Project Type
Faculty Scholarship
Scholarship Domain(s)
Scholarship of Community Application
Presentation Type
Presentation
Abstract
Universities throughout the United States are searching for ways to reduce overhead costs, to help combat rises in tuition costs. Typically, one would think that installing solar panels on campus to help generate electricity would cost Olivet money, especially since the University is located in the Midwest. While such an undertaking would require an upfront investment, we will discuss how solar panels could save the University as much as $500,000 to $800,000 per year after an approximate 10 year break even point. We will also briefly discuss how similar approaches could be applied to other businesses and homes for a proportionally similar annual savings.
Permission Type
This work is licensed under a Creative Commons Attribution 4.0 License.
Included in
Applied Mathematics Commons, Business Commons, Engineering Commons
Saving Olivet Money With Creation Care
Fishbowl
Universities throughout the United States are searching for ways to reduce overhead costs, to help combat rises in tuition costs. Typically, one would think that installing solar panels on campus to help generate electricity would cost Olivet money, especially since the University is located in the Midwest. While such an undertaking would require an upfront investment, we will discuss how solar panels could save the University as much as $500,000 to $800,000 per year after an approximate 10 year break even point. We will also briefly discuss how similar approaches could be applied to other businesses and homes for a proportionally similar annual savings.