DENVER--(BUSINESS WIRE)--TurningPoint Energy, a renewable energy company focused on developing community solar projects, announced today its expansion into the State of Delaware. The company’s Mid-Atlantic team has engaged with landowners interested in leasing or selling their property for solar development, residential customers interested in participating in solar projects and communities seeking to bring clean energy to its residents.
TurningPoint Energy is currently developing 12 projects in Delaware with an aggregate value of more than $100,000,000. As a community solar development company, that means creating construction and ongoing operational jobs along with collaboration and investment into local Delaware businesses on legal, permitting, engineering, construction, and related activities to support these developments.
Additionally, for every community in which the company develops projects, TurningPoint Energy makes a charitable community investment commitment. In Delaware, this aggregate charitable investment is targeted to exceed $150,000 across the state.
In 2021, Delaware passed a law called Senate Bill 2 which removed existing barriers to participation in Delaware’s community solar program, expanded system sizes to allow for up to four (4)-megawatt projects, and implemented a requirement that at least 15% of a projects’ customers be of low income.
“We are committed to our community solar investment in the State of Delaware for the long term,” said Salar Naini, executive vice president of TurningPoint Energy. “It took many months of healthy debate under the leadership of Senator Stephanie Hansen alongside a diverse group of stakeholders to finally hammer out all the details of this key piece of renewable energy legislation. We are now engaged with communities in mid-development on these projects to meet the needs of our neighbors and communities and ensure the projects are customized and developed to provide the best outcomes possible.”
What is Community Solar?
Community solar is unique because it offers a hassle-free way for residential and business customers to adopt solar energy with zero upfront cost and without needing to install a system on their property. For instance, renters or businesses that can’t or don’t want to install solar on their property can still reap the benefits of solar energy when they subscribe to a community solar project and reduce their monthly utility bills.
Who Benefits from Community Solar
The expansion of community solar into the state of Delaware will bring the following benefits to the First State:
- Residents and Local Businesses: Community solar subscribers can immediately save on their electricity costs with no money down while limiting their exposure to fluctuations in high energy costs.
- Landowners: Individual landowners who open their land up for community solar projects will benefit from thousands of dollars in annual lease payments. If you are a landowner in Delaware and want to discuss selling or leasing your property for a community solar project, you are encouraged to contact TurningPoint Energy. (How sites are selected.)
- Local Communities: Communities home to a solar project benefit from local tax revenues. Additionally, TurningPoint Energy strives to invest in each community in which we work. The company actively supports public schools, community initiatives, and non-profit organizations.
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The Environment: Community solar projects benefit the environment by reducing pollutants in the local atmosphere. The total installed capacity offsets the equivalent of the following pollutants for each year of operation:
- The equivalent of over 150,361,100 pounds of atmospheric carbon.
- The equivalent of over 14,600 gasoline-powered passenger vehicles driven for one-year gallons of gasoline.
- The equivalent of over 8,296,000,000 smartphones charged.
About TurningPoint Energy
TurningPoint Energy is a clean energy development, advisory and investment company with solar development projects underway throughout the United States. Its principals have experience developing solar projects for utility and community solar clients totaling more than $3 billion in value over 2 GW of operating solar power plants throughout the United States within the last decade. TurningPoint Energy is a lean, privately held firm that adapts to its clients’ needs and finds ways to invest in its clients and their communities…at every turning point. For more information, please visit www.turningpoint-energy.com.
Carbon equivalencies provided by the EPA Greenhouse Gas Equivalencies Calculator.
