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The REC's and utility emissions would be calculated together on the net emissions channel.
An additional blockchain could be set up to manage members' subscriptions, so that new members could stake to join a network or purchase shares from exiting members. The exact mechanics would depend on the local regulations for community solar projects.
Because renewable energy projects are long-term investments, they produce a stream of projected REC’s and cash returns. If we develop a market for forward REC’s by allowing people to purchase or sell them in future years, we could let people with short-term leases subscribe to the network and get the benefit of renewable energy.
References:
CDM ACM0002: Grid-connected electricity generation from renewable sources --- Version 20.0