What does PowerMarket do?
PowerMarket is committed to making clean energy more accessible, affordable, and widespread. We do this by creating software to manage shared renewable projects, such as community solar. We work with big utilities (such as ConEd) and an array of solar developers to give them the tools and services they need to make these projects run smoothly and get more clean energy on the grid. We also work with a variety of environmental advocacy and community groups to do outreach and education about the energy transition we're in the midst of.
What are community/shared renewable projects (such as community solar)?
Community renewables are the sharing economy for renewable energy. Community solar is the most common form. Instead of installing a renewable energy project on your property, you subscribe to a piece of a large shared renewable energy project built in your area, such as a large solar project, wind farm, or hydroelectric dam. It costs you nothing to join, you save money on electricity, and you support new local renewable energy projects. Enjoy the benefits of renewable energy without the worry.
What does it cost?
It costs nothing to join; in fact, you'll save money on your electricity bill.
How does it work?
When you sign up for a community renewable project, you'll get a share of a big project to meet your energy needs, based on how much you typically use. Each month as your share produces electricity, the amount of electricity generated is put on your utility bill in the form of a credit, deducting it from the amount you'd owe to your utility. Then, instead of paying the utility company, you pay the renewable energy project at a discounted rate, saving you money and directly supporting a local clean energy project.
Why should I join a community renewable project?
You should join a community renewable project if you like saving money, love making a positive environmental impact, and want to participate in our transition to a sustainable energy system, without worry or hassle.
Who can join?
Renters, homeowners, small businesses operators, and places of worship are eligible. As long as your utility rate says residential, small non-residential, or religious, you should be able to join. And, as long as you're located in the same utility territory or "load zone" as the project, you can join that project. For example, people living anywhere in NYC's 5 boroughs can join a project anywhere in the 5 boroughs. A household in Brooklyn can join a project in the Bronx, and a bagel shop in Queens can sign up for a project in Staten Island. We'll help you figure out which project you can join if you're not sure.
What's the catch? This sounds too good to be true.
It is good! It's also true. You can directly support new renewable energy projects while saving money on electricity. The only downside is perhaps that for now, there is a two-step billing process where you get your utility bill with renewable energy credits, then pay for those credits at a discount. Fortunately, all of this is done electronically and can be set up to do automatically to make it as easy as possible.