Altus Power announced the addition of a new combined 10 MW solar plus 15 MWh battery storage system in Holliston, Massachusetts. The benefits of the electricity generated will be delivered under long-term agreements with a regional supermarket as well as local community solar customers under the Massachusetts DOER SMART Program.
The Holliston project was developed in partnership with REA, one of Altus Power’s long-standing channel partners, and adds to the 116 MW of solar arrays currently owned and operated by Altus Power in Massachusetts.
“Battery storage is an important tool for local utilities to ensure grid stability as they increase their reliance on renewable electricity,” said Gregg Felton, co-CEO and co-founder of Altus Power. “In addition, we expect storage will increasingly be paired with Altus Power solar arrays for customers interested in clean, on-site backup power and electric vehicle charging.”
Altus Power, headquartered in Stamford, Conn., recently announced first quarter 2023 revenues of $29.4 million, a 53% increase as compared to first quarter 2022. In the fourth quarter 2022, the company grew its portfolio in part due to the acquisition of an 88 MW commercial solar portfolio in Arizona, Nevada, Indiana and Pennsylvania, from D.E. Shaw Renewable Investments, and 9 MW of New Jersey assets acquired from a local developer.
New York City ESS
Summit Ridge Energy commissioned the 15 MWh Arlington and 15 MWh Littlefield energy storage systems (ESS), the first two of its four in New York City.
When the final two projects are energized in the coming months, Summit Ridge Energy’s four ESS will provide 58 MWh of energy storage capacity to New York’s electric grid and reduce the need for diesel-powered peaker plants, the company reports. Summit Ridge Energy financed, developed and constructed the projects, in partnership with Qcells, and serves as the long-term owner-operator.
The Arlington and Littlefield projects came online under the New York State Public Service Commission’s (PSC) Value Stack (VDER) program. The Value Stack compensates projects such as solar-plus-storage, based on when and where they provide electricity to the grid and compensation is in the form of bill credits.
“These energy storage projects are providing critical grid resilience for New York City and supporting the state’s transition to renewable energy,” said Brian Dunn, chief operating officer at Summit Ridge Energy.
New York University’s (NYU) Langone Health partnered with Summit Ridge Energy to purchase all of the bill credits from these first two projects. Summit Ridge reported that the hospital is demonstrating the important role large end userscan play in the move toward a low-carbon future. These agreements support the health system’s sustainability goals, which recognize climate change as a threat to public health, and includes a carbon neutrality goal by 2050.
“As we pursue opportunities to reduce greenhouse gas emissions from our facilities, it is equally as important for us to support efforts to harden and decarbonize New York City’s energy grid for the benefit and resiliency of the communities we serve,” said Paul Schwabacher, senior vice president, facilities operations, NYU Langone Health.
In the past five years, Summit Ridge Energy, which specializes in community solar, has deployed over $1.6 billion into clean energy assets. With a development pipeline of more than 2 GW, Summit Ridge Energy will have more than 400 MW of PV online by the end of 2023, providing solar power to 50,000 homes.
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