– Press Information –
FOR IMMEDIATE RELEASE
February 23, 2015
Michael Stone – Suntility Electric, LLC; (508)538-4-Sun; michael[at]suntilityelectric.com; www.SippicanCommunitySolarGarden.com
Daniel Balkin – The Cape Cod Five Cents Savings Bank; (508) 247-5684; dbalkin[at]capecodfive.com; www.capecodfive.com
Suntility Electric Announces Cape Cod Five
to Serve as Local Solar Cooperative Anchor
As NSTAR/Eversource announced its electricity rates have increased a whopping 29%, a new solar project aimed at guarding against those increases is being anchored by The Cape Cod Five Cents Savings Bank. As anchor, the Cape Cod Five is supporting the establishment of a separate non-profit energy Cooperative. This Cooperative in turn, offers local residents and businesses savings on their monthly electric bills for the next ten years. The residents and businesses of Southeastern Massachusetts can share the benefits by joining the Sippican Community Solar Garden Cooperative.
As the project Anchor, Cape Cod Five will significantly enhance the bank’s initiative to move to renewable forms of energy to power its operations. Nearly twenty percent of the Bank’s total electrical usage will be supplied by solar electricity from the Sippican Community Solar Garden project.
Cape Cod Five’s participation in the anchor role allows more than half the total energy generated at Sippican Community Solar Garden site to go to the Cooperative members. This important factor was expressed by Dorothy A. Savarese, President and CEO, The Cape Cod Five Cents Savings Bank, “We are pleased to be the anchor for the Sippican Community Solar Garden project. It furthers our community commitment to be a responsible business, that is environmentally sensitive, and it also enables other area residents and businesses to benefit from this clean energy, produced locally and economically.”
Joining the Cooperative means purchasing one or more SunRights™ which entitles the member to receive credits on their electric bills for at least ten years. What is powering these electric bill credits? The savings are straight from the sun in the form of solar electricity at the project site. Credits earned at the site are then transferred to the accounts of the participants as dollar credits on their monthly NSTAR bills. There is a bonus as well. The more electricity rates go up,the more a member will save. The total number of SunRights available is limited though, so the Cooperative is already seeing high demand.
Like its predecessor, the Brewster Community Solar Garden, the project is based locally. This ensures the most economic benefit for the communities it serves. That keeps our energy dollars close to home.
About The Cape Cod Five Cents Savings Bank
Founded in 1855, The Cape Cod Five Cents Savings Bank is an independent state-chartered savings bank with over $2.6 billion in assets. Through its 22 offices, The Cape Cod Five offers a broad range of financial products and services to customers living on Cape Cod, the Islands and the neighboring areas. Services include consumer and commercial banking products; residential mortgages; investment management and trust services. Member FDIC.
About My Generation Energy, Inc.
My Generation Energy is a Southeastern Massachusetts based installer and developer of solar facilities. In the past five years, My Generation Energy has installed over 4 MW of solar power (17,000 panels) including hundreds of residential and small commercial systems in over 20 towns. A significant portion of this portfolio was developed under the Community Solar Garden and Unutility Electric® models for local-investor-owned projects. My Generation Energy has established a track record for on-time management with flawless inspections.
About Suntility Electric, LLC
Suntility’s experience on renewable energy projects spans nearly 200 systems across Massachusetts providing a range of management services for solar and wind facilities to maximize production and expand the community benefits of these clean energy sources. Suntility’s renewable energy management clients include community shared solar organizations, non-profits, local business owners, finance organizations, commercial real estate investors, industrial property owners, municipalities, homeowners and more.
Additional Sippican Community Solar Garden Quotes
“Cape Cod Five is excited to be part of this community project, and for the chance it provides us to further our commitment to our Green Initiative, whereby we are always seeking ways to lesson our impact on the environment. The Bank and its namesake foundation have long supported environmental causes, and the Community Solar Garden concept presents us with a solid opportunity to make a smart business decision which also serves to supports this agenda. It is our hope that by participating in this way, we will also help make the benefits of renewable power available to those who, for whatever reason, may not be able to participate where they currently reside or work.”
-Christopher Raber, Senior Vice President, The Cape Cod Five Cents Savings Bank
“Community solar will drive significant electricity savings for its members for years to come. Along with our anchor Cape Cod Five, Suntility Electric is pleased to make this clean energy opportunity available to the residents and organizations of Southeastern Massachusetts. This is an important step toward energy independence for our region.”
– Michael Stone, Manager, Suntility Electric, LLC
“This Community Solar Garden project follows on the success of the Brewster Community Solar Garden, now in its third year. Those who missed out on that opportunity have another chance to join the cooperative movement in energy savings.”
– Luke Hinkle, Manager, Sippican Community Solar Garden, LLC
“We are excited to provide another high-performance installation for a Community Solar project in our region. While we are focused on installing solar on homes and businesses throughout Southeastern Massachusetts, it’s a privilege to join this effort in providing another alternative to high electricity prices.”
– Andrew Wade, President, My Generation Energy, Inc.
Sippican Community Solar Garden Cooperative Facts
SunRights Available: 160
SunRight Price: $5,000
SunRight Net Metering Value Guarantee: $7,200
SunRight & Membership Term: 10-years
SunRight Average Monthly Value : $60
Who Can Join: NSTAR Electric Account Holders in Southeastern Massachusetts
Project Location: Marion, MA
Project Commissioning: 2015
Project Size: 914 kW (3,264 Solar Panels)
Anticipated Annual Electricity Production: 1,250,000 kWh
System Design & Installation: My Generation Energy, Inc.
On-going Maintenance & Monitoring Providers: My Generation Energy & Suntility Electric
Sippican Community Solar Garden Management: Suntility Electric, LLC
Those interested in participating in the Sippican Community Solar Garden Cooperative should call 508-538-4-SUN. Updates can also be followed on www.SippicanCommunitySolarGarden.com.