The Altus Pulse

Keep your finger on the pulse with sustainability news, insights, and more from the Altus Power team.

Altus News

Power-ful News! Altus Power Hits 1 Gigawatt of Solar Energy

Watt’s new at Altus Power? We’re celebrating a big achievement over here: Altus’s nationwide portfolio of assets has topped 1 gigawatt of solar energy.

Community Solar

Altus Power’s Groundbreaking Hawaii Array Hits Its 1-Year “Solarversary”

Community Solar

You Don’t Have to be a Homeowner to Get the Benefits of Solar

Community Solar

I Live in a Townhome — Do I Qualify for Community Solar?

Industry Analysis

Solar Power Is Growing Exponentially

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Industry Analysis

How AI and Its Capabilities Are Impacting Investing in Energy

Large data centers that are running bigger and bigger models are requiring more and more power, which requires more servers and more data centers. This has resulted in an increased demand for energy and water. Most enterprises can’t get enough power from local utilities to support the demand. The capabilities of locally-sited clean energy systems such as Altus Power’s can help take some of that load off that grid.

Large data centers that are running bigger and bigger models are requiring more and more power. This demand on computer power requires more servers and more data centers, resulting in an increased demand for energy and water. Most enterprises can’t get enough power from their local utilities to support their demand for 24-7 base load power. This increased demand and the aging grid systems throughout the country are causing AI service providers and their surrounding communities to look for alternative sources of energy.

The capabilities of locally-sited clean energy systems such as Altus Power’s can help take some of that load off that grid.

Altus Power develops distributed generation systems that supply power directly to the enterprises and communities where that power is needed, solving the transmission issues faced by other alternative energy sources such as wind and nuclear. Given this need for more reliable power, we believe there is tremendous opportunity for all sources of energy, from traditional energy sources, to solar and wind to hydrogen, natural gas and nuclear.

Altus Power is the nation’s largest owner and operator of on-site commercial scale solar generation systems, and this leadership position enables us to take an environmentally-focused approach to how we run our business. As companies are transitioning towards a low carbon footprint, we are well equipped to take on the challenges of managing climate risk and working with our customers to help them strategize to achieve their decarbonization goals.

We are a community conscience company and aim to engage our community in positive ways. We understand that we win together and that expanding our talent pool makes Altus Power a stronger company better equipped to make decisions which benefit the community around us. We have developed various employee programs and policies to support diversity, equity and inclusion at our company. We are focused on the health and safety of our workforce, employees and contractors, and have implemented trainings, safety tools and work conditions that promote employee and contractor well-being.

Our team at Altus Power is on a mission to lead the transition to clean energy, to provide clean energy to businesses of all sizes from coast to coast. During 2023, we generated over 780,000 megawatt hours of clean energy, which is equivalent to avoiding almost 550,000 metric tons of CO2 equivalents when compared to utility power. Altus Power aims to deliver value to its partners and customers during the transition to a low carbon economy while minimizing our own carbon footprint. In addition, our increasing portfolio of community solar customers advances environmental justice by allowing low- and moderate-income customers, homeowners and renters alike, access to the benefits of clean electricity from our assets.

Altus Power is here to support all of our customers and their increasing demands for power.

To learn more about how we are building a successful and sustainable business, please see our 2023 Sustainability Report.

Sophia Lee, Chief Sustainability Officer

November 15, 2024

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Industry Analysis

Solar Is “Leading the Energy Revolution,” Ember Analysis Shows

Fossil fuels are on their way out, while solar energy and other renewables are literally rising in power. Ember’s fifth annual Global Electricity Review offers a sunny outlook for renewable energy — and solar in particular — showing, for example, that renewables generated a record 30% of global electricity in 2023, up from 19% in 2000. Solar and wind are driving that increase, rising from 0.2% of global electricity in 2000 to a record 13.4% in 2023.

The study, released this May, offers insights from an analysis of electricity data from 215 countries, including 2023 data for 80 countries representing 92% of global electricity demand.

And authors Małgorzata Wiatros-Motyka, Nicolas Fulghum, and Dave Jones concluded that solar “is leading the energy revolution,” standing as the fastest-growing source of electricity generation for the 19th year in a row. Plus, solar has breezed past wind to become the largest source of new electricity for the second consecutive year — adding twice as much electricity in 2023 as coal did, for example. Solar generation grew 23% in 2023, compared to 10% for wind generation and 0.8% for fossil fuel generation.

All told, solar produced a record 5.5% of global electricity in 2023 — that’s 1,631 terawatt hours — and 33 countries got more than a tenth of their electricity from solar during that year. And the authors projected that a record surge of installations at the end of 2023 set up 2024 for an even bigger increase in solar generation. They noted that solar and wind isn’t just slowing emissions growth in the power sector — with power sector emissions in OECD countries falling 28% from their 2007 peak — but actually pushing fossil fuel generation into decline.

“The renewables future has arrived. Solar in particular is accelerating faster than anyone thought possible,” Jones, Ember’s Global Insights Programme Director, said in the report. “The decline of power sector emissions is now inevitable. 2023 was likely the pivot point—peak emissions in the power sector — a major turning point in the history of energy.”

Plus, countries that position themselves at the front edge of the energy revolution have an “unprecedented opportunity,” Jones explained. “Expanding clean electricity not only helps to decarbonize the power sector. It also provides the step-up in supply needed to electrify the whole economy, and that’s the real game-changer for the climate.”

Ember offered even more good news this September. Even after record growth in 2023, the world is on track to install 29% more solar capacity in 2024, year over year, with 593 gigawatts of new solar installations, the think tank reported. Italy, the United States, India, Turkey, and Portugal’s solar installation growth has been even higher than the world average between January and July 2024, Ember adds, with Portugal showing a 2.29x year-over-year change.

Reporting on that September data, The Atlantic observed that inexpensive solar panels are changing the world — as an energy technology that’s faster to build and easier to build and adaptable at any scale. As The Atlantic noted, the International Energy Agency (IEA) expects solar will surpass all other forms of energy by 2033. “This is unstoppable,” Heymi Bahar, senior energy analyst at IEA, told the magazine.

Kingsmill Bond, a senior energy strategist at the decarbonized-energy nonprofit RMI, pointed out to The Atlantic that solar is “providing as much new electricity as the entirety of global growth the year before” and that analysts “did not imagine in their wildest dreams that solar by the middle of the 2020s would already be supplying all of the growth of global electricity demand.”

