For the first time in its 77-year history, EPB is offering its consumers a chance to buy into part of a new source of clean electricity generation.
The city-owned utility is selling or leasing shares of its new solar farm built on a former salvage yard EPB cleared near its distribution center at Oak Street and Greenwood Avenue. Aided by a $1.1 million grant from the Tennessee Valley Authority, EPB developed the solar array to give its 170,000 electric customers the chance to buy into solar power and reap the benefits from renewable power.
Such distributed power marks the first time EPB and its power supplier, the Tennessee Valley Authority, is giving customers the chance to own part of the generating assets for their power supply. David Wade, president and CEO of EPB, said hundreds of consumers have already expressed interest in buying or leasing the solar panels to help support more green power generation.
Buying into solar
EPB customers wanted to get a piece of the solar generation will have three options:* 20-Year License: For a one-time payment of $680 per panel, plus annual maintenance fee of $10, a customer will get a monthly bill credit equal to the amount of power generated by your selected number of panels. In its mailing to interested customers, EPB says this option “provides the generation benefits of installing roof-top solar but without the construction project.”* Month-to-Month License: For $5 per panel with no contracts or long-term commitments, a customer’s bill will be credited with the amount of power generated by the licensed panel. EPB says this is “an affordable way to participate in solar generation that provides the generation benefits of licensing a solar panel.”* Energy Offsets: For $5 per 100 kWh per month, customers may offset their carbon footprint with locally generated renewable energy, helping to make an event or room green.More information is available at www.epb.com/solarshare and call to sign up at (423) 648-1372.
“Folks care more today, not just about getting their power, but about knowing where it comes from,” Wade said “This project provides our customers accessibility to local, renewable energy and gives the option of solar power to those who might rent their homes or live in houses where it is not feasible to put up their own solar panels.”