In a move aimed at accelerating solar energy adoption in the New York community, Solar energy simplified acquires state-eligible low- and moderate-income (LMI) subscribers at no additional cost to its partners, who are primarily independent power producers (IPPs) and community solar owners.
The initiative aims to strengthen the new Community Adder and Inclusive Community Solar Adder programs. Under the structure, the company will cover the acquisition costs for LMI subscribers required to meet the 40% quota for the Community Adder.
“We understand the challenges IPPs and asset owners face in acquiring and managing LMI subscribers for community solar projects,” said Aviv Shalgi, CEO of Solar Simplified.
“Our decision to absorb these costs is a reflection of our commitment to advancing clean energy projects in New York and a testament to our success in acquiring and managing this critical market segment in multiple states, including New York. We believe this will significantly reduce the financial burden on our partners and their financiers, both lenders and tax equity holders, and make their projects more viable. It will certainly help projects that are financially on the edge of feasibility to be drawn up and built now, encouraging faster expansion of community solar in the state while delivering tangible savings to communities that need them to have.
