How Community Solar can Benefit Business
Community solar is a pioneering model that enables everyone to reap the rewards of clean electricity, by pooling their resources. Under a community solar scheme sun-power plants are shared among local residents and businesses, who typically enjoy savings on their bills in return for their participation.
Is community solar the next big thing?
- 42: The number of states with at least one community solar project online.
- 3 GW: The number of gigawatts expected to go live over the next few years. That's enough to power nearly half-a-million homes!
- 2010: The year Colorado became the first state to introduce shared renewables legislation. Since then, other states have introduced their own incentives—Massachusetts, Minnesota and Illinois among them.
What are the business benefits?
Community solar is great for businesses that don't have a roof, or businesses with roofs that are unsuitable for solar panels. For example, they might be too shady. It's also a good fit for those looking to boost their environmental credentials.
- 20%: The amount you can save on electricity costs. Fifth Third has seen savings on bills anywhere from 5-20%.
- 43%: The estimated amount that participation costs have declined by since 2010.
How can my business get involved?
There are several ways to participate in community solar, but local utilities are a good place to start since some operate their own programs.
Community solar is becoming a popular way for businesses to get involved in renewables without the hassle or expense of managing their own projects. For those looking to ride the wave of sustainability while also keeping costs reined in, it could be a great option.