With sustainability goals to meet and energy costs becoming more erratic by the day, large businesses need a flexible solution to stabilize energy costs while displaying a commitment to reducing their carbon footprint. Large-scale businesses come with large-scale expenses, so saving money wherever possible is crucial, especially when adopting renewable energy.
Suppose you’re part of a large business looking to embrace the numerous benefits of solar energy without the installation costs or allocating panel space. In that case, community solar plans are an advantageous solution to save money while meeting your goals.
What is Community Solar?
Community solar programs offer flexible options for businesses of any scale to capitalize on the benefits of solar energy without requiring significant capital investment or dedicating space for solar panel installation on their property.
Most community solar programs offer guaranteed monthly energy savings, as your business receives a share of the cumulative energy generated by an off-site solar array. These arrays are called solar farms. Unlike a Power Purchase Agreement (PPA), businesses are not charged based on the energy generated from their share of the solar farm.
Solar farms vary in scope and location, but typically, multiple customers are enrolled as subscribers to the same farm at a time. Each month, the subscribers receive a credit applied to their monthly utility bill. In exchange, they pay back a portion of the credit received to the solar farm, consistently netting savings.
How Community Solar Works
While some details can vary from program to program, community solar generally works like this:
The community solar farm’s array of panels constantly generates energy, channeling it into the energy grid.
Businesses and residences subscribed to the community solar program receive a credit for their share of the project, which is always more than what those subscribers pay each month to participate in the program. Local utility companies then pay solar farm operators for the sustainable energy they generate.
When each subscriber receives their credit, that money goes towards their monthly energy costs, providing significant and consistent savings every month. For large businesses seeking to minimize expenses wherever possible, this option enables them to reduce energy costs without the need for a full-scale solar system investment.
The benefits of partnering with a community solar program are numerous for large businesses, but subscribers aren’t the only ones who benefit. Joining a community solar program also stimulates the growth of local economies, jobs, and other clean-energy initiatives.
How Can Large Businesses Benefit from Community Solar
Large businesses with the resources to allocate solar panel space and cover the costs of panel installation may see a greater return on investment. However, community solar is a worthy alternative if finances are tight or your business isn’t willing to install a solar system.
Community solar programs present numerous opportunities for large businesses, including:
- Lower, more consistent energy costs: With a monthly credit for solar energy generated by the solar farm each month, businesses receive a reliable and consistent discount on their energy costs without needing to invest in their own solar panels.
- A Flexible Way to Participate in Renewable Energy: Community solar initiatives offer various plans and rates that allow businesses to tailor their degree of participation to suit their individual needs. Community solar is also a more versatile option, allowing businesses to benefit from solar energy, even without their own panels.
- Improve ESG and Satisfy Sustainability Goals: Participating in community solar enables large businesses to achieve their sustainability goals, demonstrating a commitment to the environment that enhances their moral and ethical standing. This attracts stakeholders and the public while actively making a difference to improve our environment.
- No Installation Cost or Maintenance: Solar systems can be costly to install and maintain, especially for large businesses that require an extensive panel array. Community solar programs require no installation, and program participants are not responsible for any maintenance that needs to be done, further saving businesses money compared to traditional solar adoption.
Community Solar Projects in New York State
When it comes to large businesses interested in the benefits of community solar, there’s no better state than New York. Currently, community solar programs, such as the NY-Sun Project, are leading the way, substantially improving our solar energy infrastructure every year as the state works to achieve 10 gigawatts of shared solar energy by 2030.
Today, over 800 active community solar projects exist in New York State, generating more than six gigawatts of solar energy for businesses and residences to share. As solar energy becomes more affordable and accessible, new projects continue to arise.
EnergyMark: Renewable Energy Management for Businesses of Any Scale
As a trusted ESCO with extensive experience in consultation and energy management for businesses of all sizes, EnergyMark is committed to finding comprehensive solutions that help your business save money on energy wherever possible.
Through community solar programs, we help businesses embrace a more renewable future. Contact us today to receive a free, custom quote and determine if community solar is right for you.
