Environmental Benefits
Norwich Solar is on a mission to help New England states that have adopted strong Renewable Energy Standards (RES) meet their goals to address climate change by building new, in-state solar renewable energy projects. Our solar photovoltaic (PV) systems directly reduce demand for fossil fuels and therefore reduce the associated pollutants from natural gas energy production plants located on the regional grid.
Increasing Local Energy and Grid Resilience
Many of the projects we build are directly connected to the local power grid, and require upgrades to nearby power lines. Each incremental improvement that we include as part of our solar project improves the stability of the electric grid for the community with no cost to ratepayers.
Tax Benefits, Renewable Energy Credits, and Other Incentives
With the passing of the IRA (Inflation Reduction Act 2022), 30% tax credits have been locked in until 2032. Solar projects are a valuable and reliable tax equity investment, and the additional credits including domestic sourcing and incentives to serve LMI (low and moderate income) communities increase that incentive. Our team can help maximize value for our clients by providing guidance on all available federal and state incentives.
New renewable energy projects also bring additional annual tax revenue to the communities that host the solar arrays. Additionally, Renewable Energy Credits (RECs) generated by the solar projects support the state’s goals of meeting new clean energy requirements.
Energy Savings for Our Customers
Most of the solar farms Norwich Solar builds also offer benefits for “offtakers”. These are customers that participate in PPAs (power purchase agreements) or virtual net metering agreements. These types of arrangements are low- or no-cost options that deliver reduced rates of energy to small businesses, municipalities, farms, and nonprofits.
Small Business Community Solar
Members of our Small Business Community Solar Alliance contribute to a more vital local energy economy close to home, and they enjoy annual savings between 5%-10% thanks to the Solar Credits their panels generate.
Utilizing Land
Landowners we work with see benefits from long term leases of their property by turning underused acres into additional revenue for them.
Solar gardens are an ideal solution for repurposing brownfields into energy generating centers. These sites are often not suitable for redevelopment or other building projects but are perfect for hosting a solar site.
