Tennessee Valley Authority (TVA) has launched its Solar Aggregated Value and Education (SAVE) initiative, a community solar program which will result in at least 500 kW of installed solar panels. TVA has issued a request for proposal seeking comprehensive plans for the development of the solar installation. Under the SAVE initiative, a TVA customer would install the solar array on their property or at a government owned facility. The array would be owned by that company and all generated renewable energy would be sold to TVA while the owner retains the right to any renewable energy certificates (RECs). A primary goal of the SAVE initiative is to test the market for upfront purchases of locally generated RECs. The upfront purchase of RECs not only simplifies the REC transaction by making it a one-time event, but also serves as a REC hedge for future potential transactions.
The project may expand beyond 500 kW, depending on the volume of voluntary contributions made by the community. TVA envisions community members making voluntary contributions to the development of the project much in the same way customers contribute to its Green Power Switch Program. In place of REC purchases on individual bill statements, recognition is directly made on behalf of participants who contribute to the site (depending on funding levels). By contributing to the SAVE initiative, individuals and companies can support a tangible solar energy product while working together in a more collaborative manner.
Press Release -
TVA Launches Community Solar Initiative