Source Power Company, a New York regulated energy supplier and community solar subscriber acquisition company, announced that it has been selected by NJR Clean Energy Ventures, a subsidiary of New Jersey Resources, to provide customer acquisition and management services for the 7.5 MW Maybrook Road community solar project, set to be constructed in the Central Hudson utility service territory.
The project is expected to provide energy for roughly 1,000 homeowners, renters, and businesses in the Central Hudson area.
To date, Source Power has been contracted to own and operate a total of more than 365 MW of installed capacity, and the company has invested nearly $1 billion in residential and commercial solar assets since 2010.
According to the company, Source Power’s provision of services to CEV is a reflection of the tremendous success Source Power has had since entering the market with its hybrid approach to community solar and commodity supply.
Source claims that this unique approach is made possible because of the company’s roots in the solar development industry through its sister company Source Renewables. By sitting at the intersection of project finance, renewable generation, and energy supply, the company claims that it is able to more effectively match solar generation with power consumers and use its vertical integration to ensure efficiencies are passed along to customers at competitive prices.
“Expanding community solar projects throughout New York State is an important step in making clean energy and solar power more accessible to our customers,” said Mark Valori, Vice President of NJR Clean Energy Ventures. “Our second partnership with Source Power reflects our trust in the company’s subscriber acquisition and management services and its ability to deliver low-carbon energy solutions and reliable services to the communities in Central Hudson.”
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