LADERA RANCH, Calif.--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. ("SmartStop” or the “Company"), a self-managed and fully integrated self-storage company, announced today a significant milestone in its sustainability journey with its 50th property, located in Chula Vista, California, now operating under solar power. Since the launch of its Solar Initiative in 2020, SmartStop has been committed to harnessing solar energy to power its operations sustainably. These 50 properties span 12 states, demonstrating SmartStop’s commitment to renewable energy throughout its portfolio.
The implementation of solar energy at these properties will generate approximately 5.7 megawatt-hours (MWh) of clean energy per year, resulting in an estimated $900,000 per year in electricity savings. This substantial output underscores the Company’s dedication to reducing its carbon footprint and operating costs.
In environmental terms, the impact of SmartStop’s solar initiative is meaningful. The energy generated by these solar installations is equivalent to:
- the greenhouse gas emissions from 950 gas-powered vehicles driven for one year,
- the CO2 emissions from the electricity use of 788 homes over the course of a year, and
- the emissions saved by recycling 1,386 tons of waste instead of sending it to landfills.
"We are thrilled to achieve this milestone in our Solar Initiative program, marking a significant step forward in our continued commitment to sustainability," said James Barry, CFO of SmartStop. "This accomplishment underscores our dedication to reducing our environmental impact while realizing tangible financial benefits. We look forward to continuing our efforts to integrate renewable energy solutions across our operations."
About SmartStop Self Storage REIT, Inc. (SmartStop)
SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 500 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of April 2, 2024, SmartStop has an owned or managed portfolio of 195 operating properties in 22 states and Canada, comprising approximately 137,500 units and 15.5 million rentable square feet. SmartStop and its affiliates own or manage 34 operating self-storage properties in Canada, which total approximately 29,700 units and 3.0 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