Bond added, “The really interesting debate now is actually: When do we push fossil fuels off the plateau? And from our numbers, if solar keeps on growing this way, it’s going to be off the plateau by the end of this decade.”

‍The Economist illustrated solar power’s exponential growth in an essay this summer, explaining that installed solar capacity doubles about every three years and grows tenfold every decade. “The next tenfold increase will be equivalent to multiplying the world’s entire fleet of nuclear reactors by eight in less than the time it typically takes to build just a single one of them,” the magazine declared.

Meanwhile, the cost of solar continues to drop. In a recent report, RMI touted that solar, already cheapest-ever form of electricity, will cost roughly half as much in 2030 as it does now, falling from $40/megawatt-hour to $20/megawatt-hour.

“Exponential growth of clean energy is an unstoppable force that will put more spending power in the pockets of consumers,” Bond said in that report.

And speaking of putting more spending power in the pockets of consumers, Altus Power’s Community Solar program enables subscribers to support clean energy while reducing their monthly utility bill, all without the need for equipment installed at their homes. To learn more about Community Solar and to apply to the program, visit join.altuspower.com.

The Altus Power Team

November 7, 2024

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Community Solar

New York Hits 6 GW Solar Milestone 1 Year Early

Start spreading the news — New York is celebrating a sunny achievement! The Empire State has installed 6 gigawatts (GW) of distributed solar so far, hitting its Climate Leadership & Community Protection Act statutory goal one year ahead of schedule.

In a press release about the achievement, Governor Kathy Hochul said hitting that goal brings the state “one step closer to a reliable and resilient zero-emission grid,” adding that distributed solar is “at the heart of reducing greenhouse gas emissions, expanding the availability of renewable energy, and delivering substantial benefits for our health, our environment, and our economy.”

By hitting that 6-GW target — with support from the state’s $3.3 billion NY Sun initiative — New York now has enough distributed solar to power more than a million homes and businesses. That goal has also generated approximately $9.2 billion in private investment across New York, and the state’s solar projects have created more than 14,000 solar jobs.

And we’re proud to say Altus Power has been a part of that achievement. In July 2023, Altus completed the construction of a 4.8 megawatt (MW) ground-mounted solar array in Cayuga County, New York. And that September, Altus announced a new 2.7 megawatt solar array project located on the parking canopies at Morgan Stanley Wealth Management’s campus in Purchase, New York. That project is projected to save the carbon equivalent of burning more than 2.9 million pounds of coal or more than 4,700 barrels of oil as compared to utility power.

Solar projects like these support Altus Power’s Community Solar program, through which subscribers access the benefits of solar energy and support the transition to greener energy — all while saving money on their utility bills — with no equipment installed, no upfront fees, and no cancellation hassles.

“New Yorkers are known for their hustle, and Community Solar fits right into our fast-paced lives. This program lets you tap into local solar farms without installing panels on your roof,” explains Nichole Clennon, Vice President of Community Solar, Altus Power. “It’s a win-win: you save money on your electricity costs and reduce your community’s carbon footprint, all through a simple sign-up process, because every moment — and every kilowatt-hour — counts.”

(New Yorkers and everyone else, if you’d like to learn more about Community Solar or to see if you’re eligible for the program, head to join.altuspower.com.)

So what’s next for New York? Gov. Hochul gave the New York State Energy Research and Development Authority and the Department of Public Service a new goal three years ago, moving the goalpost to 10 GW by 2030. And with almost 3.4 GW in development already, the state is once again ahead of schedule.

The Altus Power Team

November 5, 2024

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Community Solar

Will Community Solar Impact My Electricity Service?

If you're curious about Community Solar but hesitant to sign up because you’re nervous about the impact on your electricity service, you aren’t alone — we get this question a lot here at Altus Power.

But here's the good news: Community Solar has no impact on your household electricity service.

‍This is because Community Solar does not replace your existing energy supplier. The clean energy generated by our Community Solar farms goes into your local electricity grid — not your individual residence or business. Your utility company will continue sending electricity to your home as they always have — day and night, rain or shine. Your lights and household appliances will continue to operate exactly as they did before you joined Community Solar.

The only difference you’ll see as a Community Solar subscriber is the presence of solar credits on your monthly utility bill, which reduces the amount you pay for your electricity. That said, you may experience normal fluctuations in solar credits throughout the year. This is because solar production can be impacted by the weather. These fluctuations often follow a seasonal pattern, as our panels tend to produce more clean energy during the summer months when there’s more daylight hours.

But don’t worry — photovoltaic technology can convert sunlight into electricity during all hours and all-weather conditions — and even at night. So if you’re subscribed to a Community Solar project, you’ll receive solar credits all year-round.

“The panel is always working,” James Fenton, director of the Florida Solar Energy Center, a research institute of the University of Central Florida, explained to CNET. “The question is how much electricity comes out of it based on the amount of light. You will get close to zero electricity at night, but if there is a little bit of ambient light, sometimes even the reflected moonlight can do it.” And solar panels also work under overcast skies. “Even on a very cloudy or rainy day, you’ll get some electricity,” Fenton said. (Plus, CNET reports, rain can actually help a solar panel by washing away any dirt that has accumulated on the panel’s surface.)

Plus, solar technology also relies on energy storage to save up electricity to use during hours of little or no sunlight, and Altus Power originates, develops, owns, and operates a network of solar generation, energy storage, and charging infrastructure across the United States.

Now, as with other energy sources, solar energy can be impacted by severe weather and natural disasters, like hurricanes, tornados, blizzards, and wildfires. Hailstorms can be especially damaging, too, though the Department of Energy’s Federal Energy Management Program (FEMP) reports that photovoltaic modules survive most hailstorms. Plus, FEMP adds, solar operators can use “hail stow” mode to adjust the angle of solar panels to reduce damage during hailstorms.

On the flip side, the Department of Energy’s Office of Energy Efficiency & Renewable Energy (EERE) reports solar power also makes communities more resilient against natural disasters, thanks to two key attributes — one, solar energy is distributed instead of centralized, and two, solar energy can be discharged without the need for fuel deliveries. “In a long [power] outage, solar and its associated energy storage can continue delivering power, even at night, to homes and businesses,” the EERE adds.

In these ways, Community Solar and solar in general can help keep the lights on, day and night, rain or shine — and even when the weather gets extreme. If you’d like to sign up for or learn more about Community Solar, head to join.altuspower.com.

The Altus Power Team

October 31, 2024

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Community Solar

Everything You Need to Know About Community Solar Billing

When you join a Community Solar project, you'll either be on Dual Standard Billing or Utility-Consolidated Billing. While most Community Solar projects today operate with the standard dual billing model, more and more states and utilities are moving towards a consolidated billing model.

