WILLIAMSVILLE, NY – Electric customers in New York can expect their electric bills to be lower, thanks to savings in the form of bill credits from new community solar projects.
EnergyMark, an independent energy supplier based in Williamsville, announced a new $70 million development that is expected to produce $2.5 million annually in bill credits for their NYS electric customers for the next 10 years.
This initiative builds on EnergyMark’s existing deal inked last June to distribute another $175 million in solar credits over 25 years with the nation’s largest renewable energy developer.
This agreement provides for the distribution of 14 megawatts of solar generated power from seven new solar projects located in the National Grid service area – enough energy to power the equivalent of 3,500 homes annually.
The seven solar projects will operate under the community solar model. Community solar is a state-sponsored NYSERDA program which requires solar projects to share a percentage of their revenue with customers in the form of credits.
EnergyMark will serve as a solar credit subscription manager, distributing savings via credits applied directly on their customers’ monthly utility bill. Residential, commercial, and industrial electric users are qualified to receive the credits.
These projects will support New York State’s goal to achieve 70% renewable power generation by 2030.
This long-term investment in the state’s nation-leading renewable energy infrastructure impacts all NYS residents. According to NYSERDA, “achieving the state’s expanded solar goal is expected to generate enough clean electricity per year to power nearly 700,000 additional New York homes, including those in disadvantaged communities.”
Luke Marchiori, Executive Vice President at EnergyMark shared, “This groundbreaking agreement allows us to play a key role in developing the future of the State’s electricity grid while offering our customers relief during a time of rising energy costs.”