January 25, 2016, BOSTON, MA – BlueWave and WinnDevelopment’s Open Market ESCO have executed an agreement that will provide $500k in energy savings to Winn’s low-income residential communities in the Greater New Bedford area. The savings will come from net metering credits generated at BlueWave’s 1.1. MW ground-mount Community Solar project in Fairhaven, MA.
“WinnCompanies has long been committed to improving the energy efficiency of affordable housing communities and this contract provides us with an excellent opportunity to take our sustainability efforts a step further,” said Darien Crimmin, Vice President of Energy and Sustainability at WinnDevelopment. “We appreciate BlueWave’s work with Open Market ESCO because it provides tangible evidence of how multifamily properties can benefit from clean solar power.”
Under this contract, properties managed by WinnResidential will purchase net metering credits for 680,000 kWh’s annually (or 514 kWDC). This will cover a significant portion of the customer’s electricity usage and is estimated to save the properties over five-hundred thousand dollars over the 20-year life of the contract.
“WinnDevelopment’s commitment to providing affordable housing for families across the country is unwavering, and no affordable housing provider in the country has a greater commitment to sustainability. For both these reasons, we are proud to have them as a customer,” said BlueWave’s Managing Director, Aidan Foley.
The Fairhaven project is one of BlueWave’s Community Solar projects that will start generating savings for customers by March 2016. With the WinnCompanies managed properties contracted for 49% of the system’s output, the remaining net metering credits will be offered to residents in Eversource’s service area in Southeastern Massachusetts – enough energy to power 150 homes.
WinnCompanies launched Open Market ESCO in 2013 to finance innovative energy efficiency and solar retrofits for low-income housing. The program was established in part with a $5.25 million grant from the U.S. Department of Housing and Urban Development’s (HUD) Energy Innovation Fund.
With over 100MW of pipeline secured in Massachusetts and over 20 agreements signed with Housing Authorities, cities and towns, and educational institutions across the Commonwealth, BlueWave is delivering meaningful electricity savings, economic investment, and environmental benefits to communities throughout the Commonwealth.
BlueWave is a solar energy company founded on a mission to protect our planet by expanding access to solar for everyone, everywhere. We are driven to transform the energy status quo—enabling communities to take control of their energy production, and consumers to choose clean, low cost power. Founded in Massachusetts, with operations around the globe, BlueWave remains committed to our founding principles: preserving the environment; honesty and transparency in everything we do; and respecting and supporting our employees, partners, and customers.
Learn more about BlueWave’s Consumer Products & Platform: www.bluewaverenewables.com
Learn about BlueWave’s Solar Project Development work: www.bluewave-capital.com
WinnCompanies is an award-inning national property development and management company dedicated to the highest standards of excellence. WinnCompanies acquires, develops and manages multifamily, affordable, senior, mixed-income, market rate and commercial properties through its three divisions: WinnDevelopment, WinnResidential and WinnMilitary. Founded by Arthur Winn in 1971 and now operating in 23 states, it is the fifth largest multi-family housing manager and largest manager of affordable and military housing in the United States.