HOPKINTON, Mass., Jan. 31, 2019 /PRNewswire-PRWeb/ -- Solect Energy, the leading full-service commercial-scale solar developer and installer in Massachusetts and Power Options, the largest energy-buying group in New England, announced the renewal of their multi-year partnership. Solect will continue to lead PowerOption's Small Systems Solar program, providing savings and certainty for local communities, state owned buildings, and not for profits. The completed projects to date are estimated to save $20 million for PowerOptions members.
The Small Systems Solar program provides competitively priced and pre-negotiated contract terms for solar systems less than 300 kilowatts (kW), and reflects the benefits of leveraging the potential for multiple projects across the consortium made up of more than 400 nonprofit and public entities. The program will provide savings for members and a hedge against future cost increases over the life of the 20-year solar power purchase agreements (PPA).
"Solect has a proven track record, and our members continue to provide positive feedback," said Cynthia A. Arcate, President and CEO of PowerOptions. "Being a local company who has worked with hundreds of commercial and institutional customers, Solect understands our members' needs and are adept at maximizing the potential for each project."
The partnership is well timed to help public and non-profit organizations across Massachusetts as the Commonwealth rolls out its new solar energy incentive program (named SMART) with specific "adders" that significantly lower electric costs for the end customer, and it includes additional incentives for public entities. In addition, these organizations can take advantage of state grant opportunities like the Massachusetts Department of Energy Resources Leading by Example (LBE) grant program which delivers further incentive and direct savings for state entities that commit to clean energy initiatives. Solect is also a certified prime contractor for energy management for the Massachusetts Division of Capital Asset Management and Maintenance (DCAMM).
"We are thrilled to have been selected by PowerOptions to serve this key segment of the nonprofit and government community that they represent," said Ken Driscoll, founding principal and CEO at Solect Energy. "Our partnership with PowerOptions has proven that Soelct can truly make a difference for public and non-profit organizations to further their missions by reducing their energy costs and making solar procurement, installation, financing and management as streamlined and as simple as possible. The timing couldn't be better for these organizations to take advantage of solar energy."
In a first of its kind project, Salem State University recently leveraged their PowerOptions membership by contracting with Solect for three solar energy systems (totaling 387 kW). As recently announced by the state, Solect also helped the University apply for the Leading By Example grant program. Salem State received the first grant from the 2018 LBE Solar Program which reduces the price of their PPA by $.03/kWh. In total, the solar energy systems will save as much as $1 million over the 20-year life of the projects. As a DCAMM Certified contractor, Solect manages all aspects of the projects from design engineering through installation and commissioning.
"We are proud to partner with Solect and PowerOptions in bringing more solar power to the university," said Tara Gallagher, Sustainability Coordinator at Salem State University. "We are grateful that, as a Massachusetts state agency, we were able to take advantage of a seamless and streamlined process through collaborating with Solect and PowerOptions."
About PowerOptions
PowerOptions® is the largest energy buying consortium in Massachusetts, serving more than 400 nonprofit organizations and governmental entities with combined annual energy sales of roughly $200 million. With supply programs for electricity, natural gas, and solar power, PowerOptions provides its members budget certainty and savings, as well as best-in-industry consumer protections. Joining is easy—any nonprofit or public institution in Massachusetts, Connecticut or Rhode Island may become a member and participate in this collective purchasing effort. For more information, visit http://www.poweroptions.org.
About Solect Energy
Solect Energy, based in Hopkinton, Massachusetts, is the recognized leader in commercial-scale solar. We develop smart, customized strategies based on a deep assessment of each customer's energy needs and requirements, then deliver solar design and installation solutions, operations and maintenance services, and the most advanced energy storage systems. Solect offers proven expertise in development, technology, policy, incentives and project financing. Our practical, systematic approach helps businesses and organizations reduce energy costs and optimize their solar investment. To date, Solect has installed over 90 MW (megawatts) of commercial PV systems, with a focus on commercial, light industrial, and institutional properties throughout New England and Illinois. For more information, visit http://www.solect.com or follow us on Twitter at @SolectSolar.
SOURCE Solect Energy
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