1 “Turning Sunlight into Fuel,” Columbia Climate School, Renee Cho, August 24, 2016.

2, 3 U.S. Solar Market Insight, Solar Energy Industries Association, as of December 13, 2022.

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• The land over a capped landfill has heavy usage restrictions¹ and can often sit idle for years. Renewables can give new purpose to these sites.
  

1 Kim Slowey, “Land(fill) of opportunity: Why builders are turning dumps into new developments,” Construction Dive, July 5, 2016.

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Agrivoltaics refers to the practice of utilizing a site for both solar photovoltaic power generation and agricultural activities. This dual land use not only contributes to a more sustainable future, it also provides bilateral benefits for each endeavor.

Crop production + power production

The land under and around solar panels can fulfill a wide variety of agricultural functions. It can be used for food growing, beekeeping, animal husbandry, or even installing greenhouses. Another option is planting habitat that supports pollinator populations, like bees and butterflies, which have been declining due to insecticide use, climate change, and human encroachment.

Pollinator-friendly vegetation also has advantages for crop production, both onsite and in neighboring fields. It’s not uncommon for nearby farmers to see an increase in their crop yields thanks to the greater number of pollinators venturing over to fertilize their crops. Solar sites can also be used as forage for local farmers to graze their livestock. Promoting regenerative agriculture through rotational grazing not only cuts down on site maintenance costs, but builds healthy soil.

These plants improve soil stability and remove carbon from the atmosphere. Their longer root systems help mitigate erosion, storm water runoff, and frost heaves, while sequestering substantial amounts of carbon below ground.

Benefits for solar companies, benefits for local communities

As an organization that builds durable partnerships to drive a clean energy future, Greenbacker is thrilled at the ecological benefits agrivoltaics can provide. As long-term owner-operators, we have a vested interest in how it financially benefits both our fleet of solar energy assets and the local communities our projects will call home for multiple decades.

Because agrivoltaic practices tend to replace the traditional turf grass groundcover installed on solar sites, they help reduce operation and maintenance costs. Grazing sheep can reduce onsite costs associated with both mowing and dethatching (i.e., breaking down dead vegetation). Planting pollinator habitat reduces other vegetation and pest management expenses—particularly compared to the more maintenance-heavy turf grass—more than offsetting its upfront planting expenses. It’s even been found that the cooler microclimates this habitat generates can improve solar panel efficiency.¹

Agrivoltaics projects can also provide additional revenue streams in the community. Local landowners can receive land lease payments for projects built on their property. Farmers can supplement their income by leasing their sheep or cows to graze a solar site; at the same time, they reduce their own livestock feed costs, as well as wear and tear to their own pastureland. Municipalities also stand to gain additional tax revenue from these projects.

The economics of widespread agrivoltaics

While its positive impact is clear, understanding the specific economics and logistics of agrivoltaics is necessary to effectively—and sustainably—deploy it at scale in our fleet and across the industry. Greenbacker is working with some of the country’s top researchers to do just that. 

We’re collaborating with the National Renewable Energy Laboratory and Argonne National Laboratory on the Solar Practices Integrated with Rural Economies and Ecosystems (InSPIRE) project. This study seeks to quantify the benefits that pollinator-friendly solar projects have on local agricultural yields, as well as how low-impact solar can improve a site’s soil quality, carbon storage, stormwater management, microclimate conditions, and solar efficiencies.

Our 88-acre solar project in Sturgis, MI is part of a three-year study by Argonne National Laboratory and the Energy Resources Center at the University of Illinois at Chicago. The purpose of this research is to develop decision-making tools for solar-pollinator habitat projects. Guidance such as planting manuals, cost/benefit calculators, and native seed-mix selection tools can help address critical stakeholder concerns such as project cost, return on investment, and site-specific constraints.

Project design with agrivoltaics in mind

Greenbacker prioritizes agrivoltaics and other nature-based land management solutions at every stage of a renewable energy project’s life cycle, from contracting and permitting to construction and power production.

We design sites with rows that are wide enough to accommodate agricultural maintenance equipment and with appropriate vegetation to accommodate panel height. We build in land access for farmers to bring their livestock and beekeepers to tend to their apiaries. We ensure secure fencing to protect grazers from predators.

