Success of Onyx's NYC ConEdison Community Solar Program Signals Overwhelming Interest
Onyx Renewables’ first round of sign-ups to its ConEdison community solar program was so successful that it filled up in less than a week.
Community solar is a billing program under which residents can subscribe to a remote solar farm and receive the economic and environmental benefits of the solar energy, without the actual infrastructure required for an on-site solar system. Property owners with available rooftop space stand to reap huge benefits from allowing systems to be installed, as they too can receive a portion of the electricity, offsetting their energy bills, while also making money on the lease itself. Plus, they are supplying the obvious demand among Con Edison customers.
As interest in solar energy through community solar continues to grow, Onyx Renewables hopes to play a leading role in its adoption. This year, Onyx opened subscriptions to a portfolio of urban community solar projects for both residential and commercial customers. Within four days’ time, the 1.7 megawatt (MW) portfolio – spread across 6 warehouses in the Bronx and Queens boroughs – had reached full subscription capacity. Consisting mostly of residential accounts, the direct-to-grid community solar project provides a little over 1 MW (60% of the project capacity) of its clean, renewable energy to New York residents and their households.
The overwhelming interest in subscribing to these solar systems shows not only that Con Edison residents would like to benefit from electricity savings, but also that they are interested in supporting local solar development. In a place like New York City, where going green with solar can be challenging for residents, community solar offers an opportunity to participate in the clean energy economy. Of course, there are challenges associated with developing solar projects in a metropolitan area: limited available space for solar projects create a tight market, and a high density of residential utility accounts results in competitive subscription. But these challenges can be seen as huge opportunities if viewed from the right perspective.
As interest in solar energy grows, residents, businesses, and building owners alike stand to benefit from community solar. Community solar creates an opportunity for those who otherwise would not be able to participate in the clean energy economy to do so and provides profit-generating opportunities for landowners interested in hosting solar projects.
Onyx is excited for its next phase of community solar projects, slated for operation in 2024, also in New York.
If you are open to the idea of hosting a community solar project on your rooftop, and sharing clean, renewable energy with your neighbors, contact Onyx Renewables today.
About Onyx Renewable Partners L.P.
Onyx is helping companies create the bridge from today’s clean energy reality to tomorrow’s possibilities. Onyx’s approach to providing clean energy solutions ensures expert guidance at every step for our commercial and industrial customers. From solar energy and storage to electric vehicle charging and beyond, Onyx partners with our clients from the beginning; our team focuses on creating a long-term relationship for the life of the asset. We design, develop, finance, construct, operate and maintain our projects and portfolios. Onyx leverages its wide-ranging industry expertise to transform energy and regulatory complexities into simple clean energy solutions to reduce carbon emissions. For more information, visit www.onyxrenewables.com or connect with us on LinkedIn.