What can you expect after signing up for Altus Power’s Community Solar? Well, for starters, you’ll be helping to make positive environmental changes, since Community Solar helps reduce your community’s reliance on power derived from fossil fuels. You’ll also be getting a solar discount on your annual electricity costs of 5 to 20%, depending on your location.

You can expect to see discounts on your bill within two or three billing cycles after you sign up — or two or three billing cycles after your local solar project is powered on, if it’s still under construction. What the billing process looks like, however, depends on whether your account is on Standard Dual Billing or Consolidated Billing.

‍Standard Dual Billing

‍The vast majority of Community Solar subscribers are on a billing structure called Standard Dual Billing. These customers receive two bills each month — one from their existing electric utility company and one from Altus Power — but they’re still saving money over the course of the year.

If you’re on Standard Dual Billing, you’ll notice that your monthly utility bill balance is typically lower, thanks to the solar credits you’re earning from the Community Solar project you’re subscribed to. (You might see those credits labeled as a “transfer” or an “adjustment” — the wording varies by state and by utility company.)

Your Altus Power bill, meanwhile, will charge you for those credits at a discount. Therefore, even though you’re paying two bills, the total charges for the two bills combined is less annually than what you would have paid before subscribing to Community Solar.

For example, if your utility bill for a given month is $200 but you got $100 off through solar credits, then you’ll pay your utility company the remaining $100. Altus will bill you for the solar credits minus the discount in your contract. Continuing this example, if your discount is set at 20%, then you’ll only have to pay Altus $80 for $100 worth of solar credits. That means your total electricity cost for that month would be $180 across both bills, compared to the $200 you would have had to pay without Community Solar.

‍Utility-Consolidated Billing

‍If your account is on Utility-Consolidated Billing, the process is pretty simple. You’ll get a bill from your existing electric utility provider which shows your usual charges, but you’ll also see your adjusted solar discount on that same bill. That means you will not get a separate bill from Altus Power. Instead, the utility has already handled the adjustment to reflect the discount on the solar credits listed in your Altus contract.

For example, let’s say your electricity charges this month are $200 and you receive $10 in solar discounts after the adjustment. Your new total on your electric bill would be $190, which means you saved a total of $10 this month.

While most Community Solar projects today operate with the Standard Dual Billing model, more and more states and utilities are moving towards a Consolidated Billing model. So if you’re receiving two bills now, that doesn’t mean you will necessarily continue receiving two bills indefinitely.

As always, if you have any questions about billing — or anything else related to our Community Solar program — send us a message at hello@altuspower.com. And if you’d like to sign up for or learn more about Community Solar, head to join.altuspower.com.

The Altus Power Team

October 28, 2024

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The Science of Solar

15 Illuminating Facts About Solar Energy

With the Sun offering the Earth with its most abundant energy source, humans have been using solar technology for millennia. But the use of solar energy has exploded in recent years, with the world producing more than a trillion kilowatt-hours of solar electricity. Here’s more information on these facts, plus other milestones and statistics from the evolution of the solar industry.

The Earth receives 173,000 terawatts of solar energy continuously. Not only does that figure make solar energy the world’s most abundant energy resource, it’s also 10,000 times the world’s total energy use, according to the National Oceanic and Atmospheric Association.

Solar technology dates back more than two millennia. Humans used magnifying glasses to concentrate sunlight and make fire in the 7th century B.C., according to the National Renewable Energy Laboratory (NREL). And in the 3^rd century B.C., Archimedes purportedly focused reflected light to torch Roman ships attacking Syracuse.

A 19-year-old discovered the photovoltaic (PV) effect in 1839. At the age of just 19, French physicist Alexandre-Edmond Becquerel discovered that he could generate electricity by placing silver chloride in an acidic solution, attaching it to platinum electrodes, and exposing it to sunlight, per National Geographic. That discovery led to the development of the solar cell.

But PV is just one type of solar technology. As the Archimedes legend attests, sunlight can also be concentrated to generate heat and electricity. But solar technologies can even be as simple as passive systems that use sunlight to warm or ventilate buildings.

Bell Laboratories demonstrated the first practical silicon solar cell in 1954. Engineer Daryl Chapin, chemist Calvin Fuller, and physicist Gerald Pearson’s solar cell — the efficiency of which was just 6% — powered a small toy Ferris wheel and a radio transmitter in the demonstration, according to APS News. The New York Times wrote at the time that the achievement “may mark the beginning of a new era, leading eventually to the realization of one of mankind’s most cherished dreams — the harnessing of the almost limitless energy of the sun for the uses of civilization.”

Vanguard 1, the first satellite powered by solar cells, launched in 1958. And that spacecraft was only the second satellite launched by the United States, as NASA reports. Though its solar-powered transmitter stopped working in 1964, Vanguard 1 ranks as the oldest satellite to still be orbiting the Earth.

The operation of solar energy technologies does not produce air pollution or greenhouse gases. Therefore, solar energy can be indirectly positive for the environment when supplanting or supplementing other energy sources, as the U.S. Energy Information Administration reports.

Solar has a carbon footprint that’s a fraction of that of natural gas and coal. International Panel on Climate Change data shows that the median lifecycle emissions of solar energy — including the manufacture, installation, and maintenance of PV modules — is 41 grams of CO2-equivalent emissions per kilowatt-hour of electricity generated (gCO2eq/kWh) for rooftop solar and 48 gCO2eq/kWh for utility solar. By comparison, the median lifecycle emissions of natural gas is 490 gCO2eq/kWh and that of coal is 820 gCO2eq/kWh, according to the data.

Solar PV accounted for around 5% of global energy generation in 2022. When combined with carbon-free generation sources like nuclear and hydropower, that percentage rises to 38% for that year, according to findings the NREL publicized in September 2023.

But solar PV also accounted for 56% of new electricity in 2022. “It’s impressive to see how solar is dominating the current sales,” Sarah Kurtz, a fellow with NREL’s National Center for Photovoltaics and a professor at the University of California, Merced, said in the NREL news release. “We’re interested to see how much fossil generation expansion there is in the 2023 data for next year’s recap article. It could be that carbon-free energy sources will be consistently supplying almost all of our new generation capacity very soon.”

