This project provides significant environmental benefits for the community and huge savings for housing authorities and tax payers. This is a win-win.
Avon, CT (PRWEB) December 08, 2015
Lodestar Energy LLC, a leading developer of renewable energy projects focused on solar-photovoltaic (PV) technology, has reached an agreement to construct, own, and operate two 650kW solar projects in Berkshire County MA, one in Cheshire and the other in Great Barrington, Massachusetts. Among the purchasers of the power, the Towns of Cheshire and West Stockbridge have contracted to purchase the discounted net metering credits through a long-term contract. Additionally Lodestar has executed over 20 contracts with low-income housing authorities across the state to participate in similar programs, making it the single largest contractor with the Commonwealth’s public low-income housing authorities.
“We are pleased to be involved in this innovative solar project by Lodestar Energy which will generate tax revenue for the Town of Cheshire in addition to savings hundreds of thousands of dollars in energy costs for Cheshire and West Stockbridge,” said Mark Webber, Town Administrator.
Massachusetts has been among the most active states in solar PV, ranking fourth in the country in 2014 with 308.2 MW of installed solar-electricity capacity. Lodestar is helping Massachusetts reach its goal of 1.6 GW of solar energy by 2020 by constructing high quality solar projects in the right locations across the state.
Massachusetts’ virtual net metering program encourages developers to find sites where solar energy is the highest and best use of the property. The discounted net metering credits generated can then be applied virtually to nearby municipalities, housing authorities, or local businesses.
“At Lodestar, we emphasize that we can do both well and good at the same time -- this project provides significant environmental benefits for the community and huge savings for housing authorities and tax payers. This is a win-win,” says Jeffrey J. Macel, Principal and Managing Member of Lodestar
“Our involvement with low-income housing authorities is unparalleled in Massachusetts and a defining principal of Lodestar. Lodestar is working with the Department of Housing and Community Development (DHCD) and progressive leaders of low income housing authorities across the state to provide discounted net metering credits to over 20 authorities representing over 5000 affordable housing units across the state,” added Jaime A. Smith, Principal and Managing Member of Lodestar.
This is one of 8 projects currently under construction by Lodestar Energy in Massachusetts projected to bring nearly 19 MW of distributed energy resources to the Commonwealth, equivalent to the energy required to power over 4,000 homes. The projects costs are estimated at over $50M.
Lodestar has partnered with S&C Electric to provide engineering, procurement, and construction services for the complete construction this project. This will be the seventh project Lodestar and S&C have partnered on.
About Lodestar Energy LLC
Lodestar Energy LLC is a Connecticut-based developer of renewable energy projects focused on solar photovoltaics. Lodestar's mission is to develop environmentally responsible, cost-effective solutions that exceed client expectations and lower electricity costs. The company's veteran team has developed, financed, and installed over 500 MW of solar projects with a value in excess of $1.5 billion across the U.S.