ROCKVILLE, Md.--(BUSINESS WIRE)--Standard Solar, Inc., a leader in the acquisition, development, ownership and operation of commercial and community solar, has acquired a 6.97 megawatt (MW), 17,785-panel community solar project in Trenton, ME. This acquisition adds to the company’s existing 50 MW portfolio in Maine, further strengthening Standard Solar’s leadership in the state.
“This newest addition to our ownership portfolio in Maine signifies an important step in our push to bring cleaner energy to business and communities and our nation closer to its decarbonization goals,” said Harry Benson, Director, Business Development, Standard Solar. “Standard Solar is always seeking opportunities to fund and acquire additional projects, and we were quick to capitalize on Maine’s 2019 decision to embrace policies that support solar growth.”
The project, part of the state’s Net Energy Billing (NEB), will bring a 15-25 percent energy savings to nine leading Maine businesses who have subscribed, sharing the benefits without having to connect to it or invest in its development. NEB, overseen by the Maine Public Utilities Commission, enables businesses and municipalities to receive financial benefits from clean energy produced by a local solar array.
Trenton’s first large-scale community solar project will bring clean energy savings, local economic development and increased resiliency to these area businesses for many years.
“We expect community solar to be a critical part of Maine’s energy mix going forward,” added Benson.
The solar farm will generate an estimated 10,345 MWh of clean energy each year, enough clean energy to offset the equivalent of 825,000 gallons of gasoline consumed and 1,332 homes' electricity use for one year.
The project utilizes bifacial solar modules - double-sided panels that will help the system generate an additional 15% of output from ground reflection, something particularly advantageous given Maine’s snowy winters.
The project is expected to be completed by summer 2022.
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 250 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.