He said the submissions were thick documents from major corporations, which he said required careful review. The bids, announced at the July 21 council meeting, broke into two groups, one to build a power plant that the town would own and operate, the other to build a plant that would sell power to the town at a pre-arranged price, known as a power purchase agreement. Ingersoll said he believes the latter option would be the best deal for the town. The plant, he said, would provide enough power to run all town government operations. The solar energy market has changed dramatically in the last couple of years, Ingersoll said. He said it would have cost the town considerably more if it had entered into an arrangement a year ago, when it received and decided not to act on a previous set of bids. Ingersoll said its a good time to lock in a deal at rates considerably lower than what the town is now paying. He said several of the bidders were offering 20-year deals as low as $0.045 per kilowatt-hour with no escalators in the rate.
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