While renters continue to flood the market and home ownership continues to decline, more consumers find themselves ineligible for a solar array. Unless the homeowner agrees or takes initiative to have a system installed, renters have little to no choice in the matter. Until now, solar shares have allowed renters and home owners alike a “slice,” or share of a larger system. It makes solar energy accessible to those who cannot physically house the system at their residence due to lack of ownership or site issues.
The magnitude of the share varies, depending on local laws, legislature and in some cases, space. Some of the smaller-scale projects are referred to as “solar-gardens” or a community based system. This would allow local residents to pool their resources together, giving them greater purchasing power while reducing the upfront costs. The solar shares range in array size; some providing just enough electricity for a handful of households, others are large enough for a business or even an electric company.
While the demand for solar shares and gardens increases, cities and states are writing legislature that details the structure of a solar garden. For example, Colorado developed the Community Solar Garden Act which allows 10 or more individuals to own a share of the solar array, making them eligible to receive the same tax benefits an individual homeowner receives. There are some restrictions, including:
- A maximum system size of 2 mw
- No subscriber can own more than 40% of the system
- 5% of the community garden must be reserved for subscribers at or below 185% of the poverty line
Although the limitations may deter some users, the fact that solar sharing is now an option proves how flexible and accessible the solar market has become.