There’s an exciting buzz around Community Solar initiatives across the country, and PowerFlex is currently looking at programs in select states that offer strong economic incentives for Community Solar systems.
Community Solar is a shared renewable system in which a neighborhood or community pools investments to take advantage of a singular solar power source. The system is built, owned, and operated by a third party who supplies the energy and collects the state and Federal incentives that make Community Solar a lucrative investment.
A National Renewable Energy Laboratory study found that only 22% to 27% of residential buildings are suitable for hosting an on-site solar system due to financial, structural, or shading issues. That means that a majority of homes are not suitable for solar. Since Community Solar does not involve on-site systems and allows both homeowners and renters to participate in investments, these homes can now take advantage of the benefits of solar power.Community Solar breaks the perception that solar power is an expensive and unattainable resource. Low-income residents, who would not have the adequate finances to invest in an on-site system, can partake in community solar shares. Non-profit organizations, who do not have tax appetite, can also take advantage of solar power in community solar systems. Community Solar thus offers those residents and organizations clean, renewable energy when they otherwise could not invest in solar.Communities can also boast sustainability and job-creation as major benefits, along with the savings on electricity bills.For those owning the system, Community Solar projects are an attractive investment for businesses and landowners who have unused land or roofs. New York and Massachusetts both offer strong state incentives for the investor, including solar renewable energy credits, the 30% federal investment tax credit, and net metering credits.
PowerFlex is actively engaged in Community Solar developments, and looks forward to sharing more information in the coming weeks on how these programs can work in various states throughout the country. We look forward to introducing these initiatives to new and existing clients.In the meantime, if you have access to land or roof space that might be suitable for solar, or would like to know more about Community Solar, please contact Dennis Phayre firstname.lastname@example.org.