to clean and safe energy. The thing that is really interesting about this is that it is such a good investment. Briefly it will have an internal rate of return of around 21% over a 20 to 30 year life span, when done on land already owned. And the income is guaranteed by the Italian government and ENEL a large European power company. A big portion of the income comes from incentives. There is a positive cash flow from day one and the initial investment will be paid back in around four years. The incentive is for 20 years and the life of the panels is around 30 years or more. So power can be sold even after the incentive ends. This also based upon 30% equity and a loan for 15 years.
Our role in all of this has been to be the architects of the project for clients who are family members. We will manage the plant over its lifespan, assuming ours is the same. Through this process we have become pretty much experts in the overall picture. We have done the paper work, the overall plans, the hiring of the contractor/supplier, and the electrical engineer. Now we will oversee the construction.
We now know that this is a good opportunity as an investment, but at the same time it is not so easy to implement. We realize that our knowledge could be of use to others and though it is not exactly architecture it is the kind of service that we could offer as architects based upon our own experience not just in this project but in all phases of dealing with government agencies and taking something from the idea to the final construction. This after all what we do as architects. So contact us if you any interest in such a project anywhere in Italy.
