In a time when the Trump administration is withdrawing from the Paris Agreement and pushing for more fossil fuel-based energy sources, community solar farms are becoming more important than ever. Businesses that get involved in these projects can not only reduce their carbon footprint but also benefit from lower electricity rates and an improved public image.
The upfront cost of setting up a community solar farm may be prohibitive for some. However, there are ways businesses can participate and reap the rewards. Here we’ll explore how businesses can get involved in a shared solar farm and what benefits they can expect.
What are community solar farms?
Community solar farms are a type of renewable energy facility that allows community members to invest in and/or subscribe to the solar farm. The solar farm is then built and owned by the community. Community solar farms provide an opportunity for people to go solar without having to install panels on their own home or business. They can be very beneficial because they allow people to save money on their electricity bill; support the growth of renewable energy; and build community resilience. They are a great way for communities to come together and invest in a clean and renewable future.
Read here: Achieving net zero through community energy
Investments in community solar farms
Community solar farms are a great way for businesses to invest in solar power. By owning all or part of the community solar system, businesses can keep a larger piece of the overall solar project economics in-house. This can deliver better risk-adjusted returns on capital to many corporate clients. These farms also have the benefit of being able to sell excess power back to the grid. This provides an additional revenue stream. So, if you’re looking for a way to invest in renewable energy, a community solar system may be the perfect option for you.
Sign me up as a subscriber.
Become a “Subscriber” in an offsite community solar project. As a “Subscriber” in an Offsite Community Solar Project, you agree to receive a Considerable Amount of the Solar System’s Shared Production. Businesses can serve as “anchor” clients and obtain up to half of the system’s output. However the details vary by state and project.
Subscriber agreements are frequently comparable to standard solar power purchase agreements (PPAs) in the sense that there is no necessary investment of capital, the arrangement has a set time period duration, and the price of the solar electricity is preset. Additionally, the duration of the arrangement is set at a predetermined number of years. In contrast to conventional solar power purchase agreements (PPAs), community solar projects are typically situated away from the customer’s property and typically offer greater flexibility on conditions, such as shorter-term contracts and/or non-fixed pricing choices.
Engage as a corporate promoter.
Community solar is a great way to get employees involved in a forward-thinking sustainability project. It will also allow them to keep some of the money they save. As a corporate sponsor, you can invite your workers to subscribe to the community solar project. Then, you can take advantage of benefits such as guaranteed monthly savings on their power bills. This is a great opportunity to show your employees that you are committed to sustainability and to helping them save money. Community solar is a win-win for everyone involved, so don’t hesitate to get started today.
Hosting a community solar project
Community solar installations are generally hosted by a company or group for monthly leasing payments. If your organization has sufficient solar real estate, you should consider hosting a community solar project. As the host, you and your employees may get subscription savings. Community solar allows your company to show its dedication to sustainability, save money, and promote renewable energy.
Community solar is a great way to get the benefits of solar without having to install panels on your property. By providing renewable energy, community solar projects can help to reduce pollution and support the move towards a low-carbon economy. This makes them a win-win for businesses and the planet.