Something about this story caught my eye. See if you can figure it out.
Capitol Broadcasting Corp. plans to open the dam at the Rocky Mount Mills on Tuesday in order to inspect the turbines and the dam.
It is anticipated that the work will take about two days. During that time, residents will likely notice significantly lower water levels along the Tar River upstream of the dam. A temporary surge of water also is expected downstream of the dam once the gates are opened.
Answer below the fold.
That's right, a media corporation is operating a hydroelectric dam, which means they're not only engaged in the energy-generating process, they're also in control of a local water resource.
Being an advocate of renewable energy, my initial reaction is to dismiss the negative aspects of a corporation so wildly diverse, and maybe even wave their flag a little bit. But my desire to see more projects like this:
The dramatic investment by Capitol Broadcasting and other companies in the state is being spurred, in part, by federal and state tax credits for installing renewable-energy systems, selling clean energy back into the electric grid and an open auction system through the buying and selling of Solar Renewable Energy Certificates, known as SRECs.
North Carolina, for instance, offers a corporate tax credit of 35 percent, up to $2.5 million per installation, for all solar, wind, hydro and other clean energy technologies. Plus, the cost of solar panels, including installation, has fallen from about $9 a watt to $3 a watt this year.
Michael Goodmon, vice president of real estate for Capitol Broadcasting, says his company, which was founded by his great-grandfather, has not yet made any financial commitment to expand its solar farm in Garner, but he concedes that the company is looking at several options including installation of more ground-mounted solar panels in multiple phases.
“We’re seeing what the opportunity is more so than anything else,” Goodmon says. “But, solar is a logical use for that land around the towers. It’s a great use for that property.”
Is tempered by realities like this:
Capitol Broadcasting sells all of the electricity generated by its solar farm to Progress Energy Carolinas, a subsidiary of Duke Energy, but Goodmon wouldn’t disclose how much money the company has made on the project so far or how much the project has generated in federal and state tax credits.
Which leads me to the inevitable question: with so much money involved, especially considering how media companies have struggled to stay in the black in recent years, how can we expect the Capitol Broadcasting Corporation to "leave no stone unturned" in its investigations of Duke Energy?