Vermont Electric Cooperative Co-op Community Solar Agreement

  1. Community Solar Participation
  2. Eligible Participants.

The program is open to all VEC members.

The participant agrees to sponsor panels at the Co-op Community Solar project located at XXX in Alburgh (“Solar Farm”). VEC agrees to provide a monthly solar energy credit as described in Section 4. The Solar Farm will be owned, operated, maintained, and insured by VEC’s partner CMES Vermont, LLC.

A participant can sponsor up to 67 panels for the 10-year program and up to 60 panels for the 20-year program, or the equivalent of their annual bill charges, whichever is smaller.

1.2Environmental attributes

A participant’s share of the environmental attributes acquired by VEC from the Solar Farm shall be retained and retired by VEC and used to meet VEC’s renewable distributed energy requirements under Act 56. The participant’s share will be determined by dividing the capacity of the number of panels sponsored by the total capacity of the Solar Farm.

“Environmental attributes” means any and all rights, credits, benefits, emissions reductions, offsets, and allowances resulting from the environmental or renewable characteristics or attributes of the Solar Farm or the avoidance of the emission of any gas, chemical, or other substance to the air, soil, or water, which are deemed of value by VEC, in each case now or hereafter created or recognized by any governmental authority or independent certification association or entity generally recognized in the electric power generation industry and generated by or associated with the Solar Farm. Environmental attributes include Renewable Energy Certificates (RECs).

  1. Consideration. As a consideration of the participant’s right to receive solar energy credits pursuant to this agreement, the participant agrees to make a payment based on the number of panels and the term of the contract (i.e., 10 years or 20 years).
  1. Term. This agreement shall be effective on the contract date and will continue for a period of 10 or 20 years, depending on the participant’s chosen contract length. Participants can choose to terminate this agreement early and will receive a discounted portion of their initial payment based on how many years they participated.
  1. Solar energy credit. During the term, the participant will receive a fixed solar energy credit based on the number of panels sponsored and the term of the contract. The participant will begin receiving the solar energy credit on their next bill and will continue receiving the solar energy credit until the contract term expires or the participant choose to terminate the contract.

The solar energy credit will be applied to any and all charges on the participant’s electric bill, including customer charges, energy charges, energy efficiency charges, and street light charges. If the credit is larger than the charges in a given billing cycle, the credit will remain on the participant’s account to be applied to future billed charges. The participant will not receive a payment for any excess solar energy credit.

The solar energy credit cannot be used to pay the participant’s loan payment even if the participant chooses to use on-bill financing.

  1. Billed charges. The participant’s monthly electric charges will be the same as they would be if the participant were not sponsoring panels through the community solar program.
  1. Opt out. At any time and for any reason, the participant can choose to discontinue their sponsorship of panels in the Solar Farm. The participant will receive a discounted portion of their initial payment, the percentage of which will depend on how many years the participant sponsored panels and received solar energy credits (see attached chart). VEC will process the request for opt out within 30 days.
  1. Transfer of solar credits. The participant can also choose to transfer remaining solar energy credits to another VEC member. The participant must notify VEC that they would like to transfer their remaining solar credits and provide the required information on the request to transfer form, including the name and account number of the member they would like to transfer their credits to. VEC will process the request for transfer within 30 days.
  1. Additional agreements. The parties further acknowledge and agree that:

8.1 The participant will not have access to the Solar Farm without VEC permission. Participants will have no ownership, possession right, or control of the Solar Farm and will have no obligations with respect to the maintenance or operation of the Solar Farm. This agreement does not convey to the participants any right, title, interest in or to any portion of any property (tangible or intangible, real or personal) underlying or compromising any portion of the Solar Farm.

8.2 The participant is not relying on any representation, warranty, or promise with respect to VEC’s Co-op Community Solar program or the Solar Farm made by or on behalf of VEC, except to the extent specifically stated in this agreement.

8.3 Nothing in this agreement shall be deemed to alter or modify any rate, charge, term, or condition of the electric service provided by VEC or to modify in any way the participant’s rights and obligations as a member of VEC. All of VEC’s rates, charges, terms, and conditions of electric service shall remain subject to change in accordance with applicable law and tariffs at any time.