Laurens Electric offering solar subscriptions (Greenville, Greenwood: apartment, get credit, loan)

[gvsteve]

https://communitysolar.laurenselectric.com/

I'm glad they're doing this, for the fact that it's not putting so much carbon in the air. I'm probably going to do it just for that reason.

Financially, though, it looks like it's going to be a wash at best.

You pay $20 upfront fee for being in the program
You pay $50 upfront per "unit" of solar generating, which they say averages 150 kWh per month.
You pay $14 per month for each unit you've bought.
You get refunded $.10 per kWh actually generated. So if the amount actually generated equals their claimed average is 150 kWh , you'd be refunded $1 per month. I suppose that means you'd save money in the summer months and probably lose some in the winter months.

Minimum participation term is 2 years. (Can they raise the price or reduce the refund during those 2 years?)

Does anyone in the GSP area know if you're looking at better financial return by buying/installing/operating your own solar equipment?

[USNRET04]

I've been talking for a few months with a solar energy company for my house. I have a large roof that is perfect for maximum advantage of the solar panels. The system quoted me would cost $41k and meet 95% - 105% of my current energy use. After tax credits, my out of pocket expenses would be around $7k, or 17% of the investment. The credits are spread out a bit, most people can pay off the initial investment within 5 years, including moving your normal electric payment to paying off the loan.

So after 5 years or so, I should be free of paying for energy, except for a small monthly fee of being hooked up to Duke Energy's system (required). The meter they install allows me to get credit for extra solar I don't use, so when it's cloudy, rainy or winter...I may be able to be neutral. (Of course this depends on quite a few variables).

The only hold up right now is the HOA.

I like to the idea of using clean energy, plus this will be a benefit for my home when I re-sell. The Community Solar plan sounds like a good idea for people who want clean energy but may live in an apartment or home that cannot have panels, or the initial expense of panels.

If you are allowed or can have panels, I would go that route with all of the current incentives from state and federal programs. Those programs are only available for a certain amount of time.

[Eric_96SC]

We bought some land in Laurens county to split the distance between Greenville and Greenwood, but wont be building on it for another year or two. Hopefully this program does well and is still around when we build. This is definitely something I would be interested in. I wonder if it would be possible to participate in the community program and have panels, as well?

[gvsteve]

Originally Posted by Eric_96SC

We bought some land in Laurens county to split the distance between Greenville and Greenwood, but wont be building on it for another year or two. Hopefully this program does well and is still around when we build. This is definitely something I would be interested in. I wonder if it would be possible to participate in the community program and have panels, as well?

I know Laurens Electric Cooperative allows you to have solar panels and get paid for feeding back into the system if you sign some contract and pay a fee. I'm not aware of any restrictions preventing you from having both.

However it sounds like the current 100kw is going to be sold out pretty soon. Maybe they will build more.

[USNRET04]

Originally Posted by Eric_96SC

We bought some land in Laurens county to split the distance between Greenville and Greenwood, but wont be building on it for another year or two. Hopefully this program does well and is still around when we build. This is definitely something I would be interested in. I wonder if it would be possible to participate in the community program and have panels, as well?

You would be better off with your own solar panels that can be designed into your house while you build. There are several "green" builders in the Upstate that can help you with that.