Community solar leasing is an excellent way to benefit from America’s favorite renewable and sustainable energy source: solar power. If you own a business with an open rooftop, you may have an opportunity to provide yourself with passive income and your neighbors with inexpensive power.
Read on to learn if rooftop solar leasing is right for you and your business.
What is a community solar lease?
The U.S. Department of Energy defines community solar as any solar project or purchasing program, within a geographic area, in which the benefits of a solar project flow to multiple customers such as individuals, businesses, nonprofits, and other groups.
I’ve heard of solar farms, solar parks, solar power plants, solar power stations, and solar gardens before. How do these compare to rooftop solar leasing?
In a rooftop solar leasing project, your existing panels tie into the electrical grid and flow out to subscribers who belong to the community. Solar gardens and rooftop solar are typically smaller scale projects, while farms, parks, plants and power stations are often larger operations. But so long as an array provides solar to multiple customers, they qualify as community solar. It’s really a matter of vernacular.
Are rooftop leases available in my area?
Depends which state you are in and whether your roof qualifies. Let’s start with your state.
- 41 states, plus Washington D.C. have at least one community solar project on-line.
- 22 states, plus Washington D.C. have policies that support community solar.
- Community solar projects represent more than 4.9 gigawatts installed through Q2 ‘22.
What are good specs for my roof?
You’ll want to discuss this with an installation expert. Size, angle, exposure to the sun, and structural soundness of your host roof and property will all need to be taken into consideration. We will be happy to put you in touch with one of our expert installation partners to discuss.
Why would someone want to join a community instead of getting their own solar panels?
They may not be able to afford their own array, or their property might not be suitable for it. You may be able to solve a big problem for a lot of people and make some passive income doing it!
Is this a good income opportunity?
Absolutely. Beyond the tax benefits from the solar investment tax credit (ITC) and net metering, a rooftop lease is where you can really make a return on your solar investment. Once you have an estimate, you’ll be able to calculate your return.
Conclusion
Community solar rooftop leasing is a way to make passive income by providing renewable and sustainable energy to your community at an affordable price. One of the best parts about it is that if you already own your building, your involvement in the process is minimal. Contact us if you’re interested in learning more about this unique way to make the world a better place.