Maleny Credit Union chief executive officer Terry Scolari said other interest groups have looked into alternative energy, but a plan has never materialised.
"We want to get a group of people together and say it is feasible to do something on a joint basis for the main street," Mr Scolari said.
Through a hand-picked committee, Mr Scolari said the team would explore each green energy option: hydro, solar or wind.
"We want to find out what has been done, and what can be done," he said.
"If you look at Victoria and Tasmania there are groups who have been using green energy for five years."
Mr Scolari said Maleny was an alternative town, and green energy would be beneficial for the environment and save money for businesses.
"At the moment everyone is putting solar on their own rooves and subsidising their electricity money back in four-five years," he said.
"If you have 10 people putting in $20,000 towards solar, your buying power becomes better."
The feasibility study is part of Maleny Credit Union's Strategic Plan for 2013 to give something back to the community.
To find out more about the study, phone the Maleny Credit Union on 5499 8988 for visit their office on Maple St.
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