Residents and businesses – also called subscribers – who sign up for community solar save up to 10% on their monthly energy costs1 – and they don’t pay anything upfront to participate. It almost sounds too good to be true. But once you understand how community solar can offer savings, it all makes sense (and cents!).
How Saving Money is Possible With Community Solar
With community solar, a solar farm generates clean electricity that’s sent to your local power grid. As a business owner, renter, or homeowner in the service area, you can sign up to participate in the community solar project – and receive solar credits on your monthly utility bill for your portion of the electricity generated by the solar farm.
What are solar credits and why do you receive them for participating in a community solar project? Developers who build the solar farm are given federal and state tax incentives to help make clean energy accessible and affordable for residents and businesses. A portion of their tax incentives are passed along to participants who join the community solar farm. The amount of savings passed on by the developer varies by state and by project.
In addition, solar power is less expensive than other electricity – such as fossil fuel energy – that’s being sent to your local power grid. This is another way community solar helps save you money on your monthly energy bill.
How Will You See Savings?
If you have questions about how you’ll see savings on your monthly utility bill, check out Community Solar: How the Billing Process Works.
While there are plenty of things in this world to be skeptical about, community solar as an opportunity to save money on your monthly energy costs is not one of them. If you have more questions about how this works and if community solar is right for you, please reach out to us at 844.584.3213 or NelnetEnergy@nelnet.com. We have a real person waiting to explain how you can save money on your monthly energy bill.
Ready to join a farm today? Check to see if we have an available project near you.