The world’s solar electricity generation grew from 300 million kilowatt-hours (kWh) in 1989 to 1.28 trillion kWh in 2022. U.S. Energy Information Administration (EIA) statistics also show that China generated the most solar electricity in 2022 (416 billion kWh), followed by the United States (205 billion kWh), Japan (93 billion kWh), India (92 billion kWh), and Germany (58 billion kWh).

The United States’ consumption of solar energy rose 4,247,570% in under four decades. The United States consumed 0.018 billion BTUs of solar energy in 1984 and 764.58 trillion BTUs of solar in 2022, according to EIA data.

Hundreds of thousands of workers work in solar in the U.S. The country’s solar industry boasted more than 263,000 workers across all 50 states as well as the District of Columbia and Puerto Rico as of 2022, according to IREC. The Solar Energy Industries Association (SEIA) adds that the solar industry has provided the American economy with more than $60 billion of private investment.

The cost of solar is dropping. In the United States, the average cost of a utility-scale PV system dropped from $3.56 per watt in 2011 to $1.03 per watt in Q1 of 2024, according to SEIA data.

The U.S. solar industry is expected nearly triple by 2028, according to one estimate. The SEIA projects that country’s solar industry will rise from 142 gigawatts-direct current (GWdc) to 236 GWdc between 2023 and 2028.

The Altus Power Team

October 16, 2024

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Community Solar

Refer a Friend to Altus Community Solar and You’ll Both Get $50

Are you already making a difference (and getting a discount on your annual electricity costs) through Altus Community Solar? Do you know someone who would want to do the same? You and they can both get $50 through Altus Power’s Community Solar referral program.

Here’s how it works: On our referral program form, enter your first name and your email address to generate a unique referral link (just make sure to use the same email address that’s associated with your existing Community Solar account). Then, read and agree to the Terms & Conditions, and click the big green “Get Referral Link” button. That’s how you’ll get a referral link that’s unique to you.
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Once you have that referral link, share it with your friends and family — via text, email, or even social media. For every first-time customer who signs up for Community Solar through Altus Power using your referral link, you’ll get a $50 digital gift card, and so will they!

When the other person clicks your referral link, they’ll start the sign-up process by entering their name and email address. Then they’ll begin the Community Solar application. Once their application is accepted and their account is activated (this may take a few days or weeks depending on the solar project and local utility provider), you will both be notified via email and a gift card will be emailed to you both through a service called Tremendous.

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As an Altus Power Community Solar subscriber, you already know the benefits, but if you could use help explaining the idea to your friends and family, we can certainly help. Altus Power’s Community Solar program is a way to support clean energy and reduce your energy costs without installing any equipment on your home. That means that both homeowners and renters can participate.

Through Altus Power’s Community Solar program, customers subscribe to a solar project, which provides clean energy to the local electricity grid. Community Solar subscribers are compensated for that energy through solar credits, which appear as deductions on monthly utility bills, and subscribers pay Altus Power for those solar credits at a discounted rate. Subscribers contracted with a 20% discount, for example, pay Altus 80 cents for every dollar saved solar credit and keep the other 20 cents. Even better, there are no upfront costs, fees, or long-term commitments — subscribers can cancel at any time.

And the best part? There’s no limit to the number of people who can use your referral link to sign up for Community Solar.

So, if you get eight members of your kickball team to sign up, for instance, then each of those eight people will get a $50 digital gift card, and you’ll get digital gift cards worth a total of $400. If you get 12 members of your book club on board with Altus Community Solar, that’s $50 for each of them and $600 for you. 💰 Just remember that your friends and family members have to become fully enrolled with an active Community Solar account before you and they get the referral bonuses.

If you have questions not addressed here or on the referral program FAQ, reach out to us at hello@altuspower.com.

The Altus Power Team

July 15, 2024

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Community Solar

U.S. Electric Bills Expected to Spike This Summer — Community Solar Can Help

Americans might get a shock when they see their electric bills this summer, as the cost to keep cool is projected to reach record-breaking levels in the United States in the upcoming months. Community Solar, though, offers savings, with no home equipment or upfront fees required.

Electric bills are expected to reach a total of $719 during the months between June to September 2024, up 7.9% from the $661 total of June to September 2023, according to a June 3 report by the National Energy Assistance Directors Association (NEADA) and the Center for Energy Poverty and Climate (CEPC).

If that prediction holds true, electric bills will set a record, having crept up from $476 in 2014, the report adds.

The price of fuel, the cost of constructing and maintaining plants and grids, and energy regulations are all contributing to the spike in electric bill levels, according to USA Today. The real culprit, though, is the weather. Heat wave seasons nearly tripled in length between 1960 and 2021, according to Environmental Protection Agency data cited by the NEADA/CEPC report, with increases in northern cities like Seattle and Milwaukee matching increases in southern cities like Phoenix and Baton Rouge.

Plus, 2023 had the hottest summer on record, beating 2022’s high, and experts predict 2024’s summer may be hotter yet: The National Oceanic and Atmospheric Administration’s calculations suggest there’s a 61% chance 2024 will be the warmest year on record.

Amid record-breaking heat, the amount that consumers owe their utilities rose from $17.5 billion to $20.3 billion between January 2023 and December 2023, with the NEADA estimating that 16% of U.S. households are behind in their energy bills.

Low-income Americans are especially at risk amid rising heat and rising electricity costs, and Congress recently slashed the Low-Income Home Energy Assistance Program funding by $2 billion. The NEADA/CEPC report notes that the budget cut has forced states to cut financial assistance to 1 million households and to reduce average cooling benefits. Meanwhile, 33 states have no summer shut-off protections in place, leaving low-income families more susceptible to dangerous heat, the report adds.

Low-income households are also less likely to have rooftop solar. The median income of rooftop solar adopters in the United States was $117,000 in 2022, a level less the 2010 median of $140,000 but still well above the median of all owner-occupied U.S. households in 2022, which was $86,000.

Community Solar can help ease the strain. Community Solar providers like Altus Power connect households with solar projects in their area. Subscribers sign up for a share of a solar project’s energy output. A project supplies electricity to the local grid and utilities give subscribers solar credits in the form of monthly bill deductions, Subscribers then pay the Community Solar providers for the solar credits at a discounted rate.

Altus customers, for example, have received solar savings of between 5-20%, depending on where they live, and there are no upfront fees to join. Because of these savings, Community Solar can come through for U.S. households — and low-income families in particular — who are facing rising heat, rising electricity prices and cutbacks to assistance.

There’s also no equipment to install, making Community Solar accessible to households who don’t own their home, can’t afford rooftop solar systems, or don’t have suitable rooftops. If you’re interested in subscribing, go to join.altuspower.com to check your eligibility and start your application.

