![\"Greenbacker](\"https://greenbackercapital.com/wp-content/uploads/2022/10/Greenbacker-How-Solar-Works-withtext_and-title-1024x917.png\")
1 “Turning Sunlight into Fuel,” Columbia Climate School, Renee Cho, August 24, 2016.
\n\n\n\n2, 3 U.S. Solar Market Insight, Solar Energy Industries Association, as of December 13, 2022.
\nThe post How solar panels harvest solar energy appeared first on Greenbacker Capital.
\n", "content_text": "Every hour, enough sunlight shines on the earth to power the entire planet with solar energy for one year.1\n\n\n\nThanks to declining technology costs, supportive policies like the Inflation Reduction Act, and increasing demand for renewable energy, there are over 135 gigawatts of installed solar capacity in the US.2\n\n\n\nThat\u2019s enough to power 24 million households with clean energy,3 harnessed by solar panels that work like this.\n\n\n\n\n\n\n\n\n\n\n\n\n1 “Turning Sunlight into Fuel,” Columbia Climate School, Renee Cho, August 24, 2016.\n\n\n\n2, 3 U.S. Solar Market Insight, Solar Energy Industries Association, as of December 13, 2022.\nThe post How solar panels harvest solar energy appeared first on Greenbacker Capital.", "date_published": "2023-01-25T11:58:05+00:00", "date_modified": "2023-01-25T18:52:57+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2023/01/Greenbacker-How-Solar-Works-withtext-e1674672455778.png", "tags": [ "Resources", "Solar" ], "summary": "There is enough installed solar capacity in the US to power 24 million homes with clean energy, harnessed by solar panels that work like this." }, { "id": "https://greenbackercapital.com/?p=3833", "url": "https://greenbackercapital.com/2022/07/how-solar-on-landfill-works/", "title": "How solar on landfill works", "content_html": "\n![\"Greenbacker](\"https://greenbackercapital.com/wp-content/uploads/2022/07/Greenbacker-landfill-1024x853.png\")
1 Kim Slowey, “Land(fill) of opportunity: Why builders are turning dumps into new developments,” Construction Dive, July 5, 2016.
\nThe post How solar on landfill works appeared first on Greenbacker Capital.
\n", "content_text": "Solar farms can safely transform former landfills into sources of cheaper clean energy for consumers and generate revenue for communities.\n\n\n\nThe land over a capped landfill has heavy usage restrictions1 and can often sit idle for years. Renewables can give new purpose to these sites.\n\n\n\n\n\n\n1 Kim Slowey, “Land(fill) of opportunity: Why builders are turning dumps into new developments,” Construction Dive, July 5, 2016.\nThe post How solar on landfill works appeared first on Greenbacker Capital.", "date_published": "2022-07-18T10:30:50+00:00", "date_modified": "2022-09-01T16:37:02+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2022/07/Greenbacker-landfill-e1658161030327.png", "tags": [ "Investment Insights", "Resources", "Solar" ], "summary": "Solar farms can safely transform former landfills into sources of cheaper clean energy for consumers, while generating revenue for communities." }, { "id": "https://greenbackercapital.com/?p=3795", "url": "https://greenbackercapital.com/2022/06/with-agrivoltaics-solar-sites-harvest-more-than-just-clean-energy/", "title": "With agrivoltaics, solar sites harvest more than just clean energy", "content_html": "\nAgriculture and clean energy have something in common: The best land for harvesting crops also happens to be the best space for harnessing solar power. To produce both, you need stable soil, open sky, and plenty of sunshine. Fortunately, the same land can be used for both simultaneously.
\n\n\n\nAgrivoltaics 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.
\n\n\n\n
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.
\n\n\n\nPollinator-friendly vegetation also has advantages for crop production, both onsite and in neighboring fields. It\u2019s 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.
\n\n\n\nThese 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.
\n\n\n\n![\"Greenbacker](\"https://greenbackercapital.com/wp-content/uploads/2022/06/Shelburne-Museum-1-1024x768.jpeg\")
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.
\n\n\n\nBecause 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\u2014particularly compared to the more maintenance-heavy turf grass\u2014more than offsetting its upfront planting expenses. It\u2019s even been found that the cooler microclimates this habitat generates can improve solar panel efficiency.1
\n\n\n\nAgrivoltaics 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.
\n\n\n\n
The economics of widespread agrivoltaics
While its positive impact is clear, understanding the specific economics and logistics of agrivoltaics is necessary to effectively\u2014and sustainably\u2014deploy it at scale in our fleet and across the industry. Greenbacker is working with some of the country\u2019s top researchers to do just that.
\n\n\n\nWe\u2019re 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\u2019s soil quality, carbon storage, stormwater management, microclimate conditions, and solar efficiencies.
\n\n\n\nOur 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.
\n\n\n\n![\"Planting](\"https://greenbackercapital.com/wp-content/uploads/2022/06/Catholic-Charities-1024x683.jpg\")
Project design with agrivoltaics in mind
Greenbacker prioritizes agrivoltaics and other nature-based land management solutions at every stage of a renewable energy project\u2019s life cycle, from contracting and permitting to construction and power production.
\n\n\n\nWe 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.
\n\n\n\nWe take those steps because agrivoltaics is a crucial component of a sustainable future. It\u2019s 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\u2019s 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.
\n\n\n\n1 Kirk Siegler, \u201cThis Colorado ‘solar garden’ is a farm under solar panels,\u201d NPR, November 14, 2021.
\n\n\n\n2 \u201c2021 Transition Recommendations,\u201d American Farmland Trust.
\nThe post With agrivoltaics, solar sites harvest more than just clean energy appeared first on Greenbacker Capital.
