The practice of solar co-ops is becoming more popular for businesses and homeowners. At its core, solar cooperative buying offers homeowners a way to own their own solar electricity generation at a significant savings over purchasing commercial energy sources. In some cases, solar cooperative buying has even led to outright purchases by consumers. There are many benefits associated with this option including the opportunity to gain equity and meet energy needs within a comprehensive package. click for info
Sometimes called solarize programs, solar co-ops are either temporary groups of like-minded homeowners who come together voluntarily to buy solar installations from a singular solar company. These cooperative buying programs claim lower expenses by allowing the homeowners involved to receive a substantial discount on the initial purchase of solar cells and other necessary equipment. In some cases, these programs may also allow for purchases by multiple households.
The attraction to this kind of business model lies in the idea that homeowners are able to reap a substantial portion of the profits by being involved. The incentives often include the reduction of the interest rate or, in some cases, a discounted price for the purchase of the required equipment. In some states, there are also incentive programs which require the installation of solar panels by qualifying homeowners. Many states have incentive programs designed specifically for this type of organization.
Solar panels and equipment represent a large portion of the cost incurred by a residential purchaser. By going solar, a homeowner can save tens of thousands of dollars over the life of the investment. Because of the appeal of this type of arrangement, there are many non-profit groups that are willing to share the profits from the sales with interested purchasers.
A solar co-op provides another way for homeowners to help reduce their individual impact on the environment. In some states, the revenue generated by the sale of these items goes directly into the state or county coffers. This provides an incentive for homeowners to remain in their homes rather than selling. Incentives to buy and maintain the equipment, as well as maintenance and service contracts for the equipment can help to keep the business going strong and create long-term savings for the non-profit organization.
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