Construction of the projects is expected to commence in the next six to nine months
Leading solar energy company, Standard Solar Inc., has reportedly inked an agreement with Freepoint Solar LLC to purchase 27 MW (megawatts) of DG (distributed generation) solar projects in Rhode Island and New York. Reportedly, Standard Solar will own, finance, build, engineer, and operate all the five projects, the construction of which is expected to commence in the coming six to nine months.
Relevant sources claimed that the latest move by the two leading energy giants come up in support of the renewable energy portfolio goals of the states. The three DG projects (totaling around 13 MW) in Rhode Island are a part of the REG (Renewable Energy Growth) program of the states, which fosters the progress of about 560-MW new renewable projects between 2015 and 2020 and further allows customers to sell the generation output at a fixed price, under long-term tariffs.
As per a press release from Standard Solar, New York is endeavoring to make solar energy more reachable to businesses, communities and homes through the NY-Sun Program. Both the projects acquired in New York (totaling around 14MW) are community solar projects that offer clean, local energy and sometimes, offset the major amount of electric bills of a house, business or community with predictable rates or terms.
According to Harry Benson, Director of Business Development, Standard Solar, the latest projects are a significant part of the rising DG revolution in the USA where solar projects are said to be interconnected into smaller voltage lines and used to feed into the local electrical system directly. He further commented that the Standard Solar is pleased to work with Freepoint Solar for building out the DG solar project portfolio, which results in local power for local use.
Reportedly, the projects are likely to produce around 115 GWh (gigawatt hours) of electricity, which is sufficient to power over 3,600 homes and can potentially help eliminate about 26,694 metric tons of carbon dioxide from the atmosphere every year.