VACAVILLE — The city is poised to realize a 50 percent savings on its Pacific Gas & Electric Co. bill and put $6.5 million in its piggy bank.
The city teamed with research and technology giant Siemens for a series of infrastructure improvements and energy savings projects at city facilities worth about $12 million. Siemens gave the city a 15-year loan at 3.1 percent interest so no initial money will come out of the city’s general fund.
The projects will be completed in about a year and will give the city a 50 percent savings on its energy bill, said Shawn Cunningham, the city’s interim public works director. Of the 50 percent saved, the bulk will go to repay the loan, but the city will still realize a $6.5 million savings over the 15 years.
After the loan is paid off, though Cunningham said things will begin to need replacement, the energy savings will belong to the city.
“It’s all gravy after that,” he said.
The city began negotiating with Siemens about a year ago, Cunningham said. An energy audit was done and projects were designated. The city’s contract is with Siemens – Siemens will then bring in the manpower to do the job. A press release issued by the city states that local labor will be used for the projects.
Projects to be completed include:
Work on various projects will begin next month, Cunningham said.
“These are exciting projects that will bring much-needed improvements to a variety of city facilities,” said James Loomis, associate civil engineer for the city. “Those improvements will mean a better experience for residents and visitors to these facilities in the future, all at virtually no cost to the city.”
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