Central Virginia Electric Cooperative (CVEC) filed a Community Solar rate with the State Corporation Commission (SCC) in December 2017. The rate was approved in May 2018 and CVEC launched its community solar program, Solar Share, thereafter.
Construction was completed on two solar generation farms, and CVEC finalized a purchase agreement with Coronal Energy, which locks in the cost of solar power until 2043. The solar farms will produce a total of 10 megawatts (MW) of energy, making them the largest solar project for an electric distribution cooperative in the state. CVEC will add 60% of the solar energy to its power supply portfolio for use by all 39,000 members, while the other 40% of the energy output will be offered to its members for subscription through CVEC’s Solar Share program. Shares are limited to 11,000 blocks.
CVEC is excited about this opportunity to offer solar energy to members who wish to use green energy but are unable to install solar panels on their dwellings. Solar energy enables CVEC to fulfill its mission, offering clean, renewable energy and adding to its already diversified power portfolio.
CVEC Solar Share Introduction
Purchasing Solar Blocks
Through Solar Share, residential members may purchase blocks of solar energy, for a total of 1,000 kWh per household. The cost per 50 kWh block is $4.50. The subscription rate for this solar energy will be locked in until the year 2043. The kWhs purchased and consumed through Solar Share will not be subject to rate increases or PCA adjustments related to energy costs during that time.
Subscribers will still be responsible for paying the distribution costs associated with their solar shares. All kWh consumed, above what is purchased through Solar Share, will be subject to rate increases and PCA adjustments related to energy costs.
The diagram below shows kWh costs for a bill with and without solar shares:
Solar Share Advantages
Solar Share is an excellent option for members who occupy rental properties or otherwise are unable to install panels on their homes. There’s no need to worry about putting holes in your roof, your home’s orientation to the sun, or neighborhood covenants. It provides a no-contract, affordable, and maintenance-free option for clean, renewable energy.