\n", "content_text": "Agriculture and clean energy have something in common: The best land for harvesting crops also happens to be the best space for harnessing solar power. To produce both, you need stable soil, open sky, and plenty of sunshine. Fortunately, the same land can be used for both simultaneously.\n\n\n\nAgrivoltaics 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.\n\n\n\nCrop production + power production\n\n\n\nThe 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.\n\n\n\nPollinator-friendly vegetation also has advantages for crop production, both onsite and in neighboring fields. It\u2019s 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.\n\n\n\nThese 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. \n\n\n\nPollinator plantings in bloom at Shelburne Museum, Greenbacker\u2019s 1 MWdc agrivoltaics project in Vermont.\n\n\n\nBenefits for solar companies, benefits for local communities\n\n\n\nAs 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.\n\n\n\nBecause 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\u2014particularly compared to the more maintenance-heavy turf grass\u2014more than offsetting its upfront planting expenses. It\u2019s even been found that the cooler microclimates this habitat generates can improve solar panel efficiency.1\n\n\n\nAgrivoltaics 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.\n\n\n\nThe economics of widespread agrivoltaics\n\n\n\nWhile its positive impact is clear, understanding the specific economics and logistics of agrivoltaics is necessary to effectively\u2014and sustainably\u2014deploy it at scale in our fleet and across the industry. Greenbacker is working with some of the country\u2019s top researchers to do just that. \n\n\n\nWe\u2019re 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\u2019s soil quality, carbon storage, stormwater management, microclimate conditions, and solar efficiencies.\n\n\n\nOur 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.\n\n\n\nA worker plants pollinator habitat at Greenbacker\u2019s 2 MWdc solar farm in Washington, DC.\n\n\n\nProject design with agrivoltaics in mind\n\n\n\nGreenbacker prioritizes agrivoltaics and other nature-based land management solutions at every stage of a renewable energy project\u2019s life cycle, from contracting and permitting to construction and power production.\n\n\n\nWe 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.\n\n\n\nWe take those steps because agrivoltaics is a crucial component of a sustainable future. It\u2019s 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\u2019s 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.\n\n\n\n\n\n\n\n\n\n\n\n1 Kirk Siegler, \u201cThis Colorado ‘solar garden’ is a farm under solar panels,\u201d NPR, November 14, 2021.\n\n\n\n2 \u201c2021 Transition Recommendations,\u201d American Farmland Trust.\nThe post With agrivoltaics, solar sites harvest more than just clean energy appeared first on Greenbacker Capital.", "date_published": "2022-06-27T13:43:24+00:00", "date_modified": "2022-08-15T20:35:31+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2022/06/LawrenceBrook_091121-112-scaled-e1656343443144.jpg", "tags": [ "Resources", "Solar" ], "summary": "The best land to harvest crops is also the best place to harness solar power. With agrivoltaics, a site can be used for both, providing benefits for both endeavors while driving a more sustainable future." }, { "id": "https://greenbackercapital.com/?p=3723", "url": "https://greenbackercapital.com/2022/06/pausing-tariffs-is-good-news-for-us-solar/", "title": "Pausing tariffs is good news for US solar", "content_html": "\n\n\n\n\nRecently, 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\u2014countries 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
\n\n\n\nA 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
\n\n\n\nThis is a step in the right direction, as we absolutely need to encourage solar energy development\u2014while at the same time encouraging US solar panel manufacturing\u2014to 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.
\n\n\n\nThe 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\u2019t begin9 manufacturing solar panels until 2002. Yet substantial government incentives allowed China’s solar power market to grow dramatically: The country became the world\u2019s leading producer of solar panels in 2010.10
\n\n\n\nThis 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.
\n\n\n\nAnd so the tariffs began. The US accused China of providing unfair subsidies, claiming that Chinese companies were dumping solar cells12\u2014selling them at less than the cost to manufacture them\u2014to 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 \u201cserious\u201d injury14 that imports were causing them. This past February, President Biden eased some restrictions, but renewed the Section 20115 tariffs for four more years.
\n\n\n\nHowever, tariffs have not historically resulted in increased domestic solar panel production; deterrents to trade abroad don\u2019t make up for lack of investment at home.
\n\n\n\nImagine 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.
\n\n\n\nIt\u2019s 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.
\n\n\n\nIn addition to ending tariffs, we should be offering incentives to encourage manufacturing in the US. Senator Jon Ossoff\u2019s 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\u2019s Loan Programs Office has missed a payment.20 These projects are projected to generate a minimum of $5 billion in interest21 for taxpayers. They\u2019ve already reduced carbon emissions by an amount equivalent to taking 14 coal-fired power plants offline for a year.
\n\n\n\nGreenbacker joins the solar industry in expressing relief that the Biden administration has taken action, and we\u2019re thrilled that the pause on tariffs has gotten stalled projects moving again. But these steps should be just the beginning.
\n\n\n\nAn 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.
\n\n\n\n1 \u201cAn Analysis of the Auxin Petition and Commerce Investigation and Their Impact on the Solar Industry,\u201d The National Law Review, March 30, 2022.
\n\n\n\n2 \u201cTariff Review Could \u2018Smother\u2019 US Solar Industry, Energy Secretary Warns,\u201d SparkSpread, May 5, 2022.
\n\n\n\n3 Solar panel import duties, Norton Rose Fulbright, Project Finance, Keith Martin, February 28, 2022.
\n\n\n\n4 \u201cSolar Industry \u2018Frozen\u2019 as Biden Administration Investigates China,\u201d The New York Times, David Gelles, April 29, 2022.
\n\n\n\n5 \u201cFACT SHEET: President Biden Takes Bold Executive Action to Spur Domestic Clean Energy Manufacturing,\u201d The White House, June 6, 2022.
\n\n\n\n6 APS News, Volume 18, Number 4, April 2009.
\n\n\n\n7 \u201cWhy America Doesn\u2019t Really Make Solar Panels Anymore,\u201d Robinson Meyer, The Atlantic, June 15, 2022.
\n\n\n\n8 \u201cUS Solar Industry Was Net Global Exporter by $1.9B in 2010, According to GTM Research and SEIA,\u201d Greentech Media, August 29, 2011.
\n\n\n\n9 \u201cSolar Energy in China: The Past, Present, and Future (ucsd.edu),\u201d Huizhong Tan, China Focus, February 16, 2021.
\n\n\n\n10 \u201cWhen Solar Panels Became Job Killers,\u201d Keith Bradsher, The New York Times, April 8, 2017.
\n\n\n\n11 \u201cWhy America Doesn\u2019t Really Make Solar Panels Anymore,\u201d Robinson Meyer, The Atlantic, June 15, 2022.
