Maine residents will have access to new community solar energy solutions with UGE International’s acquisition of a new renewable energy project. UGE recently announced that it has obtained a new solar program slated to service residents of Central Maine Power. At 5.4-megawatts, the project is among the company’s largest and has been estimated at $9.9 million.
In recent months, Maine has grown as a leader in community solar energy solutions. Changes to local regulations have made it more convenient for companies like UGE to move in and expand the presence of solar and renewable energy options. Along with the 5.4-megawatt facility, UGE was also behind a 156-kilowatt project completed in 2020. The earlier project was believed to be the state’s first community solar installation to become operational during Monson Phase I. The company has since revealed additional projects slated for future quarters.
According to UGE’s CRO, Tyler Adkins, the company is going to continue its growth throughout Maine. It plans to continue bringing more solar projects to the state and keeping up its current momentum throughout the nation’s Northeast.
The new community solar facility is currently under development with UGE and is expected to go online within the next two years. In the meantime, UGE is hard at work supporting the Investment Tax Credit (ITC), which aims to provide a tax benefit to solar developers throughout the United States. Shortly before UGE’s announcement, the ITC was revealed to have been extended throughout 2022, with an increase to a 26% credit.
Nick Blitterswyk, UGE’s CEO, states that the extension has a direct impact on the value of the company’s planned developments. He states it will also expand the market for solar and create a desire to construct more community solar facilities for homeowners and small businesses across the United States.
UGE currently has over 400-megawatts in its expanding global portfolio. The 5.4-megawatt facility may not sound like much when compared to its current log of installations, but that Maine solar facility will deliver clean, renewable power to homeowners, tenants, and businesses that may otherwise not have the ability to build solar panels.