Only days after revealing its new Community Solar Project model, Green Stream Holdings announced it has secured a new community solar project agreement. The solar energy innovator has entered into an agreement with CubeSmart Self Storage in Hackensack, NJ that is expected to generate at least $3.9 million in revenue over 25 years.
According to the community solar project agreement, Green Stream will be able to install a series of solar panels on the roof of the CubeSmart building. President of Green Stream, Madeline Cammarata, states that the installation should run smoothly and praised the concept of utilizing the private structure to improve the community solar and clean energy infrastructure.
The final agreement between Green Stream and CubeSmart calls for a 1,099 Q-Cell installation comprised of 415 photovoltaic solar panels. Eleven SolarEdge 33.3 480v inverters will power these panels. Everything will come together on the roof of the CubeSmart facility to complete a 456 KW Solar Photovoltaic system. The project is still in the design and permitting stages, but those are expected to be approved next month.
The installation’s design is being drawn up by Morali Architects, a partner of Green Stream. If the project remains on schedule, Green Stream expects to complete the installation of the solar panels by November 2020. Construction will be overseen by Green Hybrid Energy Solutions, Inc., and Green Stream will be able to subsidize much of the cost via local, state, and federal energy subsidies.
Upon completion, Green Stream will pay CubeSmart a monthly fee to lease out the company’s rooftops. This will create a revenue stream for CubeSmart, while Green Stream will be able to benefit from the community solar subscriptions generated from the installation.
Based out of Wyoming, Green Stream Holdings oversees energy projects in New Jersey, New York, New Mexico, Colorado, Massachusetts, Hawaii, California, Nevada, Arizona, and parts of Canada.