Staff and Wire Reports
Luminia, which finances ESG solutions for companies, has signed a joint development agreement with New Hampshire Solar Garden to secure funding for its projects, including five community solar projects situated in Maine.
The 15 MW of community solar farms are being located in Baldwin, Berwick, Brewer, Eliot and Standish. Residents will be able to purchase credits from a remote solar PV system to reduce their bills.
Founder of New Hampshire Solar Garden Andrew Kellar said, “Community solar is essential for many parties in the transition to renewable energy.”
It is especially useful for renters, home with shaded rooftops and homeowners who are unable to install solar due to certain challenges, the company leaders say.
Upfront costs for consumers, whether they are residential or commercial, are greatly reduced under the community solar model. Some do include termination fees and subscribers typically must still be connected to the grid for electricity reliability.
“Community solar takes a cooperative and mutually beneficial approach to solar projects with Maine communities. Community solar projects create jobs, reduce climate-damaging emissions and decrease reliance on fossil fuels. They also enable towns, schools, businesses and homeowners to save money on their electric bills, all while increasing tax revenues,” said Matthew Fricker, Chairman, Planning Board, Baldwin, Maine.
The Solar Energy Industry Association says 113.5 GW (DC) of community solar has already been installed across the U.S. to date. Another 4.3 GW is expected to be installed over the next five years.
Solar installers can use Luminia’s platform to service rooftop solar transactions. They can also turn to Luminia as a single point of financing for community solar projects.