The Altus Power Team

June 26, 2024

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Community Solar

Supporting Hawaii’s Renewable Revolution With Community Solar

Altus Power’s Hawaii program supports the state’s transition to clean electric power. As with our presence in other states, Altus offers Hawaii residents — homeowners and renters alike — the benefits of Community Solar, including the chance to reduce their community’s carbon footprint, without any equipment or changes to their existing utility.

Hawaii has gone from relying on imported fossil fuels for its electricity to leading the United States’ charge toward renewable energy sources like solar. As the Hawaii State Energy Office touts, the Aloha State was the first state to commit to getting 100% of its electricity from renewable energy by 2045. Hawaii is also aiming at a net-negative emissions target, having set a goal to sequester more greenhouse gases than it generates by that same deadline.

Altus Power’s Hawaii program supports the state’s transition to clean electric power. As with our presence in other states, Altus offers Hawaii residents — homeowners and renters alike — the benefits of Community Solar, including the chance to reduce their community’s carbon footprint, without any equipment or changes to their existing utility.

As Altus’ solar farms deliver power to the local grid, subscribers get solar credits on their utility bill and pay Altus for those credits at a discounted rate. In Hawaii, Altus is working with Hawaiian Electric Company (HECO), and Altus subscribers get a 13% discount on the solar credits. Spots in the Altus’ Hawaii program are currently available for Oahu residents. To check your eligibility, head to join.altuspower.com and enter your zip code and utility provider.

Part of the clean energy meeting Hawaii's net emissions goals is coming from Palailai Solar Farm in Kapolei, which Altus owns and operates. Altus announced the project in June 2023, heralding Hawaii’s largest community solar project to date. Approximately 60% of the solar energy from Palailai’s 5-megawatt array benefits a local nonprofit operating a medical facility, and the remainder is available to benefit the nonprofit’s employees and other Oahu residents.

Already, Altus has more than 24,000 customers across the United States and is delivering more than 680 megawatts of clean energy nationwide. The Hawaii program is part of the Altus mission to join utility companies like HECO in offering an alternative to fossil fuel-based energy.

“We’re excited the shared solar program is taking root and opening up to residential customers who haven’t been able to install private rooftop solar,” Lani Shinsato, HECO’s co-director of customer energy resources, said when the Palailai farm was announced. “Providing customers with options is critical, and shared solar projects like this will allow subscribers to reduce their energy bill and take part in the state’s clean energy transition.”

Interested in being part of the progress? Go to join.altuspower.com to start the application process. And if you have any questions at any point along the way, contact our Customer Experience Team any time at hello@altuspower.com.

The Altus Power Team

June 18, 2024

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Community Solar

Nearly 80% of U.S. Households Are Likely Ineligible for Rooftop Solar

Solar energy is on the rise, but what happens to the estimated 77% of U.S. households that can’t install rooftop solar? Whether they wish to save money or help reduce the United States’ reliance on fossil fuels, households for whom rooftop solar isn’t possible or affordable can still benefit from solar energy. Community Solar links households with solar projects — e.g. solar farms — by allowing them to purchase solar energy, often at a discount, that then gets delivered to the local grid.

Solar energy is on the rise, but what happens to the estimated 77% of U.S. households that can’t install rooftop solar?

Renewable power generation surpassed nuclear in the United States in 2021 and coal the following year, according to a U.S. Energy Information Administration analysis. That same analysis projects that the country’s solar generation will grow 75% between 2023 and 2025. And the United Nations reports that inexpensive renewable electricity could decarbonize 90% of the world’s power sector by 2050, mitigating climate change.

Even so, just 5% of homes in the United States have rooftop solar, according to a June 2023 report from Rewiring America. Homeowners and renters face various financial and logistical obstacles to installing panels. Thanks to Community Solar, however, everyone can access cleaner energy.

‍For many Americans, rooftop solar isn’t an option

The National Renewable Energy Laboratory (NREL) found that 81% of residential buildings in the United States have rooftop space suitable for a 1.5-kilowatt photovoltaic (PV) system. However, due to factors like ownership, the number of stories of a building, and the availability of roof space, the percentage of households that can actually install a 1.5-kilowatt PV system is just 51% NREL added.

Plus, as Deloitte reports, home solar may only be a viable option for people who have a creditworthy FICO score and who live in a state with net energy metering policies (which allow owners of solar energy systems to sell excess solar energy back to the grid).

Due to factors like roof shading, low credit scores, and property ownership, Greentech Media reports that 77% of U.S. residential households are likely ineligible for rooftop solar installations.

Then there are recent policy changes that make rooftop solar even less accessible. In New York City, for instance, a recent fire code revision requires certain railings and access pathways around rooftop solar panels in new construction, restricting the square footage and sunlight available to those panels, according to Grist. And National Academy of Sciences research released last year showed that more than a dozen states had ended their net metering policies in the prior decade, per E&E News.

Community Solar offers a solution

Whether they wish to save money or help reduce the United States’ reliance on fossil fuels, households for whom rooftop solar isn’t possible or affordable can still benefit from solar energy. Community Solar links households with solar projects — e.g. solar farms — by allowing them to purchase solar energy, often at a discount, that then gets delivered to the local grid.

Altus Power, for example, owns and operates many solar projects installed at ground level or atop rooftops or carports. Altus subscribers purchase solar credits at a discount, and the solar credits result in deductions on monthly bills from their utility company.

And Community Solar is taking off. Research shows that community solar capacity more than quadrupled between 2016 and 2019; and in 2021, the U.S. Department of Energy announced a goal for community solar to power the equivalent of five million households and create $1 billion in energy bill savings by 2025.

“The economics are strongly on the side of doing this,” Dan Kammen, an energy professor at the University of California at Berkeley, told The Washington Post last year. “It’s now cheaper to build new solar than to operate old fossil [fuel plants]. … We’re at the takeoff point.”

Added Dimension Renewable Energy’s Brandon Smithwood, “The great promise of community solar is it allows everyone to be part of the energy transition and not feel they’re being left behind.”

Interested in signing up for Community Solar? Check your eligibility and start your application here.

The Altus Power Team

June 11, 2024

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Altus News

The Story of Altus: The Founding of a Clean Power Company

Gregg Felton first experienced solar energy in grade school, when he and his classmates baked cookies in a solar oven during a field trip to Central Park. Now Felton is the CEO of Altus Power, the largest owner and operator of commercial-scale solar in the United States. We are proud to present Altus Power’s journey so far, introduce our team and partnerships, and provide you with Felton’s vision for Altus’s future.