\n\n\n\n12 \u201cU.S. Slaps Tariffs on Chinese Solar Panels,\u201d Keith Bradsher and Diane Cardwell, The New York Times, May 17, 2012.
\n\n\n\n13 \u201cU.S. sets new tariffs on Chinese solar imports,\u201d Matt Daily, Reuters, May 17, 2012.
\n\n\n\n14 Understanding Safeguard Investigations, United States International Trade Commission.
\n\n\n\n15 \u201cBiden admin eases Trump-era solar tariffs but doesn’t end them,\u201d Jarrett Renshaw and Nichola Groom, Reuters, February 4, 2022.
\n\n\n\n16 \u201cTo understand why Biden extended tariffs on solar panels, take a closer look at their historical impact,\u201d The Conversation, April 6, 2022.
\n\n\n\n17 The Adverse Impact of Section 201 Tariffs, Solar Energy Industries Association, December 2019.
\n\n\n\n18 \u201cSen. Ossoff Successfully Negotiates Inclusion of Solar Manufacturing Bill in Budget Measure,\u201d October 28, 2021.
\n\n\n\n19 \u201cAmerica COMPETES Act of 2022 authorizes $3 billion for domestic solar manufacturing,\u201d Kelly Pickerel, Solar Power World, January 26, 2022.
\n\n\n\n20 \u201cBiden could prove the Solyndra scandal wasn\u2019t a failure,\u201d Tim McDonnell, Quartz, February 4, 2021.
\n\n\n\n21 \u201cBiden could prove the Solyndra scandal wasn\u2019t a failure,\u201d Tim McDonnell, Quartz, February 4, 2021.
\nThe post Pausing tariffs is good news for US solar appeared first on Greenbacker Capital.
\n", "content_text": "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\u2014countries 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\n\n\n\nA 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\n\n\n\nThis is a step in the right direction, as we absolutely need to encourage solar energy development\u2014while at the same time encouraging US solar panel manufacturing\u2014to 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.\n\n\n\nThe 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\u2019t begin9 manufacturing solar panels until 2002. Yet substantial government incentives allowed China’s solar power market to grow dramatically: The country became the world\u2019s leading producer of solar panels in 2010.10\n\n\n\nThis 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.\n\n\n\nAnd so the tariffs began. The US accused China of providing unfair subsidies, claiming that Chinese companies were dumping solar cells12\u2014selling them at less than the cost to manufacture them\u2014to 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 \u201cserious\u201d injury14 that imports were causing them. This past February, President Biden eased some restrictions, but renewed the Section 20115 tariffs for four more years.\n\n\n\nHowever, tariffs have not historically resulted in increased domestic solar panel production; deterrents to trade abroad don\u2019t make up for lack of investment at home.\n\n\n\nImagine 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.\n\n\n\nIt\u2019s 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.\n\n\n\nIn addition to ending tariffs, we should be offering incentives to encourage manufacturing in the US. Senator Jon Ossoff\u2019s 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\u2019s Loan Programs Office has missed a payment.20 These projects are projected to generate a minimum of $5 billion in interest21 for taxpayers. They\u2019ve already reduced carbon emissions by an amount equivalent to taking 14 coal-fired power plants offline for a year.\n\n\n\nGreenbacker joins the solar industry in expressing relief that the Biden administration has taken action, and we\u2019re thrilled that the pause on tariffs has gotten stalled projects moving again. But these steps should be just the beginning.\n\n\n\nAn 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.\n\n\n\n\n\n\n\n1 \u201cAn Analysis of the Auxin Petition and Commerce Investigation and Their Impact on the Solar Industry,\u201d The National Law Review, March 30, 2022.\n\n\n\n2 \u201cTariff Review Could \u2018Smother\u2019 US Solar Industry, Energy Secretary Warns,\u201d SparkSpread, May 5, 2022.\n\n\n\n3 Solar panel import duties, Norton Rose Fulbright, Project Finance, Keith Martin, February 28, 2022.\n\n\n\n4 \u201cSolar Industry \u2018Frozen\u2019 as Biden Administration Investigates China,\u201d The New York Times, David Gelles, April 29, 2022.\n\n\n\n5 \u201cFACT SHEET: President Biden Takes Bold Executive Action to Spur Domestic Clean Energy Manufacturing,\u201d The White House, June 6, 2022.\n\n\n\n6 APS News, Volume 18, Number 4, April 2009.\n\n\n\n7 \u201cWhy America Doesn\u2019t Really Make Solar Panels Anymore,\u201d Robinson Meyer, The Atlantic, June 15, 2022.\n\n\n\n8 \u201cUS Solar Industry Was Net Global Exporter by $1.9B in 2010, According to GTM Research and SEIA,\u201d Greentech Media, August 29, 2011.\n\n\n\n9 \u201cSolar Energy in China: The Past, Present, and Future (ucsd.edu),\u201d Huizhong Tan, China Focus, February 16, 2021.\n\n\n\n10 \u201cWhen Solar Panels Became Job Killers,\u201d Keith Bradsher, The New York Times, April 8, 2017.\n\n\n\n11 \u201cWhy America Doesn\u2019t Really Make Solar Panels Anymore,\u201d Robinson Meyer, The Atlantic, June 15, 2022.\n\n\n\n12 \u201cU.S. Slaps Tariffs on Chinese Solar Panels,\u201d Keith Bradsher and Diane Cardwell, The New York Times, May 17, 2012.\n\n\n\n13 \u201cU.S. sets new tariffs on Chinese solar imports,\u201d Matt Daily, Reuters, May 17, 2012.\n\n\n\n14 Understanding Safeguard Investigations, United States International Trade Commission.\n\n\n\n15 \u201cBiden admin eases Trump-era solar tariffs but doesn’t end them,\u201d Jarrett Renshaw and Nichola Groom, Reuters, February 4, 2022.\n\n\n\n16 \u201cTo understand why Biden extended tariffs on solar panels, take a closer look at their historical impact,\u201d The Conversation, April 6, 2022.\n\n\n\n17 The Adverse Impact of Section 201 Tariffs, Solar Energy Industries Association, December 2019.\n\n\n\n18 \u201cSen. Ossoff Successfully Negotiates Inclusion of Solar Manufacturing Bill in Budget Measure,\u201d October 28, 2021.\n\n\n\n19 \u201cAmerica COMPETES Act of 2022 authorizes $3 billion for domestic solar manufacturing,\u201d Kelly Pickerel, Solar Power World, January 26, 2022.\n\n\n\n20 \u201cBiden could prove the Solyndra scandal wasn\u2019t a failure,\u201d Tim McDonnell, Quartz, February 4, 2021.\n\n\n\n21 \u201cBiden could prove the Solyndra scandal wasn\u2019t a failure,\u201d Tim McDonnell, Quartz, February 4, 2021.\nThe post Pausing tariffs is good news for US solar appeared first on Greenbacker Capital.", "date_published": "2022-06-15T07:52:18+00:00", "date_modified": "2022-09-01T16:41:49+00:00", "authors": [ { "name": "David Sher", "url": "https://greenbackercapital.com/author/davidsher/", "avatar": "https://secure.gravatar.com/avatar/3cfbdff59a4424c3f356d59427986416?s=512&d=mm&r=g" } ], "author": { "name": "David Sher", "url": "https://greenbackercapital.com/author/davidsher/", "avatar": "https://secure.gravatar.com/avatar/3cfbdff59a4424c3f356d59427986416?