East Kentucky Power approve to sell solar leases

FRANKFORT, Ky. (AP) – The Kentucky Public Service Commission has approved a proposal to allow East Kentucky Power Cooperative Inc. to offer its customers a chance to buy in to a solar panel farm planned in Clark County.

The proposal would allow the utility’s customers to buy licenses for one or more of the 32,000 solar panels that will be installed on the solar farm. Customers would pay a one-time fee of $460 per panel for a 25-year lease.

The electricity generated would be used to offset the customer’s electric usage, and customers would also receive solar renewable energy credits that can be sold or retired.

The PSC says the project gives customers an opportunity to tap into solar power without installing panels at home.

The total capacity of the project is 8.5 megawatts.

 

Copyright 2016 The Associated Press.

Categories: News, State News

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