Specifically in California, schools are looking to solar energy as a way to deal with smaller budgets while still being able to afford teacher salaries and attract top talent. A recent Forbes article reported that many schools throughout the state are turning to low-interest loans for renewable energy systems, as well as state rebates available for PV installations, to make the projects a smarter choice. Money saved from lower energy bills as a result of the solar installations are easily used to pay back those loans, one expert said in the article.
“In California especially, schools are having budgets cut for the third, fourth, fifth year in a row and are looking for ways to make up shortfalls in their general fund budgets by using capital dollars," the article stated.
For example, at Laney College in Oakland, California, school officials expect a recently installed solar project to save the college about $20,000 every month on electricity costs, according to Forbes."