Southwest Rural Electric Cooperative is offering its members the opportunity to purchase solar power.
SWRE and its power provider, Western Farmers Electric Cooperative, are currently constructing two solar fields – a 250 kW field in the Frederick area and a 100 kW field south of Vernon, Texas.
Any SWRE members who opt to participate may purchase a “share” in the fields equivalent to one solar panel, and lock in a guaranteed rate for the next 25 years.
The Community Solar concept allows members to utilize solar power without the significant expense or responsibility of installing, maintaining, or insuring solar panels on their own property.
Shares in the solar fields cost $350 each, payable at the time of purchase. A total of 1,368 shares are available – 950 in the Frederick field and 418 in the Vernon field. Shares may be purchased in quantities ranging from one to 25. Any SWRE member, at any location in the co-op’s service territory, may participate.
After the share purchase, members will be credited on their monthly SWRE bill based on their portion of the fields’ production. Participants will not own any of the panels or infrastructure.
At current power rates, it is estimated that the payback period for members who choose to buy shares is about 16 years.
The solar fields are being constructed on tracts of land that are owned by SWRE – one mile south of Frederick on U.S. 183 (at Airport Road), and south of Vernon on Center Drive adjacent to Madison Crossing Apartments.
Construction of the two solar fields began in August and is being completed in stages. They are expected to be operational by December or January.
More information about the Community Solar project is available by calling SWRE at 800-256-7973 and at SWRE’s website www.swre.com.