Oswego village trustees have decided to become a part of a community solar program that will save the village an estimated $40,000 annually in electric costs.

The Community Solar program allows the village to subscribe to a remote solar energy project instead of installing panels onsite.

At the Feb. 17 Oswego Village Board meeting, trustees unanimously passed a resolution approving solar agreements with Solstice Power Technologies, LLC.

The idea was recently discussed at a Oswego Committee of the Whole meeting. Adam Hoover, director of strategic accounts at the Northern Illinois Municipal Electric Cooperative, told village trustees Community Solar is a program that is guaranteed to provide 10% savings while still finding the fixed rate savings that NIMAC brings.

NIMEC serves as the broker and consultant for the village’s electrical aggregation program.

“I’m not asking to install solar panels anywhere,” Hoover said. “It is a state of Illinois credit. You would be renting solar panels from rural Illinois. I was out actually driving in Dixon today to see a couple of other towns we work with and I saw about three or four of these huge solar farms that you guys could be renting power from. In turn, you guys would receive 10% off, which is about $40,000.”

Community Solar in ComEd territory allows residential and business customers to subscribe to a remote solar energy project instead of installing panels onsite, Oswego finance director Andrea Lamberg told village trustees

“Participants receive monthly Community Solar aggregation credits on their ComEd electric bills based on their share of solar generation, which offsets the electricity supply portion of their bills,” she said.

Oswego Village President Ryan Kauffman liked the fact that over the life of a 20-year contract, the village could save about $800,000.

“If electric prices rise, it could be even greater than that,” he said. “It’s a good deal all around.”