Somerset County in New Jersey recently announced the first phase of its bold new renewable energy program. Part of the plan calls for installing solar energy systems at a number of the county’s schools. So when students return after summer vacation, they’ll see a number of new projects in the works.

Franklin Park, Elizabeth Avenue and Pine Grove Manor elementary schools — all of which are in Franklin, the county’s biggest municipality — have been chosen by Somerset County officials as three of the 32 sites included in the first phase. In all, 15 towns will participate.

The combined cost of the installations is estimated at $55 million, which will be paid for via Somerset County improvement bonds. As one of the wealthiest county’s in the U.S. as measured by median household income, the county should have no trouble raising the funds. Participating municipalities and school districts, meanwhile, are not expected to incur any out-of-pocket costs:

“We’ve identified a new and dynamic economic model whereby public-sector rooftop space will be, in essence, leased for the installation and operation of solar arrays,” he [county official Jack Ciattarelli] said. “As a result, we’ll reduce our carbon footprint and decrease taxes by lowering our energy costs.”

Ciattarelli said a not-yet-chosen third party, which will own the panels, will be responsible for paying the principal and interest on the bonds through federal tax credits and opportunities not available to governments and school districts.

The New Jersey solar installations should be completed by winter 2011. Expected to generate a total of nearly nine million kilowatt hours (kWh) of electricity in the first year of operation, the systems will cut utility bills at each location between 20 percent and 35 percent each year. Other sites chosen include municipal buildings, public garages and Franklin High School.