LINDEN, Ind. (WLFI) — Tipmont REMC is now offering a chance for customers to use a “greener” alternative to traditional energy.
The company announced Wednesday a new community solar program being offered to its members.They will soon begin construction on solar array on Tipmont property near the Linden headquarters. The array will be made up of 240, 410-watt, solar panels. Construction is expected to be complete and the solar array operational by the middle of October.
Tipmont officials said there has been a growing interest in purchasing or generating renewable energy for homes and businesses. They think Community Solar provides an alternative to permanently installing solar equipment on an individual property.
In a release to News 18, Tipmont energy management supervisor, Jason Monroe, said it provides a solution for members who want to participate in solar energy, but don’t want to commit to the large investment required to install and own their own solar panels.
“Many members have other limitations to solar,” Monroe continued. “They may be renting, have overly shaded or small yards, or a roof that’s not suitable for supporting solar panels. Community Solar will work for members regardless of these situations.”
The co-op owns and maintains the solar array and allows members to purchase “shares” on a per-panel basis. Officials said each panel costs $1,250 and members can purchase energy generated from one to 10 panels for a period of 25 years. Participants will receive monthly bill credits and there are payment options available.
According to Monroe, members could expect an average bill credit of $5 per month during the first year of the program.
“Members purchase the output of a panel and pay for it today. The amount of energy produced by the solar panel is calculated using the current electric rate and a credit is added to the bill,” Monroe explained. “If rates increase over time, so will the bill credit and the value of the purchased solar energy. Community Solar offers members a way to set the price for a portion of their electric needs for the next 25 years.”
Tipmont officials said starting Wednesday, members can add their name to a waiting list and reserve a solar panel.
To learn more or to participate in Community Solar, contact Tipmont REMC at 800-726-3953 or click here.