Community or Bulk Purchases of Solar Systems
Using solar energy provides energy independence and a reduction in greenhouse gases. Likewise, one will be able to save money by generating electricity without depending on the retailer. The rating and the value of the house also increase with the installation of the solar power plant.
As the generation of the electricity is free during the day, it is ideal to run most of the appliances, such as washing machine and dishwasher, to reduce the use of the electricity delivered by a service provider. Furthermore, one can export to the grid, where the power company pays per kilowatt hour.
Bulk or community solar system is a project or a shared setup of the solar plant, where the energy is distributed to more than one household. Sometimes, community or bulk purchase can refer to a third-party plant where the community shares the generated electricity according to the contract. The primary benefit of community or bulk purchase of solar system is to provide an opportunity for members of a residential community to share the benefits even if they do not prefer to solar panels on their property.
As the bulk or community purchase is a new concept, companies, groups, and new entities are entering the market to build community solar projects. It helps in the reduction of electricity bills. Another benefit offered by the program is the ability to go solar without the installation of the panels on the property or roof.
Virtual Net Metering growth is helping several states to promote bulk or community purchases of solar systems. Additionally, a household receives Net Metering credits for their association with the renewable project. The credits added are worth or close to what one pays for their electricity bill. For example, if a participant’s share generates 5kWh of electricity, they receive Net Metering credits for the same amount to the power bill.
It is feasible for everybody to join in bulk or community purchases by opting either as an owner or subscriber. As an owner, they own a few panels in the setup or particular amount of share. For subscribers, there is no share or own any of the panels. Instead, they buy electricity at a reduced price, which helps them to cut down their power consumption bill.
With greater emphasis on the use of community or bulk purchases of solar systems, it is possible to reduce both energy consumption and money.