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2022/06/Greenbacker-Sitevisit-05-24-22-0355-scaled-e1655226500221.jpg", "tags": [ "Resources", "Investment Insights", "Solar" ], "summary": "David Sher, President of Greenbacker Capital, shares his thoughts on the Biden administration\u2019s solar tariff moratorium, why the US has fallen behind in solar panel manufacturing, and how the country can decrease its vulnerability to solar supply chain disruptions and meet the climate crisis with carbon-free power." }, { "id": "https://greenbackercapital.com/?p=2315", "url": "https://greenbackercapital.com/2021/05/on-our-radar-slave-labor-and-the-solar-panel-supply-chain/", "title": "On our radar: slave labor and the solar panel supply chain", "content_html": "\nInvestors are concerned about the sourcing of solar panel materials in parts of China with documented human rights abuses. Greenbacker COO Matt Murphy looked into our equipment sources and shared his findings.
\n\n\n\n
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\u2019s solar-grade polysilicon, a key material in the manufacture of solar panels (i.e., modules), comes from the Xinjiang region of China, where it\u2019s come to light that serious human rights abuses are being perpetrated\u2014including forced labor in the refining of polysilicon.
It\u2019s Greenbacker\u2019s 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\u2019s impact is something we take immense pride in.
\n\n\n\nIt\u2019s difficult to track the polysilicon used in the building materials of our solar projects, similar to how it\u2019s 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.
\n\n\n\nTypically, 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\u2019 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.
\n\n\n\n![\"\"](\"https://greenbackercapital.com/wp-content/uploads/2021/10/image-8.png\")
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.
\n\n\n\nHowever, until recently, we\u2019ve 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.
\n\n\n\nWe\u2019ve 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\u2019s polysilicon. In response, we\u2019ve 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.
\n\n\n\n
The work we\u2019ve done
We\u2019ve scrutinized every direct solar module purchase Greenbacker has made to date, going as far back as the fourth quarter of 2016.
\n\n\n\nWe\u2019ve 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\u2019ve 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.
\n\n\n\nTo 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\u2019s 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\u2019t source their polysilicon from Xinjiang.
\n\n\n\n
The work we\u2019ll do
We can, however, confirm that our recent purchase of 262 MW worth of solar modules, the largest purchase in our company\u2019s history, has no polysilicon either sourced from Xinjiang or refined using inhumane labor practices.
\n\n\n\nAs 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.
\n\n\n\nAt Greenbacker, we lead by doing. It\u2019s 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\u2019s purchasing power can be used to influence positive change. Labor practices should be decent, inclusive, and sustainable\u2014and human rights must never be disregarded.
\nThe post On our radar: slave labor and the solar panel supply chain appeared first on Greenbacker Capital.
\n", "content_text": "Investors are concerned about the sourcing of solar panel materials in parts of China with documented human rights abuses. Greenbacker COO Matt Murphy looked into our equipment sources and shared his findings.\n\n\n\nThe issue of polysilicon sourcing has grown into a human rights concern, particularly for members of the renewable energy industry. About 45% of the world\u2019s solar-grade polysilicon, a key material in the manufacture of solar panels (i.e., modules), comes from the Xinjiang region of China, where it\u2019s come to light that serious human rights abuses are being perpetrated\u2014including forced labor in the refining of polysilicon.\n\n\n\nIt\u2019s Greenbacker\u2019s 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\u2019s impact is something we take immense pride in.\n\n\n\nIt\u2019s difficult to track the polysilicon used in the building materials of our solar projects, similar to how it\u2019s 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.\n\n\n\nTypically, 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\u2019 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.\n\n\n\n\n\n\n\n\n\n\n\nGreater awareness, redoubled due diligence\n\n\n\nWe 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.\n\n\n\nHowever, until recently, we\u2019ve 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.\n\n\n\nWe\u2019ve 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\u2019s polysilicon. In response, we\u2019ve 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.\n\n\n\nThe work we\u2019ve done\n\n\n\nWe\u2019ve scrutinized every direct solar module purchase Greenbacker has made to date, going as far back as the fourth quarter of 2016.\n\n\n\nWe\u2019ve 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\u2019ve 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.\n\n\n\nTo 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\u2019s 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\u2019t source their polysilicon from Xinjiang.\n\n\n\nThe work we\u2019ll do\n\n\n\nWe can, however, confirm that our recent purchase of 262 MW worth of solar modules, the largest purchase in our company\u2019s history, has no polysilicon either sourced from Xinjiang or refined using inhumane labor practices.\n\n\n\nAs 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.\n\n\n\nAt Greenbacker, we lead by doing. It\u2019s 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\u2019s purchasing power can be used to influence positive change. Labor practices should be decent, inclusive, and sustainable\u2014and human rights must never be disregarded.\nThe post On our radar: slave labor and the solar panel supply chain appeared first on Greenbacker Capital.", "date_published": "2021-05-18T18:48:00+00:00", "date_modified": "2022-09-01T16:42:38+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2021/10/Polysilicon-Sourcing.png", "tags": [ "Investment Insights", "Resources", "Solar" ] }, { "id": "https://greenbackercapital.com/?p=2308", "url": "https://greenbackercapital.com/2021/04/planting-pollinators-restoring-ecosystems-on-solar-sites/", "title": "Planting pollinators: restoring ecosystems on solar sites", "content_html": "\n\n\n\n\n\n\n\n\nGreenbacker’s solar projects do more than just produce clean energy–they also support declining pollinator populations.
