Wednesday, October 30, 2013

Iowa: Cooperative Community Solar

From Hawkeye Rural Electric Co-op:

The development of a cooperative community solar project for our members is currently underway. While final details of the project are still being finalized, our cooperative solar project will involve the construction of a small solar project (25 kW) at our headquarters. We are in the process of soliciting member interest and participation after the cost of the panels, rate credit and operations/maintenance costs are determined. Members will then be offered to purchase the output of the solar project. While the actual price has not yet been determined, we do know that the price for the output of energy of these panels will be reduced by the upfront payment or investment for the tax incentives by Federated Rural Insurance Exchange. It is equally important to recognize that participating members will not qualify for the individual tax incentives because the tax value will have been incorporated in the reduced panel output price.  Our electric cooperative will provide the insurance and maintain the operation for the entire life of the project, which is anticipated for 25 years. The participating members will receive a monthly credit on their electric bill based on the production and their participation in the community solar project.

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