Local Municipality Signs Up To Community Solar in Strong Signal of Support for OYA Solar
The Town of Independence in Allegany County has signed up to receive 10% in annual electricity savings through community solar in addition to the tax revenue it receives from hosting three community solar projects.
FOR IMMEDIATE RELEASE
New York: 26 May 2021 – OYA Solar, a solar developer and asset owner, announced today that the Town of Independence in Allegany County, New York has signed an agreement to join OYA Solar’s state-wide community solar program with a subscription to OYA’s local solar project on Independence Road. The municipality has approved the construction of this community solar project and two additional sites. The municipality will also benefit financially from tax revenue for the next 25 years.
For many host municipalities in the vicinity of community solar projects, the decision to sign on to a community solar program arrives organically as the town and developer work through the solar permitting process and several levels of approval together. As they ultimately discover, state-regulated community solar programs allow all levels of government to access the benefits of renewable energy without committing the upfront capital or resources to develop and maintain a solar project of their own. All subscribers of OYA Solar’s community solar program receive 10% savings on electricity through monthly bill credits with no additional costs.
“Signing the Town of Independence to our community solar program is the capstone of our efforts to develop and now construct the three solar projects within the municipality’s jurisdiction; We place utmost priority on developing close relationships with our host communities across our New York portfolio to share in the full range of benefits from our solar energy projects,” says Manish Nayar, the CEO and Founder of OYA Solar.
“In addition to receiving electricity cost savings from community solar, the municipality will also receive direct economic benefits with the upcoming construction start dates as well as tax revenue for the next 25 years.”
“The Town of Independence is committed to saving taxpayer money wherever possible. This is our first opportunity to enter into a partnership that will allow for long-term savings while ensuring a reliable source of energy for town operations. Our partnership with OYA will allow us to obtain energy more efficiently and effectively and will benefit the environment with a cleaner source of energy. We are looking forward to working with OYA to provide a savings for our taxpayers,” according to Town Supervisor Jeri Reichman.
OYA Solar is expecting to start construction in Q3 2021 on the three community solar projects, Independence Road, Independence East, and Independence North. The remaining 13 projects in OYA’s 2021 New York community solar portfolio are all expected to be in service before the end of the year. While significant, OYA’s New York community solar portfolio is only a portion of a broader 2 GW pipeline of community solar and utility-scale projects in the U.S. that support local access to the financial and environmental benefits of clean and affordable energy.
About OYA Renewables
OYA Renewables is a North American full-service solar developer and independent power producer. Its projects provide clean energy and widespread economic and environmental benefits for landowners, communities, and energy customers. It is committed to developing and operating solar projects, with a particular focus on community solar, that incentivize the participation of low-to-moderate income households. Founded in 2009, OYA is the first North American solar platform to have been certified as a diverse supplier and minority business enterprise. We have successfully monetized in excess of 1,400 MWDC of distributed and utility-scale solar projects across North America and our current development pipeline exceeds 3 GWDC. For more information, please visit www.oyarenewables.com.
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