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In a move aimed at accelerating New York community solar adoption, Solar Simplified is acquiring state-eligible low and moderate income (LMI) subscribers at no additional cost to its partners, who are primarily independent power producers (IPPs) and community solar asset owners.
The initiative is aimed at bolstering the new Community Adder and Inclusive Community Solar Adder programs. Under the structure, the company will cover acquisition costs for LMI subscribers required to meet the 40% quota for the Community Adder.
“We understand the challenges faced by IPPs and asset owners in acquiring and managing LMI subscribers for community solar projects,” says Aviv Shalgi, CEO of Solar Simplified.
“Our decision to absorb these costs is a reflection of our dedication to advancing clean energy projects in New York and a testament to our success acquiring and managing this crucial segment of the market across multiple states, including New York. We believe this will significantly ease the financial burden on our partners and their financial backers, both lenders and tax equity, and make their projects more viable. It will surely help projects that are borderline financially viable to now pencil out and get built, driving faster expansion of community solar in the state while bringing tangible savings to communities that need them.” |
