Berkshire Bank, the largest community bank in Massachusetts, has opted to back a Nexamp community solar project. The bank subscribed to the Hadley, MA farm, which is a 4.6-megawatt portion of a larger portfolio owned by the same individual.
When discussing the bank’s decision to subscribe to the Nexamp community solar project, Senior Vice President of Corporate Responsibility, Gary Levante, states that the bank recognizes the importance of renewable energy and environmental sustainability. He continues by saying the bank is pursuing means of reducing its carbon emissions. The choice to join Nexamp was simple as the bank recognizes the company’s simplicity and proven track record.
While community solar typically offers benefits to local homeowners and tenants, small businesses and local companies can take advantage of the output. Subscribers to community solar enjoy monthly credits toward their utility bill and access to solar energy without having to pay for rooftop installations.
Nexamp’s director of business development, Joe Fiori, states that it’s not uncommon for corporations to emphasize sustainability. Like Berkshire Bank, they’re trying to prioritize sustainability while reducing their carbon footprint. Fiori continues, stating that that renewable energy is just one step businesses need to make, as they also need to focus on efficiency. He also confirms that organizations and corporations can benefit from community solar.
Like homeowners, businesses are looking to take advantage of community solar for the cost savings and ease of use. Though carport and parking lot solar arrays would provide a direct feed of clean energy, construction can be costly and the panels unsightly. Community solar draws from an established farm, located off-site, often in rural countrysides and on farmland.
According to Nexamp’s website, subscribers to community solar are able to save approximately $10 each month on electricity. The company also offers customers a means of ending their subscription with no annual contract or cancellation fee.
Along with community solar, Nexamp specializes in energy storage, Power Purchase Agreements, and project acquisition.