Altus Power Launches 19.1-MW Solar Initiative in Maine

• Altus Power lights up Maine with 19.1 MW of community solar, bringing affordable clean energy to over 4,200 homes while driving growth in the renewable sector.

Altus Power Inc. has successfully commissioned three community solar photovoltaic parks in Maine, totaling a capacity of 19.1 MW. This expansion aims to enhance access to clean energy at discounted rates for households across the state. According to Matt Marlow, the co-Head of Investment and Structured Finance, Maine has become a significant market for community solar projects, and these new plants are expected to supply electricity to over 4,200 homes each year.

The Connecticut-based clean electricity provider, listed on NYSE as AMPS, is pursuing strategic options to enhance shareholder value while managing a nationwide portfolio that exceeds 1 GW. With over 500 projects in 25 states, Altus serves more than 25,000 community solar subscribers, positioning itself as a key player in the renewable energy sector.

How is Altus Power expanding access to community solar in Maine?

• Community Solar Initiative: Altus Power is actively addressing the need for accessible renewable energy by launching community solar parks, which allow multiple households to benefit from a single solar installation. This model is particularly advantageous for those who may not have suitable rooftops for solar panels.
• Focus on Affordability: By providing clean energy at discounted rates, Altus aims to make renewable energy financially accessible for low-to-moderate income households. This strategic emphasis on affordability aligns with broader goals of energy equity and sustainability.
• Maine's Regulatory Framework: The expansion in Maine benefits from supportive state policies and regulations that encourage community solar development. These initiatives create a favorable environment for solar companies to invest in local projects, facilitating growth in the renewable sector.
• Job Creation: The establishment of new solar parks contributes to local job creation, both during the construction phase and through ongoing maintenance operations. This can lead to economic benefits for communities, further enhancing Altus Power's positive impact.
• Sustainability Goals: By commissioning solar parks in Maine, Altus Power is helping the state advance its sustainability goals and transition to cleaner energy sources, ultimately reducing greenhouse gas emissions and promoting environmental stewardship.
• Community Engagement: Altus Power engages local communities to raise awareness about the benefits of community solar. They aim to educate residents about how participating in solar projects can lead to long-term savings on energy bills.
• Expansion Plans: The success of their initial projects suggests that Altus Power may consider further investments in Maine and other regions, allowing more communities to access renewable energy solutions.
• Partnerships with Local Organizations: Altus Power is likely to forge partnerships with local organizations and non-profits to help enhance outreach efforts, ensuring that more residents are informed about the opportunities offered by community solar.
• Integration with Local Grid: The solar parks are designed to integrate seamlessly with Maine's existing energy infrastructure, enhancing grid reliability and resilience while providing clean energy to local consumers.
• Demand Response Programs: The company may explore demand response initiatives, allowing subscribers to adjust their energy usage during peak times, thereby contributing to grid stability and further reinforcing the effectiveness of community solar projects.
• Customer-Centric Solutions: Altus Power positions itself as a customer-centric clean energy provider, emphasizing that its model not only meets energy demand but also enhances the overall customer experience with user-friendly subscription options and services.