We take those steps because agrivoltaics is a crucial component of a sustainable future. It’s a triple-bottom-line scenario with financial, environmental, and social benefits for ourselves and the communities our projects operate in. And with roughly 370 million acres of agricultural farmland set to change hands as farmers retire over the next ten to 15 years,² there’s a huge opportunity on the horizon. Not only can agrivoltaics help protect the livelihood of rural communities by increasing farmland resilience and promoting regenerative agriculture, but it can build a cleaner, cheaper future for the agriculture and energy industries.

1 Kirk Siegler, “This Colorado ‘solar garden’ is a farm under solar panels,” NPR, November 14, 2021.

2 “2021 Transition Recommendations,” American Farmland Trust.

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Recently, a tariff petition from a tiny US-based solar panel manufacturer threatened to bring US solar development to a halt. Auxin Solar¹ requested that new tariffs of up to 250 percent² be levied on solar imports from Malaysia, Thailand, Cambodia, and Vietnam—countries that accounted for over 80 percent of all solar panel imports in 2021.³ As a result, many new US solar projects were stalled, or even scrapped, as manufacturers facing the risk of new tariffs considered exiting the US market altogether.⁴

A week ago, the Biden administration stepped in to bring some relief, instituting a two-year moratorium on solar tariffs from these countries and invoking the Defense Production Act to boost domestic production of solar panels.⁵

This is a step in the right direction, as we absolutely need to encourage solar energy development—while at the same time encouraging US solar panel manufacturing—to mitigate the climate crisis. We are over reliant on Chinese production, which makes our supply chains vulnerable to trade wars and global pandemics, but that reliance is not going to end overnight.

The US used to be a world leader in solar manufacturing. American engineers invented the solar cell⁶ in 1954 at Bell Labs. In the 1980s, the US spent more on solar research and development⁷ than any other country in the world. As recently as 2010, we were a net exporter⁸ of solar panels. In contrast, China didn’t begin⁹ manufacturing solar panels until 2002. Yet substantial government incentives allowed China’s solar power market to grow dramatically: The country became the world’s leading producer of solar panels in 2010.¹⁰

This coincided with a precipitous decline in panel production in the US. In 1990, US firms produced 32 percent of solar panels worldwide; by 2005, they made only nine percent.¹¹ Without the same level of national investment, we could no longer compete in the global market.

And so the tariffs began. The US accused China of providing unfair subsidies, claiming that Chinese companies were dumping solar cells¹²—selling them at less than the cost to manufacture them—to drive out competition. In 2012, the US placed its first¹³ tariffs on Chinese solar cells and modules. In 2018, the government instituted the Section 201 tariffs to give domestic manufacturers temporary relief from the “serious” injury¹⁴ that imports were causing them. This past February, President Biden eased some restrictions, but renewed the Section 201¹⁵ tariffs for four more years.

However, tariffs have not historically resulted in increased domestic solar panel production; deterrents to trade abroad don’t make up for lack of investment at home.

Imagine if the US had made the same effort as China to support a domestic solar manufacturing industry. We would be more competitive in global markets. We would have more cheap solar power available at home. And, in a global pandemic, we would be less reliant on foreign exports and energy.

It’s also worth noting that most solar jobs in the US are associated with building projects, not with manufacturing solar equipment (which accounted for only 31,000 jobs, or 13% of domestic solar industry jobs¹⁶ at the end of 2020). Without the Section 201 tariffs, the US would have installed 11% more solar, employed 62,000 more people, and had $19 billion more in investment,¹⁷ according to the Solar Energy Industries Association, a US solar trade group.

In addition to ending tariffs, we should be offering incentives to encourage manufacturing in the US. Senator Jon Ossoff’s proposed Solar Energy Manufacturing for America Act¹⁸ offers tax credits to US solar manufacturers, and the America COMPETES Act¹⁹ authorizes $3 billion to fund the establishment of a domestic solar manufacturing supply chain. Plus, investing in solar energy has been a winning proposition for taxpayers. Since 2016, no solar project that was approved for funding from the Department of Energy’s Loan Programs Office has missed a payment.²⁰ These projects are projected to generate a minimum of $5 billion in interest²¹ for taxpayers. They’ve already reduced carbon emissions by an amount equivalent to taking 14 coal-fired power plants offline for a year.