\n\n\n\nBeing 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.
\n\n\n\nIn 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\u2014as well as the larger local ecosystem\u2014by planting pollinator-friendly vegetation.
\n\n\n\n
Reestablishing local ecology, supporting native pollinators
We\u2019ve 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.
\n\n\n\nThese 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.
\n\n\n\nThe 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.
\n\n\n\nOnce 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.
\n\n\n\n![\"\"](\"https://greenbackercapital.com/wp-content/uploads/2021/04/Fresh_Energy-ROBIN-6S1A1563-66-1024x683.jpg\")
Planting pollinators at the Catholic Charities solar site in Washington, DC
\n\n\n\n
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.
\n\n\n\nThese 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.
\n\n\n\nIt\u2019s 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.
\n\n\n\nOn solar sites where pollinator-friendly plants won\u2019t 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!).
\n\n\n\n
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\u2019s progress toward environmental sustainability every day of the year.
\n\n\n\nOur pollinator planting initiative is currently in place, or in the pipeline, for 15 projects (representing a renewable energy\u2013generating 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.
\n\n\n\nWe\u2019re 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\u2019re not the only ones: Argonne National Laboratory, the National Renewable Energy Laboratory, and several other research organizations recently launched a joint project to quantify\u2014and create tools to replicate\u2014the 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.
\n\n\n\nThrough 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\u2019s Earth Day.
\n\n\n\n1 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.
\n\n\n\nDisclosure
\n\n\n\nThis 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 (\u201cGreenbacker\u201d) 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 (\u201cPPM\u201d), conducting investigations and consulting the investor\u2019s 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\u2019s 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.
\n\n\n\nGreenbacker 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.
\n\n\n\nGreenbacker Capital Management LLC. 230 Park Ave. Suite 1560, New York, NY 10169
\nThe post Planting pollinators: restoring ecosystems on solar sites appeared first on Greenbacker Capital.
\n", "content_text": "Greenbacker’s solar projects do more than just produce clean energy–they also support declining pollinator populations.\n\n\n\nBeing 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.\n\n\n\nIn 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\u2014as well as the larger local ecosystem\u2014by planting pollinator-friendly vegetation.\n\n\n\nReestablishing local ecology, supporting native pollinators\n\n\n\nWe\u2019ve 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.\n\n\n\nThese 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.\n\n\n\nThe 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.\n\n\n\nOnce 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.\n\n\n\n\n\n\n\nPlanting pollinators at the Catholic Charities solar site in Washington, DC\n\n\n\nSoil stability, carbon benefits, and agricultural advantages\n\n\n\nAlong 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.\n\n\n\nThese 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.\n\n\n\nIt\u2019s 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.\n\n\n\nOn solar sites where pollinator-friendly plants won\u2019t 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!).\n\n\n\nA pipeline of pollinator-friendly sites\n\n\n\nOn April 22, 2021, Greenbacker joins the rest of the planet in celebrating the 51st annual Earth Day, and we remain committed to facilitating society\u2019s progress toward environmental sustainability every day of the year.\n\n\n\nOur pollinator planting initiative is currently in place, or in the pipeline, for 15 projects (representing a renewable energy\u2013generating 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.\n\n\n\nWe\u2019re 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\u2019re not the only ones: Argonne National Laboratory, the National Renewable Energy Laboratory, and several other research organizations recently launched a joint project to quantify\u2014and create tools to replicate\u2014the 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. \n\n\n\nThrough 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\u2019s Earth Day.\n\n\n\n\n\n\n\n\n\n\n\n1 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.\n\n\n\nDisclosure\n\n\n\nThis 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 (\u201cGreenbacker\u201d) 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 (\u201cPPM\u201d), conducting investigations and consulting the investor\u2019s 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\u2019s 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.\n\n\n\nGreenbacker 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.\n\n\n\nGreenbacker Capital Management LLC. 230 Park Ave. Suite 1560, New York, NY 10169\nThe post Planting pollinators: restoring ecosystems on solar sites appeared first on Greenbacker Capital.", "date_published": "2021-04-22T18:34:00+00:00", "date_modified": "2022-09-01T16:43:32+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2021/10/Fresh_Energy-ROBIN-6S1A1563-66-1024x683-1.jpeg", "tags": [ "Resources", "Investment Insights", "Solar" ], "summary": "Greenbacker\u2019s solar projects do more than just produce clean energy\u2014they also support declining pollinator populations." }, { "id": "https://greenbackercapital.com/?p=2103", "url": "https://greenbackercapital.com/2021/03/award-winning-61-mwdc-turquoise-solar-project-in-nevada-reaches-commercial-operation/", "title": "Award-Winning 61 MWdc Turquoise Solar Project in Nevada Reaches Commercial Operation", "content_html": "\nNew solar facility provides clean energy to Apple\u2019s Nevada data center, located in the Reno Technology Park
\n\n\n\nLas Vegas, NV, March 17, 2021 —\u00a0McCarthy Building Companies\u2019 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\u2014a 2,200-acre master planned industrial park shared between Apple and Turquoise Solar, who own approximately 1,600 and 600 acres, respectively.
\n\n\n\nWithin the Park, the Turquoise Solar Project is owned by Greenbacker Renewable Energy Company (\u201cGREC\u201d), a utility-scale renewable energy development company. Upon completion, the project became the largest operating solar project in GREC\u2019s portfolio. The project was also recently awarded \u201cUtility-Scale Project of the Year\u201d in Solar Builder\u2019s 2020 Project of the Year awards.
