Benchmark Resiliency Spotlights – Sol Systems
Investing in Our Communities to Drive Economic Recovery – Sol Systems
Now more than ever before, Sol Systems recognizes that climate and environmental issues do not impact every community in the same way. Over the past few months, Sol Systems has been working to address environmental equity as a broader issue, whether its combining clean energy with community development and investment or by making the benefits of solar more accessible to residents in local communities.
In July, Sol Systems – a national solar energy finance and development firm – announced a groundbreaking initiative with Microsoft Corp. that creates the first community investment fund and the company’s single largest renewable energy portfolio energy purchase agreement. Sol Systems and Microsoft designed the portfolio, which will be delivered in phases over the next several years, in order to maximize its environmental, community, and societal impact.
This first-of-its-kind initiative will be tying the purchasing of renewable energy to environmental justice and equity in under-resourced communities. Sol Systems will finance, develop, and operate a portfolio of over 500 megawatts (MW) of solar projects in the U.S. and will sell energy from those projects to Microsoft. This initiative also will help Microsoft meet its goal of shifting to 100 percent renewable energy by 2025.
In parallel, working with local leaders in nearby communities and those disproportionately impacted by climate change, Sol Systems and Microsoft will invest at least $50 million for community-led grants and investments that support educational programs, job and career training, habitat restoration, and programs that support access to clean energy and energy efficiency.
Back in April, in the company’s hometown of Washington D.C., Sol Systems also has demonstrated its commitment to bring the benefits of solar energy to local communities by becoming involved in the Solar for All program, which is one of the largest income-qualified solar energy efforts in the United States.
Partnering with the DC Sustainable Energy Utility (DCSEU) to help alleviate the costs of solar energy for homeowners, Sol Systems was awarded a five-year strip of Solar Renewable Energy Credits (SRECs) generated by an anticipated 80 rooftop solar energy systems installed on single-family households throughout the District. Through the Solar for All program, all 80 homes will receive their solar systems at no cost.
About Sol Systems
Sol Systems is a leading national solar energy firm with an established reputation for integrity and reliability across its development, infrastructure, and environmental commodity businesses. Sol is operating and building over 1GW of solar projects valued at more than $1 billion for Fortune 100 companies, municipalities, counties, utilities, universities and schools. The company was founded in 2008, is based in Washington, D.C., and is led by its founder. Sol Systems works with institutional clients, corporate partners, and foundations to create a more sustainable future we can all believe in. Inc. 5000 recognized Sol Systems in its annual list of the nation’s fastest-growing private companies for five years. For more information, visit https://www.solsystems.com/.