Third Party Ownership
Est. Annual Savings:
In early 2015, Solomon Energy partnered with a large-scale solar developer to take advantage of a new solar program in Connecticut. Up until that point, Connecticut’s Virtual Net Metering (VNM) program was reserved for Agricultural and Critical-Emergency Facilities. With new legislation from the Connecticut Public Utilities Regulatory Authority (PURA), the program opened up to Municipal customers in early 2015. The CT VNM program allows customers to build solar facilities at off-site locations and receive credits from their local utility for the electricity produced by the solar panels.
rnWith extensive experience working with numerous municipalities in upstate New York, Solomon Energy launched a campaign seeking interest from Connecticut municipalities to participate in the solar VNM program. Solomon also entered into agreements with a large-scale solar developer who had acquired land in upstate Connecticut, capable of housing up to 6 MW of solar arrays.
rnAfter identifying and targeting Connecticut municipalities capable of offsetting 2 MW worth of electric usage, Solomon engaged with three towns across the state including the Town of Plainville.
rnWith five schools and a water pollution plant whose combined electric usage exceeds 4 MWh, the Town of Plainville was an ideal candidate for the CT VNM program. The Town’s project, still in the design phase, will receive a PPA price that is currently 25% below the local utility’s rate.This project is expected to produce in excess of $1.5 million in savings over a 25-year PPA period.