Community solar is an exciting program for Illinois consumers who are interested in enjoying the financial benefits of going solar without having to install panels. But you have to do your homework to make the best choice for your home.
As fossil fuel prices continue to rise, solar energy can be a way to lower your electricity costs. But not everyone has the ability to install solar panels on their homes. Community Solar gives the benefits of solar panels without installing panels.
The program, first launched in 2016 thanks to the Future Energy Jobs act, lets you subscribe to a portion of the electricity produced by a solar installation—called a community solar garden—and in return you receive credits on your electric bill.
Signing up for community solar can lower your overall electric costs, while also supporting renewable energy development in Illinois. The typical community solar plan is structured to save subscribers 10-20% off the supply section of their electricity bills. Thanks to Illinois Solar for All, income-eligible consumers can reach the benefit of solar electricity without financial risk. Illinois Solar for All Participants are guaranteed to see savings on their bills, thanks to their community solar deal.
Community solar can also improve the power grid’s reliability by reducing peak loads while lessening the need for expensive peak-time power plants, lowering market prices for all.
Here are a few important things to consider when shopping for a community solar deal:
- How long is the term of the contract?
- Does the company charge a fee if you exit the contract early?
- How do you pay for your subscription? If it is per kilowatt-hour, what is the rate? Can that rate increase over the time of the contract?
- Do they require a credit check?
- How will the company bill you? Electronically? A paper bill? How do they accept your payments? Can you choose? Do they require automatic payments?
- How much will you save? So far, people are expected to save anywhere from 10 to 20 percent on the electricity produced through their community solar subscription
While community solar is a good deal for most consumers, you should always do the math. In the current market, community solar may not be the best deal if you are on a municipal aggregation deal (also called a community power deal) that has a lower price than the utility rate. Municipal aggregation deals involve community leaders negotiating an electricity price with an alternative supplier.
Before you sign anything, make sure to look at all the offers and consider the information carefully. CUB has had an issue with some companies being unresponsive to requests for updated information.
If you do decide to go solar, there’s a good chance you will be added to a long waitlist, no matter what company’s offer you choose. So you could wait by up to a year before you can reap the benefits.