Standard Solar, Inc. has introduced the financing and operation of 17 group photo voltaic tasks in Minnesota and Massachusetts totaling 24.6 MW of capability. Tax fairness financing for these tasks was secured in a partnership with Crestmark, a division of MetaBank.
Massachusetts and Minnesota account for about half of cumulative capability of group photo voltaic all through the U.S. based on the National Renewable Energy Laboratory.
Sixteen of the group photo voltaic tasks are in Minnesota and all have achieved operation. Minnesota’s group photo voltaic program is among the strongest within the U.S. and the tasks are anticipated to generate three.89 million kilowatt hours (kWh) of solar energy yearly for purchasers underneath long-term contracts, stated Standard Solar.
The final venture, a 2.Eight-MW photo voltaic array in Massachusetts, is anticipated to be accomplished this month (February 2021) and can transfer the Commonwealth nearer to reaching its Renewable Portfolio Standard of 35% by 2030. Community photo voltaic is among the fastest-growing sources of renewable power in Massachusetts.
With the addition of those tasks, Standard Solar’s portfolio of group photo voltaic tasks funded and working with companions across the U.S. reaches 175 MW.
Jon Ellis, Vice President of Alternative Energy Finance at Crestmark, stated, “Crestmark is dedicated to all types of various power, together with group photo voltaic. Partnering with Standard Solar on these tasks helps our mission of offering revolutionary monetary options to shoppers and companies in underserved area of interest markets.”
Community photo voltaic is an efficient means to offer clients entry to the advantages of unpolluted power, advance the clear power workforce and financial affect and drive tens of millions of of funding within the space the tasks are positioned.
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