US-based independent power producer Altus Power has reached financial close on 220MW of solar PV assets representing an investment of approximately US$293 million.
US community solar deployment is expected to more than double over the next five years despite 2022 seeing a 16% decline year-on-year, as the sector is set to see benefits from the Inflation Reduction Act (IRA) taking hold.
A round-up of the latest news from the power purchase agreement market, including a virtual PPA between EDF and Thermo Fisher Scientific in Texas, Engie signing a 116MW PPA with Digital Realty in Germany and PG&E securing 30MW of community solar PPAs.
On 15 December, the California Public Utilities Commission will vote on the latest net energy meeting (NEM) proposal regarding the state’s rooftop solar market. Ahead of the vote, activists have taken to the streets in a series of demonstrations against the legislation, and the California Solar and Storage Association (CALSSA) and other representative groups have been vocal in their criticism of the proposal.
Renewables asset owner Brookfield Renewable is planning to take advantage of policy headwinds stemming from the US’s Inflation Reduction Act as it bolsters its presence in the commercial and community PV segment with the acquisition of Standard Solar.
US renewables developer Pivot Energy has secured a US$100 million revolving development loan facility to fund its solar and storage pipeline across the US.
Community solar in the US is projected to grow substantially over the next decade and represents a means of expanding access to underserved communities who are being left out of the energy transition. Sean Rai-Roche explores the drivers of community solar and what obstacles need to be overcome to support its rollout.
California Governor Gavin Newsom has signed a proposed community solar programme into law that will help low income communities benefit more from solar PV.
California’s Senate has passed a bill to create a community solar programme in the state as it looks to take advantage of new incentives contained within the Inflation Reduction Act to expand access to renters and low-income households.
