The settlement in Spain became the first in Europe, where the residents united in an energy cooperative to reduce the cost of bills, writes TVR. They installed solar panels and share the generated energy according to the principle of solidarity.

In Realengo, a town in Alicante, there are several hundred families who don’t save money and don’t feel stressed about bills. “We didn’t have to make any investments, like other neighboring communities that created their own energy plants. What is the price of electricity now, the bills show savings of 20-22%,” says a local resident.

Joaquin Mas, director of the cooperative: A neighbor who is home during the day when the sun is shining will have a higher level of participation. But a neighbor who is home at night may have a higher rate on weekends, when consumption is higher.

The town hall has allocated more land for 21 photovoltaic installations and wants to expand the project to 30,000 families from across the commune, despite legislation favoring large energy suppliers.

Currently, there are 30 energy cooperatives operating in Spain.

Read the full story on TVR