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When Felton got involved with Altus in 2013, the solar industry was “still quite young,” but it was becoming clear that the price of solar modules and other components “would come down fairly dramatically in a way that would allow this business to compete” with grid power, he says. “And the source of energy being from the sun was a bonus to being price-competitive with traditional sources of electricity.”

Felton knew the demand for and interest in solar power was there, and Altus was able to secure partners in the shared mission of delivering clean electric power to the U.S. “We’ve been fortunate over the years to partner with some incredible firms that have been able to facilitate our growth,” Felton explains. Blackstone, for example, is an ongoing capital partner to Altus, and CBRE provided the company with natural expansion opportunities. “Whether it be Blackstone, Goldman Sachs, Canadian Pension Plan, CBRE, we’ve surrounded ourselves with incredible strategic and financial partners,” Felton says.

One milestone on the Altus journey came in December 2021, when Felton and the Altus team rang the opening bell on the floor of the New York Stock Exchange to celebrate the company going public. “We went public not because we had to but because it seemed to us that the benefit of going public would really help to elevate our brand,” Felton recalls. “The industry is still quite young, not well understood, and we thought it was pretty incredible to be the first public company serving the commercial solar sector. That day was an awesome day.”

Currently, Altus is a 100-strong organization serving clients in 25 states — with a domain expertise that allows us not just to build new projects but to acquire existing ones, as we did in our January 2024 bilateral acquisition of 84 MWs of commercial-scale solar arrays from the independent energy trader Vitol. “We’re picking up new customers, and we can increase our density within markets and allow our team to service more efficiently more assets and more locations,” Felton says. “Our customer list is growing, including the largest real estate owners in the country. … We’re very proud to have assembled all of these constituencies together to achieve the mission that we’re on, which is to bring clean energy to every part of this country and ultimately, perhaps, internationally.”

The Altus Power Team

June 10, 2024

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Community Solar

The Environmental Benefits of Community Solar

June 5 is World Environment Day, an annual occurrence that the United Nations Environment Programme launched in 1973 to engage the public to protect and restore the Earth.

And at Altus Power, we’re celebrating World Environment Day by spotlighting the environmental benefits of Community Solar, subscription-based clean energy programs that connect customers with solar energy projects around the United States.

‍Unlike fossil fuel energy sources, the generation of power from Community Solar projects creates no carbon emissions.

The combustion of fossil fuels for electricity emits greenhouse gases like carbon dioxide, which trap heat in the Earth’s atmosphere, which the U.S. Environmental Protection Agency explains has resulted in more severe weather events and rising sea levels.

But solar power — Community Solar included — generates electricity without carbon emissions. In fact, the 780,000 megawatt hours of electricity Altus generated in 2023 helped avoid 550,000 metric tons of CO2 equivalents, compared to utility power. That’s the equivalent of the electricity consumption of more than 100,000 homes.

‍Air pollution from fossil fuels harms crops, too

Research indicates that the soot and ozone generated from the combustion of fossil fuels harms yields of crops, according to the World Economic Forum. In fact, some states in India have experienced 50% relative yield losses. Soot absorbs sunlight, limiting the light available for plants’ photosynthesis. Ozone, meanwhile, enters leaves through normal gas exchange and causes yellowing, cell injury, and other negative effects in crops.

Not using fossil fuels helps protect our oceans.

Fossil fuel use can also be detrimental to the Earth’s oceans. For one, oceans absorb at least a quarter carbon dioxide emitted from fossil fuels, leading to increased acidity that endangers marine organisms and coral reef habitats, according to the Environmental and Energy Study Institute. Additionally, wastewater from fossil fuel use can be toxic, with lead, arsenic, chlorine, and mercury contaminating groundwater, the institute reports. And the extraction, transport, and refining of fossil fuels can lead to oil spills that are catastrophic to wildlife and natural habitats.

Solar arrays can provide habitats for pollinators.

Bees, butterflies, and other pollinators are crucial for about 35% of global food production, as the U.S. Department of Energy’s Office of Energy Efficiency & Renewable Energy reports. And solar arrays like the ones used in Community Solar projects can provide habitats for pollinators, benefiting both the insects and the nearby agriculture. A study funded by the U.S. Department of Energy Solar Energy Technologies Office (SETO) determined that pollinator habitats at current or planned utility-scale solar deployments in the United States could benefit 1,350 square miles of nearby agricultural land, an amount of land greater than the area of Rhode Island.

‍Community Solar allows more people to access the benefits of cleaner energy.

Some environmentally minded consumers can't install solar power systems at home —whether it’s because they can’t afford such a system or don’t have the credit rating to get a home solar loan, they don’t have a rooftop sunny enough or suitable for a solar array, or they simply don’t own their building. For these customers, Community Solar options like Altus Power offer opportunities to participate in renewable energy without overhead costs, equipment, or maintenance — and to work toward a greener, healthier future.

The Altus Power Team

June 5, 2024

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The Science of Solar

What Is Solar Energy, and How Does It Work?

You see solar panels everywhere: on rooftops, on car canopies, on compacting trashcans, on outdoor lamps, on spacecraft, and in solar farms like the one Altus Power owns and operates in Kapolei, HI. But what is solar energy, and how does solar energy work? How do those panels convert sunlight to electricity?

For starters, solar energy is a vast resource — even the most abundant energy resource on earth, according to the National Oceanic and Atmospheric Administration. In fact, the NOAA adds, the Sun provides 173,000 terawatts of solar energy to the Earth continuously, an amount more than 10,000 times the world’s total energy use. And that energy will be available for the lifetime of the Sun. “It's finite, but we're talking billions of years,” MIT physics professor Washington Taylor said in a 2011 MIT News article.

What is solar energy?

Solar energy involves the harnessing of heat and light from the Sun to generate warmth and electricity. Systems for harnessing solar energy be passive or active.

Passive solar techniques include passive solar heating systems, which use the location, orientation, and construction materials of a building to control that building’s interior temperature, as the Environmental and Energy Study Institute explains.

Active solar techniques, meanwhile, include photovoltaic cells, concentrated solar power, and solar water heating. Photovoltaic cells use semiconductor material to convert sunlight into electricity. Concentrated solar power uses an array of mirrors to concentrate sunlight into receivers that convert the light into heat, which can then power turbines and generate electricity. And solar water heaters use solar collectors to heat water for households, commercial buildings, and swimming pools.