Greenbacker joins the solar industry in expressing relief that the Biden administration has taken action, and we’re thrilled that the pause on tariffs has gotten stalled projects moving again. But these steps should be just the beginning.

An ambitious plan to cultivate US solar manufacturing will bring jobs home, decrease our reliance on imports, and meet the climate crisis with carbon-free power. The US government has historically invested in the future, and the future of energy is renewable.

1 “An Analysis of the Auxin Petition and Commerce Investigation and Their Impact on the Solar Industry,” The National Law Review, March 30, 2022.

2 “Tariff Review Could ‘Smother’ US Solar Industry, Energy Secretary Warns,” SparkSpread, May 5, 2022.

3 Solar panel import duties, Norton Rose Fulbright, Project Finance, Keith Martin, February 28, 2022.

4 “Solar Industry ‘Frozen’ as Biden Administration Investigates China,” The New York Times, David Gelles, April 29, 2022.

5 “FACT SHEET: President Biden Takes Bold Executive Action to Spur Domestic Clean Energy Manufacturing,” The White House, June 6, 2022.

6 APS News, Volume 18, Number 4, April 2009.

7 “Why America Doesn’t Really Make Solar Panels Anymore,” Robinson Meyer, The Atlantic, June 15, 2022.

8 “US Solar Industry Was Net Global Exporter by $1.9B in 2010, According to GTM Research and SEIA,” Greentech Media, August 29, 2011.

9 “Solar Energy in China: The Past, Present, and Future (ucsd.edu),” Huizhong Tan, China Focus, February 16, 2021.

10 “When Solar Panels Became Job Killers,” Keith Bradsher, The New York Times, April 8, 2017.

11 “Why America Doesn’t Really Make Solar Panels Anymore,” Robinson Meyer, The Atlantic, June 15, 2022.

12 “U.S. Slaps Tariffs on Chinese Solar Panels,” Keith Bradsher and Diane Cardwell, The New York Times, May 17, 2012.

13 “U.S. sets new tariffs on Chinese solar imports,” Matt Daily, Reuters, May 17, 2012.

14 Understanding Safeguard Investigations, United States International Trade Commission.

15 “Biden admin eases Trump-era solar tariffs but doesn’t end them,” Jarrett Renshaw and Nichola Groom, Reuters, February 4, 2022.

16 “To understand why Biden extended tariffs on solar panels, take a closer look at their historical impact,” The Conversation, April 6, 2022.

17 The Adverse Impact of Section 201 Tariffs, Solar Energy Industries Association, December 2019.

18 “Sen. Ossoff Successfully Negotiates Inclusion of Solar Manufacturing Bill in Budget Measure,” October 28, 2021.

19 “America COMPETES Act of 2022 authorizes $3 billion for domestic solar manufacturing,” Kelly Pickerel, Solar Power World, January 26, 2022.

20 “Biden could prove the Solyndra scandal wasn’t a failure,” Tim McDonnell, Quartz, February 4, 2021.

21 “Biden could prove the Solyndra scandal wasn’t a failure,” Tim McDonnell, Quartz, February 4, 2021.

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The issue of polysilicon sourcing has grown into a human rights concern, particularly for members of the renewable energy industry. About 45% of the world’s solar-grade polysilicon, a key material in the manufacture of solar panels (i.e., modules), comes from the Xinjiang region of China, where it’s come to light that serious human rights abuses are being perpetrated—including forced labor in the refining of polysilicon.

It’s Greenbacker’s mission to become a world-class renewable infrastructure investment fund, and we know that requires holding ourselves and our partners to the highest standards of equity, quality, and sustainability. The effort we put into improving our company’s impact is something we take immense pride in.

It’s difficult to track the polysilicon used in the building materials of our solar projects, similar to how it’s difficult to source the exact origination point of the raw materials incorporated into personal electronics. Ultimately, the polysilicon supply is several steps removed along the supply chain from the end users of the solar panels.

Typically, after suppliers refine the raw material, they sell it to a solar wafer manufacturer, who provides those components to a solar module manufacturer, who then furnishes the finished panels to consumers (like us). Moreover, given that polysilicon is also a commodity, manufacturers’ specific suppliers can change frequently, due to supply and demand dynamics. This makes it even more challenging to identify the origination point of a specific polysilicon supply chain.