\n\n\n\n\u201cTurquoise 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,\u201d said Charles Wheeler, CEO of GREC. \u201cCompleting it has been a huge accomplishment and is the product of a tremendous collaborative effort between the parties involved. We\u2019re 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\u2019ve achieved thanks to projects like Turquoise.
\n\n\n\nThe 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\u2019s ability to keep the inverters at near-100% availability to generate clean power for Apple\u2019s data center. Cypress Creek Renewables provides operations and maintenance for the project.
\n\n\n\n![\"\"](\"https://greenbackercapital.com/wp-content/uploads/2021/03/Apple_green-bonds-create-clean-power_team-member-working_031721-1024x668.jpg\")
Apple is proud that for nearly three years we\u2019ve 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\u2019re excited to have the Turquoise Solar Project bringing new renewable energy to Nevada.\u201d
\n\n\n\nThe project, originally developed by Estuary Capital Partners and Sumitomo Corporation of Americas, was acquired by GREC in 2019. \u201cEstuary first envisioned the Turquoise Solar project back in 2013,\u201d said Jill Daniel, president of Estuary. \u201cPreviously, the site had been intended for natural gas-fired power generation. Estuary considered the site better suited to solar, especially given Apple\u2019s 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\u2019re proud of our contribution to making it a reality.\u201d
\n\n\n\n![\"\"](\"https://greenbackercapital.com/wp-content/uploads/2021/03/Apple_green-bonds-create-clean-power_data-center_031721-1024x670.jpg\")
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.
\n\n\n\nMuch of the Turquoise Solar Project is located on rocky desert terrain with slopes ranging from 10% \u2013 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\u2019s 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\u2019s 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.
\n\n\n\n\u201cThanks 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,\u201d said Scott Canada, senior vice president of McCarthy\u2019s Renewable Energy Group. \u201cWe 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\u2019s data center.\u201d
\n\n\n\nOver the past decade, McCarthy\u2019s 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.
\n\n\n\n\u201cTerraSmart 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,\u201d says TerraSmart CEO Ryan Reid. \u201cInitially, Turquoise presented many challenges to installers who said the land conditions couldn\u2019t be penetrated. However, the site\u2019s topography and subsurface conditions were nothing new to TerraSmart. Known to forge into the toughest of soil conditions, TerraSmart\u2019s refined engineered products, agile machinery, and adjustable racking solution enabled a successful install on the mountainous Nevada base\u2019s 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.\u201d
\nThe post Award-Winning 61 MWdc Turquoise Solar Project in Nevada Reaches Commercial Operation appeared first on Greenbacker Capital.
\n", "content_text": "New solar facility provides clean energy to Apple\u2019s Nevada data center, located in the Reno Technology Park\n\n\n\nLas Vegas, NV, March 17, 2021 —\u00a0McCarthy Building Companies\u2019 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\u2014a 2,200-acre master planned industrial park shared between Apple and Turquoise Solar, who own approximately 1,600 and 600 acres, respectively.\n\n\n\nWithin the Park, the Turquoise Solar Project is owned by Greenbacker Renewable Energy Company (\u201cGREC\u201d), a utility-scale renewable energy development company. Upon completion, the project became the largest operating solar project in GREC\u2019s portfolio. The project was also recently awarded \u201cUtility-Scale Project of the Year\u201d in Solar Builder\u2019s 2020 Project of the Year awards.\n\n\n\n\u201cTurquoise 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,\u201d said Charles Wheeler, CEO of GREC. \u201cCompleting it has been a huge accomplishment and is the product of a tremendous collaborative effort between the parties involved. We\u2019re 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\u2019ve achieved thanks to projects like Turquoise.\n\n\n\nThe 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\u2019s ability to keep the inverters at near-100% availability to generate clean power for Apple\u2019s data center. Cypress Creek Renewables provides operations and maintenance for the project.\n\n\n\nCypress Creek Renewables crew member on routine maintenance at Turquoise Solar.\n\n\n\nApple is proud that for nearly three years we\u2019ve 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\u2019re excited to have the Turquoise Solar Project bringing new renewable energy to Nevada.\u201d\n\n\n\nThe project, originally developed by Estuary Capital Partners and Sumitomo Corporation of Americas, was acquired by GREC in 2019. \u201cEstuary first envisioned the Turquoise Solar project back in 2013,\u201d said Jill Daniel, president of Estuary. \u201cPreviously, the site had been intended for natural gas-fired power generation. Estuary considered the site better suited to solar, especially given Apple\u2019s 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\u2019re proud of our contribution to making it a reality.\u201d\n\n\n\nApple\u2019s Reno data center, opened in 2012, takes advantage of the mild climate by cooling its servers with outside air whenever possible.\n\n\n\nConstruction 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.\n\n\n\nMuch of the Turquoise Solar Project is located on rocky desert terrain with slopes ranging from 10% \u2013 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\u2019s 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\u2019s 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.\n\n\n\n\u201cThanks 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,\u201d said Scott Canada, senior vice president of McCarthy\u2019s Renewable Energy Group. \u201cWe 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\u2019s data center.\u201d\n\n\n\nOver the past decade, McCarthy\u2019s 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.\n\n\n\n\u201cTerraSmart 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,\u201d says TerraSmart CEO Ryan Reid. \u201cInitially, Turquoise presented many challenges to installers who said the land conditions couldn\u2019t be penetrated. However, the site\u2019s topography and subsurface conditions were nothing new to TerraSmart. Known to forge into the toughest of soil conditions, TerraSmart\u2019s refined engineered products, agile machinery, and adjustable racking solution enabled a successful install on the mountainous Nevada base\u2019s 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.\u201d\nThe post Award-Winning 61 MWdc Turquoise Solar Project in Nevada Reaches Commercial Operation appeared first on Greenbacker Capital.", "date_published": "2021-03-17T13:01:34+00:00", "date_modified": "2022-10-27T15:55:50+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "image": "https://greenbackercapital.com/wp-content/uploads/2021/03/Apple_green-bonds-create-clean-power_031721-scaled.jpg", "tags": [ "Nevada", "GREC", "Press", "Solar" ], "summary": "New solar facility provides clean energy to Apple\u2019s Nevada data center, located in the Reno Technology Park." }, { "id": "https://greenbackercapital.com/?p=1283", "url": "https://greenbackercapital.com/2020/12/greenbacker-renewable-energy-company-llc-acquires-solar-project-totaling-104-mwdc/", "title": "Greenbacker Acquires Solar Project Totaling 104 MWdc", "content_html": "\nGreenbacker Renewable Energy Company LLC (\u201cGREC\u201d) announced today that, through a wholly-owned subsidiary, it purchased a 80 MWac /104 MWdc pre-operational solar project from rPlus Energies LLC (\u201crPlus\u201d).
