EnergyMark, a energy supplier headquartered in Williamsville, has announced a groundbreaking $70 million initiative that is poised to usher in substantial benefits for their New York State (NYS) electric customers. With an estimated annual yield of $2.5 million in bill credits for the next decade, this transformative project aligns seamlessly with EnergyMark’s commitment to driving sustainable energy solutions.
A Continuation of Progress
This latest initiative represents a logical progression from EnergyMark’s earlier partnership, solidified in June, to channel $175 million in solar credits over a 25-year span, in collaboration with the nation’s premier renewable energy developer.
Generating Bill Credits through Solar
Under the newly unveiled agreement, EnergyMark will oversee the distribution of 14 megawatts of solar-generated power across seven novel solar projects situated within the National Grid service area. This prodigious energy capacity is sufficient to power the equivalent of 3,500 homes on an annual basis.
Embracing the Community Solar Model
These solar projects will function under the community solar model, an initiative endorsed by the New York State Energy Research and Development Authority (NYSERDA). This program mandates that solar projects contribute a portion of their revenue back to customers in the form of credits.
Simplified Benefit Distribution
EnergyMark will assume the pivotal role of a solar credit subscription manager, facilitating the seamless distribution of savings by applying credits directly to their customers’ monthly utility bills. This program is open to residential, commercial, and industrial electric consumers, ensuring broad-reaching benefits across sectors.
Contributing to NYS Renewable Goals
By embracing this comprehensive solar endeavor, EnergyMark is not only advancing its own commitment to sustainability but is also contributing to New York State’s broader ambition of attaining 70 percent renewable power generation by 2030. As the state charts a path toward a greener and more sustainable energy landscape, collaborations of this nature become invaluable stepping stones toward realizing ambitious targets.
EnergyMark’s $70 million solar initiative underscores the transformative potential of harnessing solar energy for the betterment of local communities and the environment. As the world pivots toward cleaner energy sources, collaborations and projects of this magnitude pave the way for a more sustainable and resilient energy future.