Greater awareness, redoubled due diligence

We prioritize full due diligence on our solar module manufacturers. As a company, we allocate significant resources to inspecting factories and hiring experts to observe the manufacturing of the majority of solar panels we acquire. We also know where our solar module manufacturers source their solar wafers.

However, until recently, we’ve had our noses to the grindstone, concentrating on the rapid and responsible growth of our business, and had not specifically focused on where the solar wafer producers, who supply the solar cells for our modules, were sourcing their polysilicon. Rest assured that our heads are now fully up on this.

We’ve now studied the situation and are aware of the human rights violations and abusive labor practices taking place in the region that supplies almost half our industry’s polysilicon. In response, we’ve added a new level of scrutiny to our process: We will make absolutely sure that there is no forced labor involved in the production of the polysilicon used in our solar modules.

The work we’ve done

We’ve scrutinized every direct solar module purchase Greenbacker has made to date, going as far back as the fourth quarter of 2016.

We’ve been able to speak with over 95% of the manufacturers of those panels and have confirmed: None of the polysilicon used in the modules we’ve directly purchased was sourced from Xinjiang. Nor was it produced by forced labor of any kind. The remaining 5% comprises two small transactions, totaling approximately 25 megawatts (MW). We are still waiting to hear back from the manufacturers regarding where they were sourcing their polysilicon at the time of those respective purchases.

To be clear, this only covers modules we have purchased directly. We do own solar project sites that were already operational when we acquired them or that came with pre-purchased modules already incorporated. In these instances, it’s not possible for us to track the original polysilicon source. Still, we have thoroughly investigated the general purchasing practices of the module manufacturers in those cases and discovered that they generally don’t source their polysilicon from Xinjiang.

The work we’ll do

We can, however, confirm that our recent purchase of 262 MW worth of solar modules, the largest purchase in our company’s history, has no polysilicon either sourced from Xinjiang or refined using inhumane labor practices.

As we continue forward,Greenbacker will diligently monitor the polysilicon supply of all our solar module purchases. And, as always, we will be open and transparent about the process.

At Greenbacker, we lead by doing. It’s our sincere hope that our efforts will increase awareness of the importance of monitoring project supply chains from origin point to breaking ground. We also hope this will encourage an overall closer look at how raw materials are sourced, and how the solar industry’s purchasing power can be used to influence positive change. Labor practices should be decent, inclusive, and sustainable—and human rights must never be disregarded.

The post On our radar: slave labor and the solar panel supply chain appeared first on Greenbacker Capital.

Greenbacker’s solar projects do more than just produce clean energy–they also support declining pollinator populations.

Being a good steward of the land is a top priority for Greenbacker Renewable Energy Company and our fleet of sustainable energy projects. A new program at our solar assets is a living example of this mission.

In addition to generating reliable clean power, some of our projects have begun utilizing the land beneath solar panel arrays to support native flora and fauna—as well as the larger local ecosystem—by planting pollinator-friendly vegetation.

Reestablishing local ecology, supporting native pollinators

We’ve partnered with solar developer Encore Renewable Energy and pollinator-habitat installation organization Bee the Change to introduce a variety of native perennial plants under solar panels instead of the turf grass groundcover that is typically installed.

These flowering plants and native grasses create valuable habitat and forage that help support diverse and healthy pollinator populations (such as native bees, butterflies, and hummingbirds), which have been declining due to insecticide use, climate change, and human encroachment. They also contribute to the overall ecological health and biodiversity of the area, as the restored indigenous growth and returning pollinators are a vital part of the life cycle and food chains of many plant and animal species.

The techniques used to prepare the land for this new groundcover tend to vary by geography and site characteristics, but a critical first step involves taking inventory of the existing vegetation on site. If the existing ground cover compliments pollinator-friendly seed, the vegetation and topsoil will remain intact, and the pollinator friendly seed will enhance the already beneficial ground cover. If the existing vegetation is not conducive to the success of the pollinator friendly vegetation, the soil will be tilled to remove the existing vegetation. From there, a sturdy cover crop (typically clover and oats) is planted to outcompete and eliminate any invasive species in the seed bed. This also helps add vital nutrients to the soil before the final pollinator-friendly seed mix is planted.

