SinglePoint Inc.’s The Boston Solar Co. LLC subsidiary has acquired Ecodaptive Inc. Ecodaptive, a clear energy firm offering monetary structuring options to broaden the adoption of unpolluted energy tasks, will assist Boston Solar’s rising industrial division.
Ecodaptive is at the moment centered on creating the SunRAYS Energy Program in Massachusetts, which allows historically underserved buyer segments to go solar via a roof lease construction.
The SunRAYS Program was developed to broaden entry to rooftop solar technology alternatives. Enabling broader communities to take part will lead to better penetration of rooftop solar and speed up the transition to a low-carbon energy future. The program instantly improves the livelihoods of contributors via long-term site-lease funds.
The SunRAYS program focuses on offering electrical energy from distributed rooftop solar to a broader constituency than conventional distributed technology enterprise fashions. As a results of increasing renewable energy, air emissions and related water administration points associated to conventional fossil-fuel-derived electrical energy are mitigated.
“The opportunity with Ecodaptive could prove itself to be a significant competitive advantage as well as a company changing event,” says Wil Ralston, CEO of SinglePoint. “There is a framework $100 million asset finance facility enabling Boston Solar and Ecodaptive to scale a successful SunRAYS pilot program. The Ecodaptive Team has years of successful experience in solar finance, and we look forward to leveraging their expertise as we push forward.”
“An exciting aspect of the program is that building owner financial constraints are essentially removed, enabling any qualifying residential or commercial sites to go solar without having to consider any out of pocket expenses and will actually be compensated through an upfront payment at the start of installation as well as through ongoing lease payments,” continues Ralston.
The SunRAYS Program makes an attempt to beat one of many main dangers of solar integration by finding the solar technology sources nearer to the sources of electrical energy demand in order to not require high-voltage interconnections nor long-distance power transmission. The SunRAYS Program makes use of native residential and industrial rooftops to host solar tasks, interconnecting to the distribution grid at decrease voltages and general power ranges than could be thought-about for utility-scale tasks.
The SunRAYS Program makes use of current under-utilized constructing inventory. There is not any further land required to host tasks in this system. Owners of small industrial, multi-family housing models and single-family residential buildings enter right into a site-lease settlement via which they obtain ongoing rental funds in trade for internet hosting a number of solar PV tasks that feed their output instantly into the electrical energy grid.
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