What is Community Solar?
A community solar project is a solar power plant where the electricity it produces is shared by multiple households & small businesses.
- In a Community Solar project one shared system powers the whole community.
- The electricity generated costs less than the price that PNM charges you.
- This means you can go solar without having the entire system set up on your house.
- Members in the community can measure output with Virtual Net Metering.
- Excess energy can be used as credits that can be applied to future electric bills.
- Small Businesses
- Apartment, Condo, and Townhome Tenants
Community Solar allows tenants in condos, apartments, townhomes and more to save money by investing in a solar garden. Community Solar is perfect for small businesses because it can minimize the costs of electricity and you do not have to instal the panels on your business.
- Incentives such as the Federal Investment Tax Credit (ITC) encourage companies to finance development of solar projects.Thanks toVirtual Net Metering (VNM) in New Mexico, the community solar power option is gaining steam as the primary means for those who are not in the market for rooftop solar to participate in the benefits that solar power systems offer.VNM allows a household or business to receive the Net Metering credits associated with a renewable energy project with which they do not share an electricity meter.