(Shelbyville, TN) Duck River Electric Membership Cooperative became the first electric cooperative in the seven state TVA service territory offering members access to green power through the newly constructed 25.92kW solar farm. Ribbon cutting festivities were held Wednesday, August 15th at 1:00pm. Representatives from DREMC’s Board of Directors, DREMC management staff, local school officials, students, elected officials and TVA representatives attended the event.
The DREMC Solar Farm Limited Partnership is located at 1411 Madison Street in Shelbyville, TN. Duck River Electric is the fourth largest electric cooperative in the state providing power to approximately 71,000 homes and businesses in all or portions of Bedford, Coffee, Franklin, Giles, Grundy, Hickman, Lawrence, Lewis, Lincoln, Marion, Marshall, Maury, Moore, Rutherford, Warren and Williamson counties.
The new DREMC Solar Farm Limited Partnership allows its members to invest in solar energy without the cost of installing or maintaining their own system. “Many people don’t want to incur the cost of home solar installation or their location isn’t ideal for solar because of their home design or an abundance of shade trees in the yard,” said Jim Allison, President and Chief Executive Officer of DREMC. “This allows our members to participate in solar energy sustainability efforts at a fraction of the cost of installing their own system.”
DREMC members can invest for as little as $600 for one unit of limited partnership interest. They will see an energy credit on their monthly bill for the duration of their ownership of the unit(s) of interest in the DREMC Solar Farm. Member investors will receive premium pricing offered by TVA in their Generation Partners Program that will help offset their original investment. DREMC will also provide its members with financing for up to a year.
“The partnership with TVA gives our members the opportunity to get in on the ground floor of the solar industry,” said Allison. “We’re proud to offer our members the chance to support efforts in making green energy more widely available and have located this installation in proximity to elementary, middle and high schools so that it can be used as a teaching tool as well.”
Duck River Electric Membership Corporation is a member owned electric distribution cooperative founded in 1936 that currently serves nearly 71,000 members with its headquarters in Shelbyville, TN. Additional information can be found at www.dremc.com.