If you want solar power at a lower cost than conventional electricity, you can do it without any solar panels on your property, if you are in Minnesota (or other states looking to apply this concept in the coming months).
The concept is called a “solar garden.”
Here’s how it works. Minnesota passed legislation in 2013, allowing solar developers to create community solar farms. They install the panels on their sites and feed the power into the utility grid, creating solar credits. Anybody can sign-on to “receive” the credits through a Credit Purchase Agreement (CPA). Basically, you get a discount to your monthly utility bill – without having to install any solar panels.
The best news … it’s cheaper. The incentives and rate structures of these deals reduce the cost of your energy bill regardless of the rate structure you are on, and are defined through a guaranteed long-term rate.
Interested? You need to move fast. To take advantage of the Minnesota law, you need to sign a CPA this summer.
Green power at lower rates. In Minnesota, solar has become a real cash crop.