Opening of “Shared Solar” Project Signals Strong Future for NRG and Community Solar Model
July 27 2015 - 10:00AM
Business Wire
Consumer Demand Strong for New Shared Renewable
Energy Source in Massachusetts; Company Developing More Shared
Solar Sites in Massachusetts & Minnesota
NRG Energy, Inc. (NYSE:NRG) today announced it is leveraging its
expertise to bring shared solar – also known as community solar –
to customers across the United States, fulfilling on the company’s
customer-focused commitment.
“Residents in several states across America – including
Colorado, Massachusetts and Minnesota – have spoken: they want
their lives to be powered by affordable, renewable energy any way
they can get it,” said Steve McBee, president and CEO of NRG Home,
a division of NRG. “In Massachusetts, customers enthusiastically
signed up to 100% of the output of our new shared solar facility,
and in response we are accelerating our shared solar development to
meet strong demand in states with supportive policies.”
The announcement comes on the day NRG Home Solar and NRG Renew
bring a new shared solar site online in Freetown, Massachusetts.
The 1-megawatt site, which powers approximately 160 households,
furthers NRG’s mission to put customers first by providing broad
access to clean energy.
NRG Home Solar and NRG Renew have over 100 megawatts of shared
solar projects in various stages of development and are actively
working to expand into additional markets, so customers who may not
have a rooftop suitable for solar still have the option to go
solar.
Subscribers to Freetown’s shared solar project entered into a
20-year agreement with NRG Home Solar that provides price stability
and savings. Customers earn credits toward their energy bill that
are calculated based on how much renewable energy their portion of
the project generated in a billing cycle.
“One of the most exciting things about solar is that as it grows
explosively we create new opportunities for people to make
renewable energy part of their lives,” said Kelcy Pegler, Jr.,
President, NRG Home Solar, a division of NRG Home. “Shared solar
represents that opportunity – a simple, inexpensive path for people
who buy power to go solar without limitations.”
The Freetown project demonstrates the strategic fit of shared
solar to NRG’s integrated business model, leveraging NRG Home
Solar’s ability to acquire and retain customers through its retail
and residential solar businesses and NRG Renew’s ability to source,
construct and operate renewable energy projects, combined with an
investment by NRG Yield. NRG Renew partnered with Borrego Solar
Systems to develop the Freetown site and construct the system.
About NRG Home
NRG Home is a leading consumer energy solutions provider,
offering greater control over the creation and use of energy, both
at home and on the go. NRG Home belongs to the NRG family of
companies that comprises a growing portfolio that serves more than
three million customers with integrated power products including
retail electricity, home solar systems and smart energy solutions
that allow customers to generate, manage and share more of their
own energy in ways that are clean, reliable and affordable. NRG
Home is part of NRG Energy, Inc. (NYSE: NRG), a Fortune 200 company
delivering cleaner and smarter energy choices. For more information
about NRG Home products and services, please visit nrg.com and
nrghomepower.com, and connect on Facebook at facebook.com/nrg and
on Twitter @nrgenergy and @nrgmedia.
About NRG Renew
NRG Renew, a subsidiary of NRG Energy, Inc., owns or has
partial investment in more than 150 renewable energy projects
totaling approximately 4,500 gross MWac of solar and wind capacity
in operation throughout North America. More information is
available at nrg.com/renew.
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version on businesswire.com: http://www.businesswire.com/news/home/20150727005368/en/
NRG HomeMelissa Hensley,
713-537-3099Melissa.Hensley@nrg.com@nrgmedia
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