It’s no secret that solar saves, but with Oregon’s pilot Feed in Tariff program, it also pays. Pacific Power customers who go solar can be paid a premium rate for the electricity that they produce—2.5 times more than they currently pay for power. The upcoming October 1 allocation marks the first time that local solar design and installation company, Sunlight Solar, has been able to offer a $0 down option for homeowners.
Pacific Power customers who are chosen for the program are incentivized in two ways: through savings on their electricity bill; and through monthly checks from Pacific Power for 15 years.
The Feed in Tariff (FIT) Pilot program is reaching the end of its two year trial. October 1 marks the final official allocation. Since its inception, the program has been widely popular throughout the state and has awarded funding for 25 MW of solar capacity. Any additional capacity could be awarded in April 2014.
The upcoming October 1 allocation marks the first time that local solar design and installation company, Sunlight Solar, has been able to offer a $0 down option for homeowners. By partnering with SunPower, the manufacturer of some of the world’s most efficient panels, homeowners will have the option of installing system that will provide them with instant savings, while paying nothing up-front. Unlike many financing programs, this option allows solar customers to own the system.
Up until this point, the hurdle to many individuals interested in the FIT, has been the up-front cost. While the return on investment is substantial, so was the initial cost. Now, with no initial investment, customers can still expect to earn approximately $45,000 over 25 years and own a 10,000 Watt solar system.
Industry trade groups such as the Oregon Solar Energy Industry Association (OSEIA), are advocating for the expansion and adoption of the program. OSEIA was successful with helping to pass an extension of 2.5MW feed in tariff capacity which was recently signed into law by Governor Kitzhaber. “However, the details have yet to be worked out at the Public Utility Commission and for residential customers it would be best to utilize the final program”, says Paul Israel, President and Chairman of OSEIA.
Those who are interested in learning more about the last Feed in Tariff are encouraged to attend an informational session at Sunlight Solar Energy:
Monday, September 16 at 5:30pm
Sunlight Solar Energy
50 SE Scott St (behind Sparrow Bakery)
October 1 is the deadline for submission of applications for Pacific Power customers who are interested in applying for the Feed in Tariff.
