Local power for local use solar projects
support states’ renewable energy portfolio goals
ROCKVILLE, Md.—February 21, 2019 — Standard Solar, Inc., a leading solar energy company specializing in the development and financing of solar electric systems nationwide, today announced it has signed an agreement to acquire 27 megawatts (MW) of distributed generation (DG) solar projects in New York and Rhode Island from Freepoint Solar LLC. Standard Solar will engineer, build, finance, own and operate all five projects which are expected to commence construction over the next six to nine months.
The three DG projects in Rhode Island, totaling approximately 13 MW, are part of the states’ Renewable Energy Growth (REG) Program. Rhode Island’s REG Program supports the development of 560 MW of new renewable energy projects in the state between 2015 and 2020 and enables customers to sell their generation output under long-term tariffs at a fixed price.
Similarly, New York state is making solar energy more accessible to homes, businesses and communities through its NY-Sun Program. Both projects purchased in New York, totaling 14 MW, are community solar projects. Community solar offers local, clean energy that can often offset a greater portion of a home, or communities’, or business’ electric bill with predictable rates and terms without having to install solar on their building.
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