Florida Keys Electric Cooperative consumer-members interested in solar energy now have an innovative new green power option.

The Simple Solar Program is available only to FKEC members and is part of the cooperative’s dedication to the environment and the future.

Co-op members who support alternative energy but don’t want the hassle of designing, permitting, building, maintaining and insuring their own residential solar arrays can now lease panels in FKEC’s existing array.

In return for leasing one or more panels for $999 each, members receive monthly bill credits for the full retail value of the electricity generated by their leased panel(s) for 25 years.

“This program was designed for environmentally-conscious individuals who want an easy, affordable alternative to installing their own renewable energy source,” said CEO Scott Newberry. “By leasing our panels, you instantly add solar energy to your home without any hassles.”

One of the major advantages of the program is that FKEC will maintain the solar array so the consumer only pays the one-time cost of the panel.

“The cost of energy is expected to increase in years to come in the wake of both pending Climate Change legislation and the depletion of the fuels that run traditional power plants,” Newberry said, “so the retail value of the energy produced by these panels is expected to increase over time. When this happens, the bill credits will also increase to reflect the current retail value of electricity.”

Each 175-watt panel will generate around $36 in bill credits in the initial year. Assuming a 3% annual increase in the retail price of electricity, the $999 investment per panel should return about $1,280 in total credits.

FKEC’s Marathon array consists of 552 panels and the Crawl Key array adds and additional 120 panels. When a panel is leased, the leasing member will receive the panel’s serial number and location. That panel’s actual production will then be credited to the leasing member for 25 years.

“FKEC is proud to be exploring green energy solutions and we really see our cooperative solar farm as a first step in the right direction,” Newberry said.

“We are also interested in wind power and the possibilities of tidal energy development. This solar panel lease program will help us fund the next generation of ‘green’ power as we work towards adding more and more renewable energy to our local power supply.”

Simple Solar At-A-Glance:

• Lease FKEC’s existing solar panels
• Panels are located on FKEC’s property
• One time $999 investment for each 175-watt panel
  
• In return for your investment, receive bill credits for actual retail value of your leased panel(s) for 25 years
  
• No limit on number of panels that can be leased per member or business
  
• Monitor the live production of the solar array anytime on FKEC’s website
• If you move your electric service to a different location within FKEC’s service territory anywhere from North Key Largo to Marathon, you still receive the monthly bill credits from your solar panels

Program Benefits:

• FKEC has already installed the solar array and it has performed above expectations
• FKEC assumes all responsibility for maintenance and insurance
• Allows people at all income levels to support solar energy and participate in the future of energy generation
• Your investment funds future alternative energy generation
• Clean power with no carbon emissions