Customers of Wisconsin’s second-largest utility can now invest in solar energy without having to install any panels.
Alliant Energy announced Tuesday it is offering shares in its first community solar garden, a 1-megawatt project to be built next year near Fond du Lac.
Customers throughout Alliant’s Wisconsin territory can purchase shares in the project for $1,500 per kilowatt — available in 250-watt blocks for up to 100% of their annual use. In return, residential customers will receive bill credits of 6.3 cents per kilowatt-hour for the energy generated, which is fed into the electric grid. (Commercial customers are credited 5.6 cents per kilowatt-hour.)
Regular retail rates — about 11.7 cents per kilowatt-hour for residential customers — still apply to the energy customers’ use.
Alliant anticipates it will take about 14 to 16 years to recover the initial investment, which means customers could expect a 30% to 40% return over the 20-year contract.
Ben Lipari, director of resource development, said the project is part of Alliant’s transition away from fossil fuels and also a response to customer demands.
