Community solar solutions developer Clean Energy Collective (CEC) and Morgan Stanley subsidiary, MS Solar Solutions (MSSS), have agreed a deal to build up the expansion of community-shared solar across Massachusetts.
The jointly owned entity created through this deal will help install multiple PV projects in Massachusetts over the next 18 months, totalling out to over 50MW worth of community-shared solar capacity.
Mark Boyer, chief capital officer of Clean Energy Collective, said: “Morgan Stanley's solar team is an ideal partner for CEC as we continue to deploy large volumes of projects in our target markets. The resulting programme enables Massachusetts residents to save money immediately by participating in our solar projects. It also enables CEC to quickly and efficiently build enough capacity to keep pace with the rapidly growing demand for community solar.”
Community PV utilises medium-scale PV systems that generate energy to a utility’s grid, which is then accessible to all utility customers, including residential, commercial and government entities. It allows customers with properties unsuited to solar arrays to access the benefits of solar energy.
Jessica Huetter, vice president of Morgan Stanley, added: “MSSS is excited to partner with CEC as the market leader in community solar and looks forward to providing affordable renewable energy to commercial and residential solar customers in Massachusetts.”
As a result of its 'SolarPerks' programme, CEC is helping to spur community solar across Massachusetts by offering PV solutions with no money down while guaranteeing residential participants an instant 5% savings over existing utility rates.