That Capitol Hill Ecodistrict project we told you about to create crowd-funded solar generation?
Capitol Hill Housing recently solidified plans to install community funded solar panels at its Holiday Apartments property at 10th and E John by the end of October.
It’s ready for you:
Seattle City Light has two projects in which customers can participate in the fall of 2014. Each has a limited number of units, and the paybacks are very similar, so whichever you choose (or if you choose both!) you’ll be helping bring new, clean, renewable energy to our electric grid while benefitting both yourself and an organization that is dedicated to conservation, sustainability and community. As with our previous Community Solar projects, the upfront costs will be paid by Seattle City Light, but ultimately the cost of the project will be paid for by customers who enroll in the program and participate by buying one or more solar units. These customers will in turn be paid back as they receive Washington State production incentives and City Light “virtual net metering” payments that currently total $1.16 per kilowatt hour of electricity generated by a community solar project. As City Light’s rates rise (very slightly) over time, the total payment will also rise as that increased rate is reflected in your payment.
City Light customers can sign up here to buy a unit here:
Starting at $150, anyone with a Seattle City Light account can participate in the Capitol Hill Community Solar program. Made possible by the state’s Renewable Energy Cost Recovery Incentive Payment Program, participants will receive reimbursement for their contribution as a credit on their electric bills through June 2020. Those credits should pay back the cost of a participant’s original investment and then some.