Community Shared Solar
What is Community Shared Solar? Under the recently enacted New York State renewables initiatives, individuals and businesses of New York that had challenges in utilizing solar power, will now have the opportunity to do so. Centrally located solar arrays with ideal conditions for generating power (solar farms) are now able to use New York's net metering policy. No longer is there a need to own your residence or business or have ideal conditions for a solar system. Community Shared Solar projects are developed by a project sponsor, such as BlueRock Solar, with responsibilities including building, interconnecting the array with the utility company, operating and maintaining the generation, and the administrative duties associated with allocating the power generated. The structure of Community Shared Solar can work in two ways: Shared ownership Under this structure, the customer would purchase a set amount of solar panels at the solar farm. The purchase price paid by the customer would be offset by a share in financial incentives and tax credits in a similar way a customer installing on solar on their roof or land. The solar power generated from a customer's panels would be credited to the monthly utility bill just like if the solar panels were installed on your roof. The cost for a share in a system such as this is often less than a traditional roof-mounted solar system. The shared ownership structure is ideal for a customer that has the funds available and/or the ability to finance the investment of the solar panels and then share in the attractive return on investment over the long haul. Pay as you go Under this model, the solar farm's panels are owned by the developer of the project or a third party investor. The solar power generated from the farm would be sold to individual and business customers and be able to be used at the home or business. Because the developer or third party investor would receive the financial incentives and associated tax credits, the rate at which the solar power would be sold can be attractive to customers. The "pay as you go" is ideal for the customer that does not have the funds available and/or the ability or desire to finance the solar system. In summary, the exciting New York State new guidelines for Community Shared Solar open up the opportunity for utilizing solar power for all consumers, even renters. In order to participate in a project in either the "shared ownership" or "pay as you go" model, the Community Shared Solar project has to be in your utility territory. BlueRock Solar will be developing projects in New York State. Please stay tuned for further information on the location and other details as they are being developed.