More commercial organizations today are leveraging renewable energy as a central element to their corporate energy strategy and their environmental, social and governance (ESG) initiatives. If you’re considering solar energy for your organization, but onsite solar installation is not feasible for your property, or properties, there are numerous benefits to be gained from community solar.
Community solar arrays are structures of solar panels built by either a utility, a municipality or another third-party owner. They may be located on public or privately-owned property. Both commercial and residential customers can subscribe to them–meaning they pledge to purchase a portion of their electricity from the community solar array for a contract-specified duration. These programs typically offer fixed, long-term (10-20 years) electricity prices or utility bill credits. Regional programs may include additional state and federal financial incentives such as Federal Investment Tax Credits (ITCs).
While community solar structures utilize clean, renewable energy technically, subscribers are not using clean energy. Rather, the owner of the commercial solar array is claiming the environmental attributes to meet its sustainability objectives. As a subscriber, however, your organization is supporting a clean energy program which makes it possible for more people to participate in solar, plus it helps the environment, the economy, and the job market in your community. If part of your goal is to be able to make the environmental claim, you may want to consider Renewable Energy Credits (RECs).
Reduce energy costs
Community solar programs help organizations lower electricity costs, provide long-term budget stability, and reduce reliance on the grid.
Solar savings for multiple facilities
Unlike onsite solar installation, which only allows a single location to benefit from solar energy, community solar can provide cost saving benefits to multiple locations.
State and federal financial incentives
State and federal community solar programs offer financial incentives such as ITCs. Each regional program is unique. Subscriber pricing and savings will be outlined in your subscriber contract.
Demonstrate ESG oversite
Supporting clean energy programs in your community demonstrates your company’s commitment to environmental, social, and governance (ESG) which can impact the perceptions of a broad group of stakeholders including investors, employees, customers, and suppliers.
We have the resources, skills and expertise to help customers achieve business and sustainability goals.
We will work with you to understand your goals and objectives and determine if a community solar program is the right solution for your commercial organization. NextEra Energy Services will provide:
Feasibility assessment: We assess the feasibility of various solar options and other renewable energy options to determine whether becoming a subscriber of community solar makes sense as a part of your energy strategy.
Solar impact analysis: We will provide an Impact Analysis Report comparing past usage to future state with your new solar energy system.
Cash flow analysis: We will provide a Cash Flow Analysis Report showing the impact of solar energy on your organization’s bottom line.
Sourcing and quotes: Community solar programs can be nuanced and complex – especially regarding state and federal financial incentives. We will research your region for community solar projects, analyze the financial incentives, obtain quotes and negotiate the most beneficial contract.
Whether you select an onsite, offsite or community solar program, or you choose to leverage our Retail + Renewables Program, NextEra Energy Services can help you find the solution that achieves your financial, operational and sustainability goals. Your organization’s commitment to renewable energy can play a significant role in meeting certain ESG criteria. A company’s ESG ranking can represent its risks and opportunities profile, influence its access to capital, and demonstrate its ability to create long-term value.
As part of the NextEra Energy family of companies, the largest producer of solar and wind energy in the world, NextEra Energy Services is uniquely positioned to bring you expertise in solar economics, regulations, operations and technology.
Our R+R Program enables your organization to leverage the benefits of renewable assets (solar, wind and battery) and easily incorporate them into your retail energy contract.
ESCO (Energy Service Company) projects within NextEra Energy Services companies service territories are conducted by NextEra Energy Solutions. NextEra Energy Solutions LLC is a subsidiary of NextEra Energy Services Holdings LLC and NextEra Energy.