nexamp Archives | Citizens Utility Board https://www.citizensutilityboard.org/blog/tag/nexamp/ Fight utility rate hikes, promote clean energy, and advocate for consumer protections in Illinois. Mon, 05 Aug 2024 20:39:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 https://www.citizensutilityboard.org/wp-content/uploads/2020/09/cropped-CUB_LogoBadgeAlt-32x32.png nexamp Archives | Citizens Utility Board https://www.citizensutilityboard.org/blog/tag/nexamp/ 32 32 Nexamp: CUB’s evaluation of a new community solar offer https://www.citizensutilityboard.org/blog/2020/10/27/nexamp-cubs-evaluation-of-a-new-community-solar-offer/ Tue, 27 Oct 2020 17:43:27 +0000 https://www.citizensutilityboard.org/?p=28449 This is an evaluation of Nexamp’s community solar offering. (If you are not already familiar with community solar, we recommend reading our Introduction to Community Solar first.) How will signing up for the Nexamp community solar offer affect my electric bill? When you sign up for community solar, you are subscribing to a portion of the project’s monthly output. Nexamp  will analyze your household’s energy demand to determine your subscription size.  Each month, Nexamp  will report the output of your subscription to your electric utility, and the utility company will add a credit to your electric bill equal to that output. You will also pay a second monthly bill to Nexamp. Nexamp will bill you for the energy generated by your subscription, with a 15% discount applied. That’s where the savings come in.   So, rather than paying your electric utility for that clean energy you are paying Nexamp, at a discounted rate. The total amount you save monthly will vary as the solar production of your subscription varies. Example: Say you are currently paying your electric utility 10 cents/kWh. Through community solar, you will be paying 8.5 cents/kWh (15% discount on the supply) for any electricity produced by the farm. What about alternative suppliers? All customers, regardless of their alternative electricity supplier, can now receive solar bill credits as part of a community solar program. Learn more about alternative suppliers for consumers in ComEd territory and Ameren territory. What does CUB think about this offer? Community solar allows more Illinois consumers to support renewable energy, and CUB is pleased to see more offers hit the market. From reviewing the terms of Nexamp’s offer, we did not see any red flags. Still, we recommend comparing multiple offers and understanding all the terms before signing up for community solar. Always read your contract thoroughly. This chart summarizes key points about the Nexamp deal:* What utility territory does the company serve? Ameren and ComEd. Does the company offer savings? Yes. Nexamp offers 15% off the utility default supply rate for the community solar bill credits you receive. Nexamp also has ILSFA farms in ComEd and Ameren territory, which offer at least a 50% discount. Is there a credit check when I sign up? No. What is the contract term? 15 years. Is there an “exit fee” for leaving the contract early? There is no exit fee, though Nexamp requires 90 days’ notice of cancellation. What are my billing options? Nexamp automatically enrolls customers in automatic paperless billing, but you can switch to paper bills or non-automatic payments anytime. When will my subscription go live? When will I start to see credits on my utility bill? This depends on when the community solar garden you are assigned to is completed. The Community Solar Standard Disclosure Form you receive from Nexamp includes the month they expect your subscription to go live in the “Subscription Specifications” section. Once you sign up, you can also check your customer portal for updates on your project. What happens if I move? If you move within your current utility territory you can take your community solar subscription with you. If you move outside of the utility territory, you can […]

The post Nexamp: CUB’s evaluation of a new community solar offer appeared first on Citizens Utility Board.

]]>