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CONSTRUCTIO,,l <br />Selge Construction South Bend GESC 2019 <br />Financial Guarantees <br />Selge will work closely with the City of South Bend to develop a savings guarantee package that works best <br />for this type of project. We will review the energy production over the course of a year and take weather and <br />snow coverage into consideration. Based on the actual irradiance data for the year compared to actual <br />production, Selge will guarantee 90% of the estimated production and pay a fine for every kWh under the <br />guaranteed amount until the solar project has achieved a 100% return on investment. Any energy generated <br />over the guaranteed production will be counted towards the return on investment. <br />For example, the calculations will be as follows: <br />• Estimated Production = (Irradiance) X (Solar Capacity) <br />• Guaranteed Production = (90%) X (Estimated Production) <br />• Actual Production = (Revenue Grade Meter Reading) <br />• Baseline Rate = Cost of Electricity Delivered to Site at Time of Installation <br />• Penalty Payment = (IF(Guaranteed Production) - (Actual Production)>0) X (Baseline Rate) <br />The primary savings will be utility savings in the form of avoided electricity charges. All savings will be <br />measured and Selge will not guarantee any stipulated savings. <br />28 <br />