New solar array will save Newbury $125,000 per year

Through a new partnership, the town will soon bring in extra revenue with the siting of a 4.2 megawatt solar photovoltaic array. Newbury has partnered with Lowell-based Borrego Solar, AmRESS, LLC, private landowners Richard D. Corsetti and Joseph Story, and the city of Methuen. The array will be built on land owned by Story and Corsetti under a 20-year lease. Electricity generated by the array will be submitted to the National Grid network, according to officials, and net metering credits will be used by Methuen, which will save roughly $125,000 in annual electricity costs for 20 years. The town will gain from personal property taxes estimated at $672,000 over 20 years, according to officials, as well as a one-time building permit fee of roughly $125,000.