Once established, the newly introduced greenery provides potential operational advantages for solar project owners. Because these plants require less upkeep than turf grass, which needs to be mowed and regularly maintained, maintenance costs are reduced for the site, more than offsetting upfront planting expenses. The new flora may also create a cooler microclimate beneath the solar arrays, which helps improve panel efficiency.

Planting pollinators at the Catholic Charities solar site in Washington, DC

Soil stability, carbon benefits, and agricultural advantages

Along with reinvigorating pollinator and pollinator-dependent populations, the new vegetation also provides benefits below the surface of the ground and beyond the fence line of a solar facility. The plantings significantly improve soil stability and water quality, as their deeper root systems mitigate erosion, decrease frost heave potential, and reduce stormwater runoff.

These new solar farm plantings also help remove carbon from the atmosphere. The acres of pollinator-friendly groundcover create natural carbon sinks, absorbing substantial amounts of carbon dioxide via photosynthesis and sequestering it in the biomass of the deep-rooted perennial vegetation.

It’s also not uncommon for farmers near these project sites to see increased crop yields. Blueberries in particular are a highly pollinator-dependent fruit. Studies show that blueberry farms located near pollinator-friendly sites generate larger berry harvests thanks to the greater number of pollinatorsventuring over to fertilize the crops.

On solar sites where pollinator-friendly plants won’t optimally benefit the land, we look to introduce flora alternatives that will. For instance, native grasses can provide similar ecological and operational benefits, while also introducing new ones. Such sites can be used as grazing lands for local livestock or provide a combination of pollinator-friendly growth and pastureland. Along with helping to deepen community relations, creating new pasture for rotational grazing can also help reduce mowing costs, build healthy soil, and provide long-term carbon sequestration below ground.¹ Sheep even enjoy the shade provided by the panels (a true win-win for all involved!).

A pipeline of pollinator-friendly sites

On April 22, 2021, Greenbacker joins the rest of the planet in celebrating the 51st annual Earth Day, and we remain committed to facilitating society’s progress toward environmental sustainability every day of the year.

Our pollinator planting initiative is currently in place, or in the pipeline, for 15 projects (representing a renewable energy–generating capacity of 102 MW) across more than 450 acres in five states. And those numbers have been growing steadily. In fact, we recently celebrated a milestone when our fleet of renewable energy projects surpassed 1 GW of total generating capacity.

We’re very excited about the potential ecological and operational benefits pollinator-friendly vegetation can add to our solar sites over the coming growing seasons. And we’re not the only ones: Argonne National Laboratory, the National Renewable Energy Laboratory, and several other research organizations recently launched a joint project to quantify—and create tools to replicate—the ecological and economic benefits of co-locating pollinator plantings at large-scale solar facilities and are using a number of Greenbacker owned sites to conduct their research.  

Through our collaborative relationship with Encore and Bee the Change, we will continue to ensure the successful establishment and maintenance of pollinator habitats on our solar sites. And as we increase our fleet of sustainable infrastructure and energy efficiency projects, we look forward to the additional land stewardship initiatives we can implement by next year’s Earth Day.

1 Maria Silveira, Ed Hanlon, Mariana Azenha, and Hiran M. da Silva, Carbon Sequestration in Grazing Land Ecosystems, University of Florida, Institute of Food and Agricultural Sciences, September 2012.

Disclosure

This information has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, or to participate in any trading or investment strategy. This is a private offering made only pursuant to exemptions provided by Section 4(a)(2) of the Securities Act, Rule 506(b) of Regulation D and applicable state securities laws and solicitation is limited to clients with substantive pre-existing relationships. If any offer of securities is made, it will be pursuant to a definitive offering memorandum prepared by Greenbacker Capital Management LLC (“Greenbacker”) that contains material information not contained herein and which supersedes this information in its entirety. Any decision to invest in the strategy described herein should be made after reviewing a confidential private placement memorandum (“PPM”), conducting investigations and consulting the investor’s own investment, legal, accounting, and tax advisors in order to make an independent determination of the suitability and consequences of an investment. Greenbacker does not provide tax advice. Investors are urged to consult with their own tax advisors regarding an investment in the strategy described herein and the realization of any tax benefits. The information presented herein may involve Greenbacker’s views, estimates, assumptions, facts, and information from other sources that are believed to be accurate and reliable and are, as of the date this information is presented, subject to change without notice.  There are material risks associated with investing in alternative Investments including financing risks, general economic risks, long hold periods, and potential loss of the entire investment principal. Potential cash flow, returns and appreciation are not guaranteed Please read the PPM in its entirety, paying careful attention to the risk section prior to investing.

Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded, limited liability company that acquires and manages income-generating renewable energy projects and other energy-related businesses.

Greenbacker Capital Management LLC. 230 Park Ave. Suite 1560, New York, NY 10169

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Las Vegas, NV, March 17, 2021 — McCarthy Building Companies’ Renewable Energy & Storage group recently completed construction of the Turquoise Solar Project in Washoe County, Nevada. The new 61 MWdc solar farm is located on approximately 180 acres in the Reno Technology Park—a 2,200-acre master planned industrial park shared between Apple and Turquoise Solar, who own approximately 1,600 and 600 acres, respectively.

Within the Park, the Turquoise Solar Project is owned by Greenbacker Renewable Energy Company (“GREC”), a utility-scale renewable energy development company. Upon completion, the project became the largest operating solar project in GREC’s portfolio. The project was also recently awarded “Utility-Scale Project of the Year” in Solar Builder’s 2020 Project of the Year awards.

“Turquoise is the largest single operating solar project in the Greenbacker Renewable Energy Company portfolio to date, with many more great projects soon joining it from our construction pipeline. Moreover, it is very highly regarded in the solar power industry,” said Charles Wheeler, CEO of GREC. “Completing it has been a huge accomplishment and is the product of a tremendous collaborative effort between the parties involved. We’re incredibly proud to have been part of it all. Despite an extremely challenging year across the country, 2020 was a year of growth for us, as we continued to bring amazing new wind and solar projects like this one online. During the year, our total investment income increased by 60% reflecting the strong growth we’ve achieved thanks to projects like Turquoise.

The project reached commercial operation on December 4, 2020 and has outperformed expected power generation to date, despite lower-than-expected levels of sunshine. This strong performance has benefited from the service provider’s ability to keep the inverters at near-100% availability to generate clean power for Apple’s data center. Cypress Creek Renewables provides operations and maintenance for the project.

Apple is proud that for nearly three years we’ve powered all of our worldwide operations with 100 percent renewable energy,” said Lisa Jackson, Apple’s Vice President of Environment, Policy and Social Initiatives. “In the process, we’ve charted a course for other companies and organizations to bring clean energy projects to communities around the world and help combat climate change. We’re excited to have the Turquoise Solar Project bringing new renewable energy to Nevada.”

The project, originally developed by Estuary Capital Partners and Sumitomo Corporation of Americas, was acquired by GREC in 2019. “Estuary first envisioned the Turquoise Solar project back in 2013,” said Jill Daniel, president of Estuary. “Previously, the site had been intended for natural gas-fired power generation. Estuary considered the site better suited to solar, especially given Apple’s industry-leading commitment to the environment. The project benefited greatly from the support of NV Energy and our partners in Washoe County, who helped it overcome many challenges, and we’re proud of our contribution to making it a reality.”

Construction of the project began in November 2019 and created 236 clean energy craft worker construction jobs, over 90% of which were filled by Nevada residents. It also represented a more than $60 million investment in Washoe County.

Much of the Turquoise Solar Project is located on rocky desert terrain with slopes ranging from 10% – 30%, which presented a unique engineering challenge. McCarthy, which served as the engineering, procurement, and construction (EPC) contractor on the project, partnered with TerraSmart to design and engineer a plan for the site. The approach had the support of in-house and external consultants and hinged on TerraSmart’s fixed-tilt racking system, which utilizes ground screw foundations. The system proved more than up to the terrain and was able to handle drilling into the site’s rocks, hills, and arduous soils. Through the collaboration, McCarthy and TerraSmart saved time and costs by minimizing clearing and civil work on the project, which also involved the installation and wiring of 156,000 bifacial 390W ET Solar modules.

