There seems to be more to it than that. The article also says: "At the end of a 15-year lease term, Rutgers would purchase the facility at a fair market value – an estimated $3.6 million." And "The combined value of the SRECs and electricity savings are projected to net Rutgers $28 million over a 20-year period, exceeding all costs to the university."

So I'm guessing that about half the cost entails (re)paving the parking lots themselves --which they would have to do regardless of the solar canopy.