Coast Electric announced at its Annual Meeting in November that the company will be offering a new renewable energy program to its members, which will initially be offered in a limited amount. More members will have the ability to take advantage of the renewable energy program as more renewable sources are constructed over the coming months.
Why is Coast Electric offering this program?
- Surveys have shown a large amount of Coast Electric members are interested in actively pursuing participation in renewable energy sources, like solar.
- Solar energy generation costs have fallen, making large-scale solar facilities more affordable for electric utilities. Rooftop solar, however, can still be very costly for end-users. Coast Electric believes offering a renewable energy pro- gram to members is beneficial for many reasons.
What are the benefits?
- Purchasing solar energy from Coast Electric is less expensive than remodeling your home to accommodate rooftop solar panels.
- Rooftop solar simply isn’t an option for many people. If you rent, live on a shaded lot, or don’t have the means to pursue a rooftop system, this might be a great way for you to use a renewable energy source.
- You will never have to repair or maintain solar panels if they are damaged and need to be replaced.
- Members who choose to purchase solar capacity can lock in the rate they pay now for the next 20 years. This means as the cost of electricity increases, the cost for your solar capacity stays the same. You can also cancel any time you like.
What will it cost?
- Currently, Coast Electric members can purchase up to four kW of solar capacity in one kW increments.
- The cost will be $18.10 per solar kW purchased per month.
- Solar output is expected to produce an average of 164 kilowatt- hours per month per kW purchased. The number of kilowatt-hours that are produced by the solar units purchased will be subtracted from your kilowatt hours used. This means you are getting net metering.
For example, if you purchase two KW of solar capacity:
– You will be billed a total of $36.20 ($18.10 x 2) for your two kW of solar purchased.
– If your use for the month is 1,500 kilowatt-hours and you purchased two kW of solar capacity that in turn produced 164 kilo- watt-hours each, the charge for 328 kilowatt-hours (164 x 2) is subtracted from your 1,500 kilo- watt hours, so you will only pay for 1,172 kilowatt hours. Why should I sign up for the program instead of rate?
- That is an individual choice each member who is interested in pursuing solar must determine, but Coast Electric employees are here for you to help you determine which may be the better fit for your home. We want to be your source for helping you with renewable energy decisions. As a not-for-profit company, we are able to help you make the best decision for you, not to gain profit.
How do I sign up?
- If you’ve considered all of your options for renewable energy and decide you want to sign up for our renewable energy program or to get a more detailed explanation, it’s easy! Simply call us at 877-769- 2372 and ask to speak to one of our residential energy representatives, or email email@example.com.