How does solar energy work?

Of the solar technologies listed above, photovoltaic (PV) cells might be the hardest to understand: How do those cells take in sunlight and put out electricity anyway?

As the U.S. Energy Information Administration explains, PV cells are made up of semiconductor material, typically silicon, that can absorb the photons — or particles of solar energy — of sunlight. When those photons are absorbed, electrons become dislodged — or “freed” — from the semiconductor material.

But in the case of silicon PV cells, there’s already an internal electric field, since a layer of n-type silicon is placed next to a layer p-type silicon, according to the American Chemistry Society. N-type silicon has an excess of electrons, while p-type silicon has an excess of holes. At the junction between the two layers, electrons fill in the holes, leaving negatively charged ions on one side and positively charged ions on the other.

Because of this electrical field, freed electrons are drawn to the n-side, while the holes they leave behind are drawn to the p-side. With an electrical imbalance between the two sides, conductors channel the electrons from the n-side, through a circuit that includes an external load like a battery, and back to the p-side, where the electrons fill in holes and the cycle begins anew.

What are the advantages of solar energy?

Though the creation of PV cells can be expensive and energy-intensive, solar energy use has definite advantages. The U.S. Energy Information Administration notes that the use of solar energy can have an indirect benefit to the environment by reducing or replacing more harmful energy sources.

For example, renewable energy like solar energy can reduce or replace energy derived from fossil fuels. An NREL study found that if the western United States got 35% of electricity from wind and solar, carbon emissions would drop by 25-45%, which is the equivalent of taking approximately 22 to 36 million cars off the road.

Solar energy can also “improve air quality, reduce water use from energy production, and provide ecosystem services for host communities through carbon sequestration, pollination, and ground and stormwater management,” according to the U.S. Department of Energy’s Office of Energy Efficiency & Renewable Energy.

In its 2011 book Solar Energy Perspectives, the International Energy Agency stated that the development of “affordable, inexhaustible, and clean” solar energy would have huge benefits. “It will increase countries’ energy security through reliance on an indigenous, inexhaustible and mostly import-independent resource, enhance sustainability, reduce pollution, lower the costs of mitigating climate change, and keep fossil fuel prices lower than otherwise,” the agency contended. “These advantages are global.”
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The Altus Power Team

May 9, 2024

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Altus Power

Community Solar

What Is Community Solar?

If you’re curious about Community Solar, you’ve come to the right place. Here at Altus Power, we are leading the way towards a more sustainable future by offering Community Solar to homeowners and renters in multiple states across the country.

‍So, what exactly is Community Solar? Let’s dive in.

Community Solar programs offer individuals the option to save money on their electricity bills and support more clean energy in their local communities without installing equipment or adding panels to their roof.

Altus Power’s clean energy is produced by large-scale “solar farms” owned and operated by Altus Power, located on nearby commercial rooftops, carports, or on the ground. Solar farms are made up of hundreds or even thousands of solar panels, which capture energy from the sun and convert it into electricity we use every day.

We send the power produced by these solar farms directly to local electricity grids so it can be used to power homes and businesses in the surrounding community, reducing the reliance on energy derived from fossil fuels.

‍How does Community Solar help you save money?

Community Solar gives qualifying residents the opportunity to purchase electricity from a nearby solar farm and receive credit on their utility bill for it. The size of the credit you receive depends on the amount of clean energy generated by the solar farm you are subscribed to. The bill credits you receive each month appear as a deduction on your bill and significantly reduce the amount you owe your utility company.

If you’re an Altus subscriber, we’ll bill you for those credits — at a reduced rate — which saves you money overall.

Here’s an example of how it works:

Let’s say your utility bill this month is $400, and you receive a credit of $300 on your utility bill in exchange for the energy generated from your portion of the solar farm. In other words, you will pay your utility company only $100. Then, Altus will bill you for those solar credits at a discounted rate.

For example, if we agree on a 20% discount, then you’d be paying a total of $340 instead of $400 this month — saving you $60!
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Example for illustrative purposes only

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‍How does Community Solar Help the environment?

Community Solar subscribers aren’t just saving money — they are actively helping to make their community greener by supporting supplying more clean energy directly into the local power grid, which is then used to power local homes and businesses in the community. That means less reliance on power made from fossil fuels. When our solar farms convert sunlight into usable electricity, neither greenhouses gasses nor other harmful emissions are produced.

Community Solar is a great way for people to support clean energy if they live in an apartment, are renters, do not want to install rooftop panels or face structural or building issues preventing them from installing their own solar panels. The only requirement to participate in Community Solar is having a utility bill — the program is open to homeowners and renters alike, and there are no upfront fees or ongoing subscription costs. Subscribers only pay Altus a percentage of what they save on their electricity costs each month. We share in the savings, and your community gets the benefits as well.

If you want to read more about Community Solar, here are some articles from the web that we recommend:

Community Solar Makes Renewable Energy Available to All
Community Solar: Access Solar Power Without Rooftop Panels
14 Ways to Save on Your Electric Bill

To see if Community Solar is available in your area, click here and enter your zip code and utility company. To complete your sign up, you will need a copy of your utility bill so be sure to have that handy.

If Community Solar is not currently available in your zip code, please join the waitlist to be contacted when we expand. For questions, concerns, or technical support, reach out to us at hello@altuspower.com any time — we’re always here to help.
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The Altus Power Team

January 29, 2024

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Industry Analysis

AI and Sustainability: 3 Lessons Learned From CES 2024

Now that CES 2024 is a few days behind me, I’ve had some time to reflect on everything I saw and heard during my trip to Las Vegas. Not only did I have the opportunity to experience the trade show floor and take in the wide range of sustainability innovations featured at the show, but I also had the honor of representing Altus Power on a panel about AI and sustainability alongside industry leaders: Rene Lammers from PepsiCo, Aviad Almagor from Trimble and moderator Ariana Stolarz from Accenture.

Here are three themes that emerged from this lively conversation.

‍We Must Use AI Constructively

‍With great power comes great responsibility, as the saying goes. And that could not be more applicable to Al. Though artificial intelligence has exploded in recent years due to breakthroughs in the technology, the truth is, it’s not new. AI has been around since the 1950s, it was refined further in the 1980s, and really exploded in the 2000s. However, the act of using automated systems to acquire, process and apply massive amounts of data to real life outcomes is still in its infancy. As AI becomes smarter and stronger over the next few years, it’s imperative that we make sure our data is not just accurate, but also used constructively.

