If you're always saving money by being a Solstice customer, you may be wondering how Solstice makes money - fair question!
First, it's important to know that Solstice does not own the solar farms our customers are subscribed to. We work with solar development companies that specialize in the development and maintenance of these solar farms. However, many of these solar developers do not have the resources or expertise to sign up local residents.
This is where Solstice comes in. We specialize in working with individuals and organizations to educate people on community solar, signing them up for a local solar farm if they are interested, and providing customer support and management when the solar farm is live.
Now you may still be wondering how the developer makes money in order to pay Solstice. Solar developers are responsible for financing and building solar farms, which often cost several million dollars. They earn revenue over time as Solstice customers pay for their monthly solar credits. Instead of selling the energy directly to the utility company at the wholesale rate, they can be profitable over the lifetime of the project (usually 25 years) by offering it directly to households and businesses at a discount.
The fact that developers can earn a higher rate for electricity is due to government incentives at the state and federal levels. State governments have increasingly been adopting community solar programs because they're great for swift increases in renewable energy development.
At Solstice, we use the lessons we learn from interacting with customers to advocate for the best product possible when talking with solar developers. The more people we sign up, the more leverage we have in these negotiations.
If you have any questions or concerns, please don't hesitate to reach out to us at support@solstice.us or 845-853-0768.