Katywil is very excited about our community solar project which has been in planning stages for almost a year. Read more…
We initially organized our efforts around a cooperative business entity, Katywil Power & Light, LLC, that allows us to add new shareholders at various affordability levels. Thanks to Massachusetts’ Net Metering regulations, shareholders receive a credit on their electric bill in excess of what they consume and in accordance with their investment in the array. Electrical production is monitored by a single meter which basically runs backwards whenever the sun is shining and the array is producing power.
Katywil Power & Light, LLC also plans to take advantage of Solar Renewable Energy Credits (SRECs) and a US Treasury grant to offset our costs. The SREC program allows generators of renewable energy to sell credits to businesses like utilities who need them to comply with government regulations. These credits accrue automatically to solar panel owners and are paid to them by check every month.
The idea of renewable energy production has always been part of Katywil’s vision, but when we looked at the various federal and state financial incentives we learned that following a “green” vision also has an attractive pay back. We expect our solar array to break even in about 7 years with a lifetime return on investment of over 8%.
Along with producing electric power, our vision also includes a community electric car which can be charged by the solar array. We hope to be able to drive into nearby towns using only fuel from the sun. Our savings on gasoline will increase the lifetime return on investment of the array and as fuel prices go up we will feel less of a pinch in our household budgets.
