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Standard Solar Celebrates Accomplishments in 2022 and Charges into 2023 on Wave of Success

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Press release content from Business Wire. The AP news staff was not involved in its creation.
December 19, 2022 GMT

ROCKVILLE, Md.--(BUSINESS WIRE)--Dec 19, 2022--

Savvy business decisions, operational integrity at every level, partnerships with like-minded companies and favorable federal and state-level policies helped Standard Solar experience another year of landmark accomplishments in 2022.

“We are well-positioned for accelerated growth in 2023 thanks to the momentum generated by our success in 2022,” said Scott Wiater, CEO and president of Standard Solar. “We will not rest on our laurels, though. We’ll strive to be an even stronger leader in the industry by tirelessly working to transition the country to clean energy and providing affordable, cleaner electricity to people throughout the United States.”

Highlights in 2022 included:

Finalizes Acquisition by Brookfield Renewable to Ensure Expansion

In September, Standard Solar was acquired by Brookfield Renewable, one of the world’s largest publicly traded, pure-play renewable power platforms with a generating ability of nearly 24,000 megawatts (MW). The acquisition, which allows Standard Solar to operate independently, gives the solar company freedom to grow its workforce and projects thanks to Brookfield Renewable’s access to large-scale capital and expansive supply chain, and deep industry experience and expertise.

Growth at Every Level in 2022

Standard Solar is over 120 people strong and counting. In 2022, the company added a wide variety of positions to its dynamic and diverse team, from technicians to senior-level executives, due to the increasing demand for solar energy. Hiring remains ongoing, and the company expects to increase its workforce in 2023.

Rapidly Expanding Portfolio, Extends into New Market

Standard Solar continued to expand its national footprint with projects in the more than 20 states where they already have a presence, 280 MW in long-term asset ownership and more than 200 successful projects. The company further added to its ownership portfolio in a new state, Idaho, by acquiring a 28.5 MW fully functional commercial array in Mountain Home, one of the largest acquisitions for the company to date. Standard Solar contracted over 100 MWs in 2022 and has a robust development pipeline and a strong team to execute on significant growth opportunities across several high-value solar markets in the U.S. in years to come.

High Rankings on Solar Power World Lists

Among industry rankings in 2022, Standard Solar earned the number 3 commercial contractor spot on Solar Power World’s annual Top Solar Developers list and the number 37 spot out of 411 solar companies on the Top Solar Contractors list. Part of the criteria for placement is kilowatts installed in the previous year; Standard Solar installed 134,746.45 kW in 2021. Solar Power World is regarded as a premier media outlet for the U.S. solar market.

Inflation Reduction Act (IRA) Reinforces Renewables

Signed into law by President Biden in August, the IRA is intended to bolster the renewable energy industry with substantial tax breaks and incentives as the industry leads the country in the transition to clean energy. Solar and other renewable energy companies, underserved communities, homeowners, consumers and the environment stand to benefit from the IRA. Standard Solar is in a good position to receive tax breaks for projects underway and in the pipeline.

Portfolio Achieved High Rankings by Wood Mackenzie

In 2022, Standard Solar was ranked as the fifth largest portfolio owner of commercial solar by Wood Mackenzie, one of the world’s leading research and consultancy firms for the energy, chemicals, metals and mining industries.

Earns Great Place to Work Certification

Knowing a healthy company environment yields the best results, Standard Solar asked Great Place to Work, a global authority on workplace culture since 1992, to survey its employees. The majority of Standard Solar employees (87 percent) rated the company as a great place to work, compared to just 57 percent of employees at a typical U.S. company. In the survey, employees ranked Standard Solar high — 94 percent and higher — for responsibility assigned, management integrity, professionalism, care for others and reasons for telling others they’re proud to work at Standard Solar.

Diversity, Equity, Inclusion and Justice Efforts Receive Bronze from SEIA

Standard Solar was also awarded Bronze Certification by the Solar Energy Industries Association for its work on diversity, equity, inclusion and justice (DEIJ) in the workplace. The DEIJ Certification Program Company allows SEIA members to showcase their DEIJ progress and rewards their performance in various programs, training and resource development. Company leadership recognizes that diversity at every level needs to be a part of the organization to have an impact.

A Variety of Key Projects Through Collaboration are Completed

In conjunction with partners, Standard Solar completed and acquired a solar + storage project for the Acton Water District in Massachusetts. The system is an innovative 4.69-megawatt (MW) solar and 4-megawatt hour (MWh) storage project, which helps customers minimize their reliance on non-renewable sourced energy during evening hours.

In the spring, Standard Solar, along with partners, completed an 11.52 MW solar project that serves members of the Tri-County Energy Consortium, which includes 28 New York municipalities and school districts in Jefferson, Lewis and St. Lawrence counties. Members of the consortium are anticipated to save between $400,000 and $500,000 annually on energy costs.

In the summer, Standard Solar completed a multi-pronged project for The Center School, which serves the needs of special education students in New Jersey, consisting of roof restoration with a solar installation on its rooftop, a newly paved parking lot and a solar carport. Because the school’s budget was limited, Standard Solar covered much of the cost through the Power Purchase Agreement (PPA). The 611-kilowatt rooftop and carport array are expected to save the school $30,000 annually.

Standard Solar and partners completed a 7.1 MW single track axis array in York, NY, in the fall. Dedicated to Thomas Guzek, renewable energy advocate and founder of SolarPark Energy, the community solar farm will benefit hundreds of residents in the area.

Standard Solar completed its first community solar project in Oregon in December. The project, in Clackamas County, generates 3.6 million kilowatt hours annually for residents and large, iconic corporations including Microsoft, Nike and others. With Oregon mandating that 50 percent of its electricity comes from renewable sources by 2040, Standard Solar has more projects in the pipeline for the state.

Also completed in the fall was the 17th of 20 solar sites on the campus of Colorado State University. The project, which totals 4.25 MW at present, will help the university reach its goal of meeting its electrical needs with 100 percent renewable energy by 2030 and becoming carbon neutral by 2040.

“Smart business decisions, valuing each and every one of our employees and collaborating with the right partners contributed to another banner year for Standard Solar,” Wiater said. “What we’ve accomplished in 2022 has become part of our playbook, which we’ll use to expand on our success in the future.”

About Standard Solar

Standard Solar, a Brookfield Renewable company, is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 18 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 300 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.

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CONTACT: PR:

Leah Wilkinson

Wilkinson + Associates

703-907-0010

leah@wilkinson.associates

KEYWORD: MARYLAND UNITED STATES NORTH AMERICA

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SOURCE: Standard Solar

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PUB: 12/19/2022 08:38 AM/DISC: 12/19/2022 08:38 AM

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