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Edmonton Public Schools could save $4 million annually by installing arrays of solar panels on one-quarter of its school roofs, a new report says.

The school district plans to apply for $50 million in provincial government funding to cover the cost of installing solar panels on 52 schools, Lorne Parker, Edmonton public’s executive director of infrastructure, told a Tuesday school board meeting.

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It would take eight years to install the panels. Once active, they could generate more than 40 per cent of the district’s electricity, a 2017 feasibility study found.

The district could save a net $40 million to $50 million over the lifespan of the panels, said Chris Wright, managing director of infrastructure for Edmonton Public Schools.

“It’s not just the right thing to do economically, it’s the right thing to do environmentally. I think with the extra opportunities created by the team here, I think it’s the right thing to do educationally, too. It’s a grand slam across the board,” school trustee Michael Janz said.