Community solar refers to a solar installation where local subscribers (ratepayers) can receive credit on their electricity bills for a portion of the renewable energy produced from the solar system. This allows multiple members of a community – from homeowners to renters to businesses – to share in the benefits of solar electricity generation even if they cannot or prefer not to install solar systems on their own property.
The community solar model is rapidly being adopted nationwide. According to a recent report from Smart Electric Power Alliance (SEPA), community solar in the U.S. grew 112% from 2016 to 2017, reaching a total capacity of 734 megawatts (MW). At the end of Q1 2018, community solar capacity hit nearly 1 gigawatt (GW) (GTM). These growth rates demonstrate the progress of creative renewable energy solutions and point to a bright future for community solar.
However, despite the many benefits and anticipated massive growth of community solar, many corporates do not yet have a clear understanding of how they can engage with this burgeoning renewable energy model.
Below are five ways in which corporate entities can participate and benefit from community solar:
The five ways listed above are a few of the many possible approaches for corporates to get involved with community solar. This solar model largely eliminates the issues of space and financial constraints for customers who would ordinarily be less-than-ideal candidates for onsite solar. And if you do have the available area and capital to build a solar system on or at your facility, community solar is a great way to show your commitment to sustainability and share the benefits with your employees and local community.
If you are interested in community solar or going solar through other pathways, PowerFlex can provide a tailored, complimentary technical and financial analysis based on your real estate portfolio, energy usage, and available state and utility incentives. PowerFlex is agnostic to project structuring and provides a turnkey solar solution for corporate clients. Please contact us at firstname.lastname@example.org.Contact Us Today!