Noble REMC’s new Co-op Solar program makes it easier and more affordable than ever to invest in solar energy. Unlike individual rooftop solar systems, Co-op Solar is a “community solar” system — a larger system that gives many co-op members the opportunity to get the benefits of solar energy.
Instead of a large, upfront investment, followed by the cost of maintaining solar panels at your location, you can purchase the output of solar arrays that are spread across three states — Peru, Wanatah and Danville, Indiana, as well as Ste. Genevieve, Missouri, and Paris, Illinois. If the sun isn’t shining over one array, it may be at another.
Noble REMC is offering the program to members in terms that will expire on Dec. 31, 2022. Participating members will pay upfront for the number of shares of solar energy they purchase, from one share up to the number of shares to equal 100 percent of their normal average use (based on the past 12 months). For members who sign up for the program in the first quarter of 2018, the price is $147.06 per share. The cost to participate is fixed and is relative to the number of months a member has to the expiration of the term on Dec. 31, 2022.
From the time a member signs up until Dec. 31, 2022, the credit for the actual number of kilowatt-hours (kWh) produced by the share(s) of solar output will be credited back on the member’s electric bill at the wholesale rate of $.052538 kWh. (This number will change annually as power costs fluctuate).
Depending on historical solar production, we estimate the solar output will average 43 kWh per month. Some months will have less output and some months will have more output based on the number of hours the sun shines.
For information about Co-op Solar, visit powermoves.com/your-home/co-op-solar or contact Energy Advisor Brian Hawk at 800-933-7362. He will be happy to answer your questions and help you get started in the program.