[rps-include-content blog=”1″ post=”844″]Another part of the new legislation is establishing a Value of Solar (VoS). The VoS is a rate that includes all of the environmental and financial benefits of a solar installation.
What is the value of not burning coal and oil to create electricity? What is the value of eliminating high cost infrastructure upgrades like high voltage transmission lines or more power plant upgrades?
The VoS Rate will put a true value on all those benefits received by the utility company when a solar system is installed.
The VoS rate does two things for Minnesotan’s:
1. It allows for a guaranteed rate of return for the next 20 years of production of a solar system and
2. The VOS rate encourages lending from financing companies so you can install solar at little to no up-front cost.
The rate methodology has been announced and adoption by utility companies is expected to begin this year.