\n\n\n\nThe project, Graphite Solar I LLC, is located in Carbon County, Utah and has a long-term Power Purchase Agreement (\u201cPPA\u201d) in place with the utility PacifiCorp on behalf of Facebook. The contract was developed under Rocky Mountain Power\u2019s Schedule 34 green energy tariff, which allows large customers to purchase renewable energy generated on their behalf. The project supports Facebook\u2019s goal of 100% renewable energy for its operations and is expected to reach commercial operations (\u201cCOD\u201d) in Q4 2021.
\n\n\n\n\u201cGraphite Solar, now our largest solar acquisition to date, is indicative of growing scale within our portfolio.\u201d said Charles Wheeler, CEO of Greenbacker. \u201cLarge 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.\u201d
\n\n\n\n\u201cWe look forward to working with Greenbacker to help PacifiCorp and Facebook tap the excellent solar capacity available in Utah,\u201d said Luigi Resta, CEO, rPlus Energies. \u201cAnd 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\u2019s aging energy infrastructure, the sale of this project will allow rPlus to continue to advance renewable energy projects in communities across the United States.\u201d
\n\n\n\nWith 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.
\n\n\n\n
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\u00a0www.greenbacker.com.
\n\n\n\nAbout rPlus Energies
\n\n\n\nrPlus Energies develops modern power plants to contribute to the rebuilding of America\u2019s energy infrastructure. Through partnership with the private sector, municipalities, and utilities, rPlus develops utility-scale power plants to access a region\u2019s 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
\n\n\n\nForward-Looking Statements
\n\n\n\nThis 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.
\nThe post Greenbacker Acquires Solar Project Totaling 104 MWdc appeared first on Greenbacker Capital.
\n", "content_text": "Greenbacker Renewable Energy Company LLC (\u201cGREC\u201d) announced today that, through a wholly-owned subsidiary, it purchased a 80 MWac /104 MWdc pre-operational solar project from rPlus Energies LLC (\u201crPlus\u201d).\n\n\n\nThe project, Graphite Solar I LLC, is located in Carbon County, Utah and has a long-term Power Purchase Agreement (\u201cPPA\u201d) in place with the utility PacifiCorp on behalf of Facebook. The contract was developed under Rocky Mountain Power\u2019s Schedule 34 green energy tariff, which allows large customers to purchase renewable energy generated on their behalf. The project supports Facebook\u2019s goal of 100% renewable energy for its operations and is expected to reach commercial operations (\u201cCOD\u201d) in Q4 2021.\n\n\n\n\u201cGraphite Solar, now our largest solar acquisition to date, is indicative of growing scale within our portfolio.\u201d said Charles Wheeler, CEO of Greenbacker. \u201cLarge 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.\u201d\n\n\n\n \u201cWe look forward to working with Greenbacker to help PacifiCorp and Facebook tap the excellent solar capacity available in Utah,\u201d said Luigi Resta, CEO, rPlus Energies. \u201cAnd 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\u2019s aging energy infrastructure, the sale of this project will allow rPlus to continue to advance renewable energy projects in communities across the United States.\u201d\n\n\n\nWith 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.\n\n\n\nAbout Greenbacker Renewable Energy Company\n\n\n\nGreenbacker 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\u00a0www.greenbacker.com.\n\n\n\nAbout rPlus Energies\n\n\n\nrPlus Energies develops modern power plants to contribute to the rebuilding of America\u2019s energy infrastructure. Through partnership with the private sector, municipalities, and utilities, rPlus develops utility-scale power plants to access a region\u2019s 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\n\n\n\nForward-Looking Statements\n\n\n\nThis 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.\nThe post Greenbacker Acquires Solar Project Totaling 104 MWdc appeared first on Greenbacker Capital.", "date_published": "2020-12-21T00:53:00+00:00", "date_modified": "2022-07-27T20:46:48+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "tags": [ "Utah", "GREC", "Press", "Solar" ] }, { "id": "https://greenbackercapital.com/?p=1309", "url": "https://greenbackercapital.com/2020/12/pollinator-friendly-solar-projects-move-forward-with-new-initiative-led-by-encore-renewable-energy-and-greenbacker-capital/", "title": "Pollinator-Friendly Solar Projects Move Forward with New Initiative Led by Encore Renewable Energy and Greenbacker Capital", "content_html": "\nEncore Renewable Energy and Greenbacker Capital announced a new agreement for the completion of 14 solar projects aggregating to 28MW of capacity with pollinator-friendly ground cover. This initiative builds on the recently announced partnership and offers a unique opportunity to provide over 200 acres of habitat necessary for increasing the populations of pollinators such as bees and monarch butterflies. These important species, critical to the health of our future food supply, are declining from widespread insecticide and herbicide use in addition to habitat loss from climate change and land development activities. These new pollinator-friendly solar sites will support diverse and healthy pollinator populations with a diverse mix of native grasses and flowering plants.
\n\n\n\n\u201cThis agreement is the perfect example of a successful triple bottom line endeavor.\u201d said Chad Farrell, Founder and CEO of Encore Renewable Energy. \u201cWe 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.\u201d
\n\n\n\n\u201cGreenbacker is excited to partner with Encore to roll out pollinator friendly vegetation at our sites,\u201d said Matt Murphy, COO of Greenbacker Capital. \u201cWhen 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.\u201c
\n\n\n\nThe 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.
\n\n\n\n\u201cIt\u2019s exciting to see influential leading companies like Encore and Greenbacker embracing innovation and making productive use of the land under and around solar farms\u2014particularly in a pair of states where farmers tend more than 110,000 acres of berries, orchards, and vegetables,\u201d said Rob Davis, director of the Center for Pollinators in Energy at nonprofit Fresh Energy.
