Source Power Company, a leading community solar management company in New York, and NJR Clean Energy Ventures (CEV), a subsidiary of New Jersey Resources (NYSE: NJR) and a leading renewable energy company that invests in, owns and operates solar projects and provides customers with low-carbon energy solutions, today announced an agreement for Source Power to provide customer acquisition and management services for a new community solar project in Orange and Rockland Counties, New York.
The 7-megawatt (MW) community solar project will provide interested homeowners, renters and businesses in Orange and Rockland Counties the opportunity to get the benefits of clean energy without having to install a solar system on their own property. With its extensive experience in the community solar space, Source Power will lead CEV's customer acquisition efforts and help make solar power accessible to more customers.
Source Power enables clean energy access to New York communities by providing programs and products for both subscribers and developer sponsors. Through strong management experience and service, the company currently offers the lowest acquisition and operational costs available in the market, which will benefit both CEV and subscribers to the solar project. Project subscribers receive benefits from the first day of enrollment, as opposed to waiting for the project's commercial operation date. In addition, Source Power's streamlined billing solution greatly reduces community solar challenges of receivables and churn.
"We are excited to work with NJR Clean Energy Ventures and continue our mission to expand solar access for New York communities while delivering unparalleled results and tremendous cost savings to our customers," said Source Power Company's Managing Director Vincent Palmieri. "We believe this new partnership reflects our commitment to the democratization of clean energy and renewables, allowing our growing customer base to reap the benefits of solar energy.
"Community solar projects are going to play an increasingly important role in building a clean energy future and making solar power more accessible to customers," said Mark Valori, Vice President of NJR Clean Energy Ventures. "With their expertise in subscriber acquisition and management services, we look forward to working with Source Power to deliver low-carbon energy solutions and reliable services to our customers."
A leader in New Jersey's solar market, CEV has invested nearly $1 billion in residential and commercial solar assets since 2010 and owns and operates a total of 357 MW of installed capacity. Source Power's provision of services to CEV reflects the tremendous success Source Power has had in recent years in energy supply billing and management and the company's ability to service community subscribers.
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About Source Power Company
Source Power Company (Source Power) is a regulated Energy Service Company and Distributed Energy Resource Supplier in New York. Source Power provides innovative solutions that pair energy supply with renewable energy generation, providing a unique value proposition to customers and advancing the state's clean energy goals. With roots in the solar development industry, through its sister company Source Renewables, Source Power sits strategically at the intersection of project finance, renewable generation, and energy supply. This allows Source Power to match solar generation with power consumers and use its vertical integration to ensure efficiencies are passed along to customers at competitive prices. Source Power supports a reboot of the retail energy industry and is on a mission to improve products and services, through advanced technology and superior customer experience, while helping the environment and strengthening the communities it serves.
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Original Source: Source Power Company to Provide Customer Acquisition and Management Services for NJR Clean Energy Ventures' Community Solar Project in Orange and Rockland Counties
