Case Study: Community Solar

Neighborhoods and condominium developments have prime real estate for solar installations, and can enjoy discounts on installations, as well as all the advantages of “going green.”  The way it works is that a group of homeowners, such as in a condo development, band together to purchase solar and they enjoy the discounts that result from the economy of scale. Such a project was recently completed at Somerset Run, a 55 and over community in Somerset County, Franklin Township, New Jersey. Pete Ramsey, Manager of Business Develop at GeoGenix said that, to his surprise, he’s found that residents of adult communities like Somerset Run are particularly interested in community solar arrangements. He said that the discounts, along with generous state and federal incentives, make solar an attractive investment for seniors whose money is often in CDs, getting very low rates of return.  “Once we explain the five-year payback and the fact that their electric bills will remain steady, they see solar as a safer investment than what they’re currently getting with their money in the stock market or in CDs.”

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