PSC Approves 60-Acre Cooperative Solar Facility
EKPC’s proposal to build a 60-acre solar farm in Clark County, Ky., was approved Tuesday by the Kentucky Public Service Commission.
Next spring, EKPC will begin installing 32,300 solar panels on 60 acres of its headquarters property near Winchester. The solar farm, one of the largest in Kentucky, is expected to begin generating electricity later in 2017.
EKPC and its 16 owner-member electric cooperatives plan to license solar panels to co-op members, who will receive credit on their electric bills for their proportionate share of energy produced. The arrangement is known as Cooperative Solar. Also, check out Cooperative Solar's Facebook page.
With a one-time payment of $460, participants will receive the benefits of renewable energy without having to install or maintain facilities on their own property. Their monthly electric bills will be credited for the value of the energy and capacity associated with their licensed share of the solar farm.
Construction of the solar farm is estimated to cost $17.7 million. EKPC plans to finance the project by issuing New Clean Renewable Energy Bonds to take advantage of federal incentives that can offset much of the interest expense.
Before EKPC’s 16 owner-member cooperatives can begin selling Cooperative Solar licenses, the PSC must approve tariffs under which the transactions can take place. It is expected the co-ops will begin selling 25-year licenses in the next several months.
For more information, contact Inter-County Energy at 1-888-266-7322.