Standard Solar Acquires 35 Megawatt Solar Project Portfolio in Maine

Five net energy billing projects will make solar energy accessible to homes, businesses and communities throughout the state

ROCKVILLE, Md.--(BUSINESS WIRE)--Residents, businesses and towns in the Mid-Coast and Down East regions in Maine will now have access to clean energy through five new net energy billing (NEB) projects. Standard Solar, Inc., a nationally recognized leader in the development, funding, ownership and operation of commercial and community solar assets, today announced it has acquired 35 megawatts (MW) of NEB solar projects in Maine. Standard Solar is funding the projects and will be the long-term owner and operator. All five projects are expected to commence construction over the next 12 months.

Maine’s NEB program allows customers to benefit from clean energy savings by offsetting their electricity bills from renewable energy projects like community solar.

“These projects will save Maine residents and businesses millions off their electricity bills, help boost Maine’s economy through job creation and bring reliable, affordable electricity to residents, businesses and towns,” said Harry Benson, Director of Business Development for Standard Solar. “We’re proud to play an integral part in growing the state’s clean energy transition and the state’s economy.”

The five ground-mount projects will generate revenue through taxes and local economic development for the state and local governments. Combined, they will produce 50 megawatt-hours of electricity, an annual reduction in CO2 emissions equivalent to 39,165 pounds of coal burned and 4,310,301 smartphones charged.

About Standard Solar

Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 200 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.