PALM BEACH, Fla. – FinancialNewsMedia.com News Commentary – As solar power technology continues to improve with each advancement, the USE of those technologies is also creating a surge in property owners earning new revenues by becoming a host site for solar farms. The positive impact of solar energy on commercial properties continues to expand. A growing number of landlords and property owners have been installing solar energy systems on rooftops, open land, and canopy-style carports at commercial properties of all kinds. These investments reduce operating costs, promote sustainability, and boost returns on investment. As technology costs have fallen and efficiencies have increased, providing more energy output per square foot, solar has become one of the primary sources of new electrical capacity installed across the United States. An article in Commercial Property Executive, quoting Con Edision Clean Energy Businesses executives, said: “Beyond asset-by-asset investment in solar, commercial real estate owners in a growing number of states can realize even greater savings and efficiency by participating in an increasingly popular program—community solar… under a community solar approach, if your commercial property can host more solar-based electricity than your property requires, the additional energy produced can be sold for the benefit of the surrounding community.” Active Companies in the markets today include Green Stream Holdings Inc., SunPower Corporation, iSun, Inc., First Solar,Inc., Sunworks, Inc..
The article continued: “Community solar also delivers community relations benefits by serving as a quiet, clean source of sustainable energy for the local area. Landlords benefit from lower cost energy while positively contributing to the local community by extending the opportunity for lower cost energy to nearby energy users, who become subscribers to the solar energy output. The number of subscribers who can be served varies based on the size of the system and from state to state based upon community solar qualification guidance. As host, you don’t need to be a participating subscriber although most hosts choose to subscribe to capture the benefit of lower electricity pricing. In addition to the revenues earned by serving as the host of a community solar project, the property owner can realize additional savings in energy costs by participating as a subscriber to the energy output of the project.Thanks to the progressive regulatory policies, falling equipment costs, and advancing technology, community solar can offer exciting and financially attractive opportunities for commercial property owners while building a more sustainable world.”
Green Stream Holdings Inc. BREAKING NEWS: Green Stream Holdings Contracts Nationally Recognized Solar Engineer, KMB Design Group, To Expand Its Footprint With An Additional Solar Feasibility Study For A Fifth Multi Mega Solar Farm; Rochester, New York – Green Stream Holdings Inc., an emerging leader in the solar utility and finance space, today, announced the survey for a 5th feasibility study site at 565 Blossom Road in Rochester, NY. The property owner of this fifth host site has signed an agreement. This new community solar host site encompasses a 350 thousand square foot roof array.
As previously announced, Green Stream Holdings engaged with KMB, a nationally known, full service engineering solutions provider with extensive international expertise in the solar renewable energy field providing photovoltaic design and engineering services, to assist the Company in installing three ground-mount solar farms.
KMB was hired to conduct solar feasibility studies for locations in the State of New York. Their studies will determine the most efficient configuration for the arrays, estimated production matters, utility interconnect feasibility & process, as well as to identify any potential incentive programs.
Other recent Solar developments in the markets include:
iSun, Inc. a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, and SolarCommunities Inc (“SunCommon”) recently announced that they have entered into a definitive agreement pursuant to which a subsidiary of iSun will acquire SunCommon, in a combination of cash and shares of Common Stock.
HIGHLIGHTS WERE: Creates a regional full-service solar installation leader servicing the residential, commercial, industrial and utility-scale markets including solar electric vehicle charging; Positions combined company to effectively capitalize on emerging opportunities in the residential and small commercial landscape; Leverages brand and marketing expertise of SunCommon to effectively grow presence and message in new regional markets; Transaction consideration includes $24,034,621 in cash and $15,965,379 in stock; provides $2.5 million of the consideration directly to SunCommon employees, establishes a stock ownership plan for all iSun employees, and a $1.5 million working capital infusion; Anticipated to be accretive to iSun by doubling projected revenue for 2021; and Alignment of software, shared services and vendor base will enable synergies with expected $1.25 million in savings in year-1 and provide opportunities to reduce customer acquisition costs across all business segments.
First Solar,Inc. has recently invested $11 million in efforts to revitalize American communities and bridge racial gaps in health, wealth, and opportunity. As part of the initiative, the company has purchased $10 million in Impact Notes from the Local Initiatives Support Corporation and made a $1 million Transformational Deposit in the HOPE Credit Union.
“LISC and Hope Credit Union are doing a tremendous job at addressing inequality and, as America’s solar company, we’re proud to be supporting their mission. By working with companies like ours to reallocate cash holdings, they’re creating capital for underserved communities and powering sustainable and inclusive economic change,” said Mark Widmar, chief executive officer, First Solar. “We hope that these investments, which are in line with our commitment to socially- and environmentally-responsible solar, will help communities across America.”
Sunworks, Inc., a provider of solar power and battery storage solutions for residential, agriculture, commercial, industrial, and public works markets, recently announced that it has signed an agreement with CBG Building Company to provide a 752.4kW carport solar system for Orchard Park, a 1,549-bed student housing project on the University of California, Davis (UC Davis) campus.
“California is the nation’s leader in deploying clean, renewable energy, a trend that is accelerating rapidly,” commented Gaylon Morris, Chief Executive Officer of Sunworks. “The University of California system is an active participant in that effort. Utilizing the real estate and supporting infrastructure of the project, such as covered parking structures, to deploy solar fixtures is a great way to reduce energy costs and enable the generation of clean, renewable power. Sunworks is an expert in the design, deployment, and integration of solar energy generating systems and we are excited to work with CBG Building Company and the entire Orchard Park Team on this important project.”
High profile grid failures, power outages and mounting electricity bills are driving many U.S. homeowners to strongly consider and purchase solar with attached storage, according to a new survey released recently by SunPower Corporation. The 2021 SunPower Energy Sense Index surveyed 1,500 homeowners in the U.S. to better understand their home energy experience, industry knowledge, and the factors motivating them to consider renewable energy.