An electric co-op in Lakes Country is investing in a community effort to use solar energy and hopes its customers do too. Minnesota made solar panels are now for sale to Lake Region Electric Coop Customers.
“Green renewable solar energy. Less expensive than installing a solar energy system on their own property.”
These 96 panels will have the potential to power 8 to 10 homes per year. The going rate: $1500 each.
Vice President of Energy Services, Dan Husted, says a selling point of the project is that it’s entirely up to each customer if they want to invest.
Husted: “It has no impact on the overall rate.”
Husted says he began selling panels last week, so far three have sold.
Husted: “Each member that wishes to purchase a panel receives a credit on their bill equal to their share of the production of the entire array.”
As the price per kilowatt of electricity rises, customers will receive more money back on their billing statements.
Plus, they won’t be affected by the rate hikes. By purchasing a panel you’re locking in the price of your electricity for 20 years.
So what happens if you move or feel as though you made a bad investment?
“Give it to someone in your family, donate it to your church, sell it to another neighbor or someone you know.”
The project has been a year in the making, and will be in use by January. For those who purchase panels, Hustad says it will be paid off in 18 years.