TRAVERSE CITY — Traverse City Light & Power board members approved the final step in implementing a community solar project in partnership with Cherryland Electric Cooperative.
The Solar Up North Alliance program provides an opportunity for both utilities’ residential and business customers to invest in solar energy panels. Those who invest in the project will receive a monthly bill credit initially estimated at about $2 per share for the project’s overall energy production.
TCL&P customers can purchase a share equal to one solar panel for $470, less a $75 rebate offered through TCL&P’s energy optimization program. Eight customers for the city-owned utility already reserved panels, a utility spokeswoman said.
The utility will hold an informational meeting for customers to learn more about the project on May 23 at 6:00 p.m. in the TCL&P office at 1131 Hastings Street.