Participants, also called subscribers, can buy or lease a share of the community solar system; this share is typically measured by units of solar panels or electricity purchased from the community solar system. Participants are credited on their utility bill for the energy produced by their share of the system.
Residential households, whether property owners or renters, can qualify for this program as a subscriber if they meet the income requirement of 80% or less Area Median Income or if they reside in a Housing and Urban Development (HUD) Qualified Census Tract (QCT).
The budget for the Low-Income Community Solar program is up to $12.5 million per year. Qualified participants who subscribe to a Low-income Community Solar project do not incur upfront costs, and any ongoing costs and fees will not exceed 50% of the value of the energy produced. The Low-Income Community Solar program allows participants who are renters or who cannot install solar on their rooftop because of shading or other structural limitations to benefit from affordable solar.
Details on the value of Renewable Energy Credit (REC) payments can be found here. RECs are created when solar panels generate electricity, but they do not represent the electricity itself. Instead, they represent the environmental value of the electricity generated from solar panels. RECs are important because they can be bought and sold. Your Approved Vendor will be paid for your system’s RECs, which will help enable it to pass on savings to you.