“Thanks to the collaborative partnership with TerraSmart, this was another project where our team could design and engineer a solution for a solar project that had very unique terrain challenges,” said Scott Canada, senior vice president of McCarthy’s Renewable Energy Group. “We are also grateful to the exceptional local craft workforce for their ability to work safely and efficiently during these challenging times. Their efforts ensured the commission of the Turquoise Solar Project, allowing for the generation of clean energy to power Apple’s data center.”

Over the past decade, McCarthy’s Renewable Energy & Storage group has completed, or is in the process of completing, construction on more than 50 utility-scale clean energy projects in communities across the country. These projects deliver a combined capacity of more than 4.2 GW of clean power production and 320 MW of energy storage to the communities they serve.

“TerraSmart was pleased to partner with McCarthy on the Turquoise Solar Project and provide our turnkey ground mount-racking solution to help build a key utility-scale solar project at the Reno Technology Park,” says TerraSmart CEO Ryan Reid. “Initially, Turquoise presented many challenges to installers who said the land conditions couldn’t be penetrated. However, the site’s topography and subsurface conditions were nothing new to TerraSmart. Known to forge into the toughest of soil conditions, TerraSmart’s refined engineered products, agile machinery, and adjustable racking solution enabled a successful install on the mountainous Nevada base’s basalt cobbles, boulders and bedrock. Our proprietary tech has been standing up to extreme winds, freezing ground conditions and tenuous terrains for over a decade.”

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The project, Graphite Solar I LLC, is located in Carbon County, Utah and has a long-term Power Purchase Agreement (“PPA”) in place with the utility PacifiCorp on behalf of Facebook. The contract was developed under Rocky Mountain Power’s Schedule 34 green energy tariff, which allows large customers to purchase renewable energy generated on their behalf. The project supports Facebook’s goal of 100% renewable energy for its operations and is expected to reach commercial operations (“COD”) in Q4 2021.

“Graphite Solar, now our largest solar acquisition to date, is indicative of growing scale within our portfolio.” said Charles Wheeler, CEO of Greenbacker. “Large projects like Graphite will increasingly be necessary to meet the electricity needs of the technology economy and provide carbon neutral alternatives to traditional power sources. We were pleased to work with rPlus Energies, who proved to be a valuable partner during this transaction and will continue supporting the project through construction.”

 “We look forward to working with Greenbacker to help PacifiCorp and Facebook tap the excellent solar capacity available in Utah,” said Luigi Resta, CEO, rPlus Energies. “And we look forward to continuing to work with the Carbon County community through project construction, with a focus on energizing the economy and local hiring. With the long-term goal to help rebuild America’s aging energy infrastructure, the sale of this project will allow rPlus to continue to advance renewable energy projects in communities across the United States.”

With the acquisition of Graphite Solar I, Greenbacker will own approximately 915.4 MW of generating capacity (including assets that are to be constructed), comprising 641.7 MW of utility-scale and distributed solar facilities, 242.6 MW of wind facilities, 19.1 MW of battery storage, and 12.0MW of biomass facilities.

About Greenbacker Renewable Energy Company

Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability energy company that acquires and manages income-generating renewable energy and energy efficiency projects, and other energy-related businesses. The projects in which we invest, such as solar and wind facilities, sell power under long-term contract to high credit worthy counterparties such as utilities, municipalities, and corporations. For more information, please visit www.greenbacker.com.

About rPlus Energies

rPlus Energies develops modern power plants to contribute to the rebuilding of America’s energy infrastructure. Through partnership with the private sector, municipalities, and utilities, rPlus develops utility-scale power plants to access a region’s best mix of renewable resources to enable a more dispatchable and reliable power supply. rPlus Energies currently has approximately 35 projects in 18 states in active development including solar, wind, pumped-hydro, and solar plus battery. rPlus Energies is a subsidiary of The Gardner Companies, which have been dedicated to building better communities through thoughtful, sustainable practices in developing and managing real estate, renewable energy and technology, and providing results-oriented philanthropy since 1976. Learn more at www.rplusenergies.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.

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“This agreement is the perfect example of a successful triple bottom line endeavor.” said Chad Farrell, Founder and CEO of Encore Renewable Energy. “We are creating environmentally sustainable ground cover that improves soil quality, fixes roots into the ground, and channels stormwater back into underlying aquifers, while addressing the social importance of supporting healthy food systems. These impacts will extend beyond the boundaries of each of these solar projects to support other species who rely on strong pollinator populations including birds, fish, other animals and, ultimately, all of us as well.”