\n\n\n\nScientists predict farmers and other landowners will lease more than 2 million acres of land for photovoltaic solar projects by 2030\u2014an 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 \u201clow-impact\u201d 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 \u201csheep hours\u201d while rotationally grazing solar farms.
\nThe post Pollinator-Friendly Solar Projects Move Forward with New Initiative Led by Encore Renewable Energy and Greenbacker Capital appeared first on Greenbacker Capital.
\n", "content_text": "Encore Renewable Energy and Greenbacker Capital announced a new agreement for the completion of 14 solar projects aggregating to 28MW of capacity with pollinator-friendly ground cover. This initiative builds on the recently announced partnership and offers a unique opportunity to provide over 200 acres of habitat necessary for increasing the populations of pollinators such as bees and monarch butterflies. These important species, critical to the health of our future food supply, are declining from widespread insecticide and herbicide use in addition to habitat loss from climate change and land development activities. These new pollinator-friendly solar sites will support diverse and healthy pollinator populations with a diverse mix of native grasses and flowering plants. \n\n\n\n\u201cThis agreement is the perfect example of a successful triple bottom line endeavor.\u201d said Chad Farrell, Founder and CEO of Encore Renewable Energy. \u201cWe 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.\u201d\n\n\n\n\u201cGreenbacker is excited to partner with Encore to roll out pollinator friendly vegetation at our sites,\u201d said Matt Murphy, COO of Greenbacker Capital. \u201cWhen 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.\u201c\n\n\n\nThe 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.\n\n\n\n\u201cIt\u2019s exciting to see influential leading companies like Encore and Greenbacker embracing innovation and making productive use of the land under and around solar farms\u2014particularly in a pair of states where farmers tend more than 110,000 acres of berries, orchards, and vegetables,\u201d said Rob Davis, director of the Center for Pollinators in Energy at nonprofit Fresh Energy.\n\n\n\nScientists predict farmers and other landowners will lease more than 2 million acres of land for photovoltaic solar projects by 2030\u2014an 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 \u201clow-impact\u201d 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 \u201csheep hours\u201d while rotationally grazing solar farms.\nThe post Pollinator-Friendly Solar Projects Move Forward with New Initiative Led by Encore Renewable Energy and Greenbacker Capital appeared first on Greenbacker Capital.", "date_published": "2020-12-07T01:46:00+00:00", "date_modified": "2022-10-27T16:04:05+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "tags": [ "GREC", "Solar" ] }, { "id": "https://greenbackercapital.com/?p=1318", "url": "https://greenbackercapital.com/2020/11/greenbacker-renewable-energy-company-llc-acquires-solar-portfolio-totaling-80-mw/", "title": "Greenbacker Renewable Energy Company LLC Acquires Solar Project Totaling 80 MW", "content_html": "\nGreenbacker Renewable Energy Company LLC (\u201cGREC\u201d) announced today that, through a wholly-owned subsidiary, it purchased a to-be-constructed 80 MW solar project from Broad Reach Power LLC. The project, Fall River Solar, is located in Fall River County, South Dakota and has a 20-year Power Purchase Agreement (\u201cPPA\u201d) in place with the investment-grade utility Black Hills Power, Inc. (\u201cBHP\u201d). Greenbacker will oversee the construction which is expected to reach COD in Q4 2022.
\n\n\n\n\u201cWe\u2019re excited to have worked with Broad Reach Power on our largest solar project to date.\u201d said Charles Wheeler, CEO of Greenbacker. \u201cExpanding 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.\u201d
\n\n\n\n\u201cWe also enjoyed our collaboration with the Greenbacker team and look forward to seeing this project continue to advance,\u201d added Broad Reach Power Managing Partner and Chief Executive Officer Steve Vavrik.
\n\n\n\nWith 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.
\n\n\n\nAbout Greenbacker Renewable Energy Company
\n\n\n\nGreenbacker 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.
\n\n\n\nAbout Broad Reach Power
\n\n\n\nBroad 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.
\n\n\n\nForward-Looking Statements
\n\n\n\nThis 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.
\nThe post Greenbacker Renewable Energy Company LLC Acquires Solar Project Totaling 80 MW appeared first on Greenbacker Capital.
\n", "content_text": "Greenbacker Renewable Energy Company LLC (\u201cGREC\u201d) announced today that, through a wholly-owned subsidiary, it purchased a to-be-constructed 80 MW solar project from Broad Reach Power LLC. The project, Fall River Solar, is located in Fall River County, South Dakota and has a 20-year Power Purchase Agreement (\u201cPPA\u201d) in place with the investment-grade utility Black Hills Power, Inc. (\u201cBHP\u201d). Greenbacker will oversee the construction which is expected to reach COD in Q4 2022.\n\n\n\n\u201cWe\u2019re excited to have worked with Broad Reach Power on our largest solar project to date.\u201d said Charles Wheeler, CEO of Greenbacker. \u201cExpanding 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.\u201d\n\n\n\n\u201cWe also enjoyed our collaboration with the Greenbacker team and look forward to seeing this project continue to advance,\u201d added Broad Reach Power Managing Partner and Chief Executive Officer Steve Vavrik.\n\n\n\nWith 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.\n\n\n\n\n\n\n\nAbout Greenbacker Renewable Energy Company\n\n\n\nGreenbacker 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.\n\n\n\nAbout Broad Reach Power\n\n\n\nBroad 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. \n\n\n\nForward-Looking Statements\n\n\n\nThis 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.\nThe post Greenbacker Renewable Energy Company LLC Acquires Solar Project Totaling 80 MW appeared first on Greenbacker Capital.", "date_published": "2020-11-16T02:08:00+00:00", "date_modified": "2022-08-12T16:54:50+00:00", "authors": [ { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" } ], "author": { "name": "GCM", "url": "https://greenbackercapital.com/author/chris-larsongreenbackercapital-com/", "avatar": "https://secure.gravatar.com/avatar/4c3ca5eedec27f29c7289294aef1d410?s=512&d=mm&r=g" }, "tags": [ "South Dakota", "GREC", "Press", "Solar" ] } ] }