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6 FAQs about [Rural cooperatives do solar power generation]
Are rural electric cooperatives a good idea?
You'll be asked to sign into your Forbes account. Rural electric cooperatives provide power for huge swaths of the country, providing electricity to 56% of the United States’ landmass. And now, thanks to federal clean energy tax incentives, they could cut consumer costs in low-income communities across the country.
Can rural cooperatives reduce energy costs?
A new analysis shows these rural cooperatives could reduce energy costs by 15-20% from today’s levels by adopting clean energy, with the least cost energy pathway delivering 80-90% clean electricity within the next decade. UNITED STATES - SEPTEMBER 16: Wind turbines, rural Missouri (Photo by Carol M. ... [+]
Why should rural electric cooperatives join the era program?
Thanks to the New ERA program and direct-pay tax credits, along with PACE, REAP, and EIR, rural electric cooperatives have a unique opportunity–become America’s clean energy leaders, drive rural economic prosperity, and lower costs to members.
What is a solar co-op?
A solar co-op is made up of individuals, businesses, or both, partnering up to meet their shared energy needs and typically receiving bulk discounts. This is not to be confused with community solar, which is defined as any solar project or purchasing program in which the benefits of a single solar array or project flow to multiple customers.
What are the new funding opportunities for rural cooperatives?
The new funding opportunities for rural cooperatives don’t stop there – the “ Powering Affordable Clean Energy ” (PACE) program will administer another $1 billion in largely forgivable loans through the Rural Utilities Service that applicants can use to purchase renewable energy systems like wind, solar, and storage.
Can a solar co-op save money?
Joining together with other people who also want to go solar can result in saved money through the bulk purchase of solar technologies. That’s the logic behind solar cooperatives, or co-ops. A solar co-op is made up of individuals, businesses, or both, partnering up to meet their shared energy needs and typically receiving bulk discounts.