“Greenbacker is excited to partner with Encore to roll out pollinator friendly vegetation at our sites,” said Matt Murphy, COO of Greenbacker Capital. “When we can be thoughtful about our landscape design in order to improve our local ecology and community, while also driving down our overall O&M costs, we consider this a win-win. We strive to be good stewards of the land and this approach allows us to not only reduce our carbon emissions, but actively sequester carbon through the biomass of these deep rooted perennial plants.“

The higher upfront costs of establishing pollinator friendly ground cover in Vermont and Maine are offset by long term savings for vegetative management. Pollinator friendly ground cover at solar sites also allows for healthy plant ground cover that shades the soil, creating cooler ground conditions that may mitigate the negative effects of heat on solar energy production. Finally, the local communities around these projects will benefit as well, as research shows pollinator-friendly solar sites may increase the yields of some nearby crops. A recent study led by Rutgers University showed that the yields of several US crops are limited by lack of pollinators. Ground cover on each of the 14 new solar projects will be designed and managed according to guidance published by The University of Vermont in collaboration with the Vermont Department of Agriculture and others.

“It’s exciting to see influential leading companies like Encore and Greenbacker embracing innovation and making productive use of the land under and around solar farms—particularly in a pair of states where farmers tend more than 110,000 acres of berries, orchards, and vegetables,” said Rob Davis, director of the Center for Pollinators in Energy at nonprofit Fresh Energy.

Scientists predict farmers and other landowners will lease more than 2 million acres of land for photovoltaic solar projects by 2030—an increase from around 300,000 acres today. But these facilities are looking more and more like traditional farms every year. With support from the Solar Energy Technologies Office of the U.S. Department of Energy, scientists at the National Renewable Energy Laboratory are conducting research into “low-impact” solar development designs that provide dual-uses and co-benefits to agriculture and ecosystems. The NREL study, named InSPIRE, is also showing how low-impact solar designs can reduce costs and increase operating efficiency because of reduced mowing and creation of a cooler micro-climate under the panels. More than a dozen states have adopted land use standards to encourage pollinator-friendly ground cover under and around the panels on solar facilities ranging from a few to a few thousand acres. Hundreds of honey bee hives in the Midwest, Northwest, and Northeast forage for pollen and nectar on solar farms and thousands of sheep have already logged millions of “sheep hours” while rotationally grazing solar farms.

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“We’re excited to have worked with Broad Reach Power on our largest solar project to date.” said Charles Wheeler, CEO of Greenbacker. “Expanding our solar portfolio in South Dakota will provide a clean energy option and a source for local employment in the state. We see tremendous potential in large scale pipeline investments such as Fall River Solar for both the people of South Dakota and our shareholders.”

“We also enjoyed our collaboration with the Greenbacker team and look forward to seeing this project continue to advance,” added Broad Reach Power Managing Partner and Chief Executive Officer Steve Vavrik.

With the acquisition of Fall River Solar, Greenbacker will own approximately 753.5 MW of generating capacity (including assets that are to be constructed), comprising 529.8MW of utility-scale and distributed solar facilities, 192.6MW of wind facilities, 19.1 MW of battery storage, and 12.0MW of biomass facilities.

About Greenbacker Renewable Energy Company

Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability energy company that acquires and manages income-generating renewable energy and energy efficiency projects, and other energy-related businesses. The projects in which we invest, such as solar and wind facilities, sell power under long-term contract to high credit worthy counterparties such as utilities, municipalities, and corporations. For more information, please visit www.greenbackercapital.com.

About Broad Reach Power

Broad Reach Power is a utility-scale storage independent power producer (IPP) based in Houston backed by leading energy investors EnCap Investments L.P., Yorktown Partners, and Mercuria Energy. The company owns a five gigawatt portfolio of utility scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas which give utilities, generators and customers access to technological insight and tools for managing merchant power risk so they can better match supply and demand. Broad Reach is led by a team comprised of solar, wind, and storage experts who have delivered more than four gigawatts of projects and have a combined 80 years of experience in the field. For more information about the company, visit www.broadreachpower.com. 

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.

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