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A community solar farm provides solar power solutions to individuals and businesses while creating a cleaner future through renewable energy. While homeowners receive credit based upon their state’s regulations, businesses can also save a percentage off of their utility bills. These savings are extended to members of a community through virtual metering.
In other words, solar providers create a centralized location to host the solar farm, these farms are then connected to the local grid. Community solar allows people the opportunity to go solar even if they don’t own their own panels. Thus, it becomes an attractive option for all.
OUR BENEFITS
Understanding Community Shared Solar
The Solar Facility (solar farm) produces energy or Kilowatt hours (kWH) which are turned into credits and offered to a commercial business customer (off-taker) at a discount.
Off-taker is the organization that is being offered the free credits through a customer agreement with solar facility.
National Grid credits the customer’s account in $$s based on the number of kWhs assigned to the Off-taker times the all-in rate. (Total Credits)
All in Rate is based on delivery, supply, and transmission known as the commercial rate, which, generally makes up over 95% of your bill
On a monthly basis the Utility Company (National Grid), credits 100% of allocated output times all- in rate to your utility account
This will show as a credit/adjustment (-) on your National Grid bill
The developer then invoices through ACH, the customer $.90 cents on the dollar, giving the customer a 10% discount
Customer keeps 10%, known as their savings
NEWS & TIPS
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Our team is committed to creating value for its investors and stakeholders through developing Best-in-Class Renewable Energy projects. Aided by the experienced technical team and its worldwide experience in various emerging markets.
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