April 6, 2022
Nautilus Solar Energy Announces Completion Of A 24.9 Mw Community Solar Portfolio In New York
New York State becomes Nautilus's largest community solar market with over 87MW in operation
SUMMIT, NJ (April 6, 2022) -- Nautilus Solar Energy, LLC ("Nautilus"), a leader in the development of community solar projects, announces the completion of a 24.9 MW community solar portfolio in New York. The fully operational portfolio is comprised of four projects located in Allegany, Cattaraugus, Genesee, and Steuben Counties, and provides a clean energy alternative to an estimated 1950 households and multiple commercial subscribers, including the Target Corporation (NYSE:TGT), Lowe's Companies, Inc. (NYSE: LOW), and Hannaford Brothers, in the NYSEG and National Grid utility territories.
The Empire State has become Nautilus's largest community solar market, representing 45 percent of the company’s total megawatts produced, and nearly 30 percent of its total community solar installations. This announcement comes on the heels of news that New York State has achieved more than one gigawatt of community solar installed and operational, making it the top community solar market in the United States.
The community solar projects directly support New York’s Climate Leadership and Community Protection Act (Climate Act) which mandates the state to obtain 70 percent of its electricity from renewable sources by 2030, while ensuring that at least 35 percent with a goal of 40 percent of the benefits of clean energy investment are directed to disadvantaged communities (DAC) and low-to-moderate income (LMI) subscribers.
"Nautilus is proud to play a role in the growth of community solar in New York. It's a wonderful example of how investing in local community solar can ensure the cost-savings benefits are available to all New Yorkers, including improved access for low-to-moderate income customers and disadvantaged communities," said Daniela Pangallo, Business Development Director of Nautilus. "Community solar provides the opportunity for residents to choose solar and actively participate in the transition to clean energy which reduces greenhouse gas emissions and builds climate resilience," added Eric LaMora, Director of Community Solar at Nautilus.
As one of the fastest growing sectors of the New York clean energy industry, community solar provides all residents, particularly those previously unable to afford or access solar energy, with the opportunity to choose locally produced, affordable clean energy without any rooftop panels to install or upfront investment. Any residential NYSEG or National Grid utility customer is eligible to subscribe to a portion of the energy produced by the local Nautilus community solar project and receive savings on their utility bill with no upfront cost, no long-term commitment, and no cancellation fees. Subscriptions to these projects are limited. Anyone interested in subscribing can now sign up at https://nautilussolar.com/find-your-community.
The 6.9MW community solar farm located in Cattaraugus county New York is one of four fully operational projects in Nautilus Solar Energy's newly completed 24.9MW portfolio.
About Nautilus Solar Energy
Nautilus Solar Energy, LLC is a leading owner-operator of solar projects serving the community solar market and corporate customers throughout the United States. A pioneer in solar energy since 2006, Nautilus is committed to creating a clean, sustainable future by offering an equitable and affordable renewable energy choice. Through its Community Solar initiative, Nautilus is making solar energy available to a broader marketplace, including low-to-moderate income (LMI) households and unrated businesses that wish to reduce their carbon footprint and utility bills.
Nautilus is wholly owned by Power Sustainable, a global multi-platform alternative asset manager with a long-term investment approach focused on sustainable strategies. Nautilus owns solar projects throughout their entire lifecycle enabling Nautilus, along with entrusted local partners, to fulfill its promise of creating a better world by powering communities with clean energy for the long term.