The city of Troy is planning to install a 3 megawatt solar farm on several city-owned properties as part of a deal that could save the city $300,000 annually in electric costs.
Last month the city council authorized the mayor to sign a memorandum of understanding with Monolith Solar of Rensselaer to build the solar farm, which would be paid for up front by Monolith.
The city would enter into a 20-year power purchase agreement with Monolith to buy the solar power, which would net the city roughly $300,000 in annual credits from National Grid.
