Economic Benefits

A True Economic Partnership

Landowners receive long-term, stable, and diversified revenue, and domestic energy production encourages local economic development and other investments by companies seeking to procure clean energy for their regional operations.
Local tax revenues increase significantly, while not impacting the demand for municipal services.
Ohio’s PILOT program creates a True Economic Partnership and ensures a win-win scenario for the solar developer and the community where it is located. Under standard Ohio law a solar project is typically not treated as “real property”, subject to real estate tax. Instead, it would be treated as personal property and, like your car, would depreciate over time. That means tax payments may start out large but decrease quickly. Under Ohio’s PILOT statute for Qualified Energy Projects Kingwood Solar will be designated as an Alternative Energy Zone in Greene County and instead be required to pay fixed, premium, tax service payments to Greene County over the entirety of the solar project’s lifecycle.

The PILOT payments will be distributed in the same manner as personal property tax (to municipalities, school districts, etc.) and will remain constant for the life of the project. For solar projects, the PILOT payment is $7,000 per MW per year, with an additional service payment to the County’s general fund of up to $2,000 per MW per year.

Kingwood Solar and Vesper Energy will work closely with local Emergency Response Services to establish an emergency response plan and ensure that the necessary training is provided.

How the PILOT will help Greene County

Funding to Local Government

Kingwood Solar will pay more than $1.5 million in taxes annually for the life of the project while requiring virtually no municipal services. This stable and reliable revenue is allocated just as tangible personal property tax is allocated to local governments and school districts. A Road Use Maintenance Agreement (RUMA) will be executed with the County and will include a performance bond to financially guarantee that the project has an obligation to repair any potential damages to bridges, culverts, and roads affected by construction of the project. In addition, the RUMA provides a formal compliant resolution process to address community member’s concerns.

Longterm Careers

Kingwood Solar will create 200-300 construction jobs and 80% of those jobs will be filled by Ohioans. The project will create approximately 5, well paying, permanent, full-time job equivalents for the life of the project. There will also be supplier and contractor opportunities and the project will help support regional industry manufacturing and fabrication.

Education Funding

Under the PILOT program, local school districts will be one of the largest recipients of the revenue generated from this project. This revenue is a reliable, annual stream of funding that will significantly benefit Greene County students and faculty. The PILOT is allocated just as tangible personal property tax is allocated to local governments and school districts.

University or Apprenticeship Program

Under the PILOT program, the Kingwood Solar Farm will establish a relationship with an Ohio university or apprenticeship program for purposes of education and training. The relationship may include endowments, co-ops, internships, apprenticeships, R&D projects, and curriculum development.