Think about something as simple as a person’s purchase history. When major retailers use your purchase history to create highly customized and predictive shopping experiences, there’s the potential for serious consequences — and there are real life examples of this already happening. I’m not saying we’re all going to be characters in the movie Minority Report any time soon, but it’s a slippery slope that should give us all a moment of pause.

That said, we can’t slow progress and nor should we. In fact, our panel agreed we may not be innovating fast enough. Because with all the potential for positive outcomes, like the facilitation of more eco-friendly products, services and experiences for people, businesses and the world, we may have a fighting chance at reaching the targets necessary to sustain and improve life as we know it.

‍AI Is Already Enabling a More Sustainable Future

After establishing some of our collective fears and concerns around AI, we agreed it was time to focus on the positives — and there are a lot. Almagor from Trimble talked about how digital twins are being created and leveraged within forestry to better understand soil and foliage health to support critical decision making. In commercial farming, he told us, the question is always “To spray, or not to spray?” AI is being used to make smart recommendations for pesticide usage, which can reduce consumer exposure to harmful chemicals. At PepsiCo, Lammers said they’re using visual AI tools to detect unusable potatoes which reduces waste and ensures quality control standards are being met. And here at Altus, we’re leveraging AI in our new Altus IQ product to make tailored recommendations for corporate clients looking to save money and reduce their carbon footprint.

‍Transparency Is the Future of AI

Also during the Panel, Lammers told our audience that his team had made their newly-developed fully sequenced oat genome open source; a revelation that surprised everyone. We’ve grown so accustomed to the veil of secrecy that has traditionally cloaked technology IP. But with AI, something different is happening: sharing. Since its release, the genome has been accessed more than 5,000 times. Farmers around the world are using this data to create better, more environmentally friendly food. We’re seeing open source IP being used for good in a wide range of industries from automotive to apparel. A few years ago, Levi’s opened their top secret water-saving denim production process in the hope others would follow suit. It’s an age-old lesson that never gets old: sharing is caring.

A massive thank you to CES for including Altus Power in this important discussion on sustainability — we are proud to play a role in moving this objective forward. The world is currently experiencing a profound shift away from fossil fuels to renewable alternatives and the growing pains are real. Changing behavior takes time, especially corporate behavior. But AI has the power to help accelerate the changes necessary for broad adoption… and that’s exactly what we are focused on here with Altus IQ.

Til next year, CES!
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Julia Sears

January 22, 2024

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Community Solar

5 Ways to Cut Your Energy Costs in 2024

January 10th is National Cut Your Energy Costs Day and we're sharing our top 5 tips for saving on electricity costs this year.

If you’ve noticed that your utility bills are on the rise, you are not alone. According to the U.S. Energy Information Administration, the average electric bill for U.S. residential customers in 2022 was $137 per month — a total of $1,600 a year. Despite these steep prices, there area number of things you can do to proactively reduce energy costs and increase efficiency.
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January 10th is National Cut Your Energy Costs Day, and we couldn’t think of a better reason to come up with an action plan. Here are five tips for getting started:
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Schedule a home energy audit. A home energy audit is akin to a physical health checkup for your home. A certified energy auditor can inspect your home and conduct diagnostic tests to make recommendations for making your home a more efficient, comfortable and healthy living space. Whether it’s identifying faulty window seals or recommending more efficient fixtures, an energy auditor can help you uncover what may be draining unnecessary energy from your home. You can find an auditor via the U.S. Department of Energy Home Energy Score program, the Building Performance Institute, or your local power company. While most audits come with a fee, some local utility companies will offer an audit for free.
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Turn down the lights. Keeping the lights on in your home can account for up to 15% of a home’s energy usage. To cut down on costs, switch to LED lighting throughout your home, especially products with the Energy Star label. Make sure to turn off lights when you are not using them. You can also consider installing dimmer switches that allow you to save electricity (while setting the mood). After making these changes, monitor your monthly electric bill for savings and make additional adjustments as needed.
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Unplug unused appliances. How many appliances do you have plugged in that you don’t use on a regular basis? Think coffee makers, charging cables, cable boxes, toasters, etc. These “vampire” appliances are wasting electricity when they’re not even being utilized. Unplugging them — or leaving them plugged into a power strip that you can switch off — can quickly add up in energy savings. When an appliance can’t be unplugged, like a thermostat, for example, you may be able to use eco mode, which will shut off or go into sleep mode when a certain temperature is reached or you are away.
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Scale back on hot water. You may be surprised to learn that hot water accounts for an estimated 20% of home energy use. One easy way to cut down on hot water consumption is to wash your clothes in cold water, especially since most detergents are designed for 65 degree water temperatures. While taking a cold shower isn’t everyone’s cup of tea, another suggestion is to turn down the resting temperature of your water heater. Most water heaters are preset at 140 degrees, 20 degrees above the Department of Energy's recommendation. When using your dishwasher, look for the eco mode, which reduces the amount of hot water used as well.

Sign up for Community Solar. One of the most impactful ways to cut down on your energy costs is by signing up for Community Solar. In fact, Community Solar customers receive solar savings of between 5-20% — savings that can add up quickly. Community Solar is an excellent way for an entire community to have access to the benefits of solar energy without any equipment, installation or change to your rooftop needed. Community Solar subscribers continue receiving electricity from their utility company so there’s no interruption in service. The energy generated by the community solar facilities is sent directly into the local power grid, thereby increasing the total amount of clean energy available to the area. Signing up is easy and can be done here.
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The New Year is a prime opportunity to start thinking differently about energy consumption and cutting down on rising energy costs. Remember, every effort towards energy efficiency matters, and all of these changes can make an impact in both the short and long term. So, think about your habits and take proactive steps to save energy and money while creating a more sustainable future.

The Altus Power Team

January 10, 2024

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Industry Analysis

The State of Clean Energy: A 2023 Recap and What’s Ahead for 2024

We're in a moment of huge growth in renewable energy. Check out our latest post for highlights from 2023 and a look ahead for 2024.

The clean energy future is arriving faster than you may think. 2023 marked a year of significant advances in renewable sources with more than $1.7 trillion worldwide expected to be invested in technologies such as wind, solar power, electric vehicles and batteries, the most ever spent on clean energy in a year. Renewables are now expected to overtake coal by 2025 as the world’s largest source of electricity.

As 2024 begins, the stage is set for even more transformative changes. Let's take a closer look at the state of clean energy, highlighting the trends of 2023 and what's on the horizon for the year ahead.

‍The Surge of Renewable Energy in 2023

‍Policy and Investment
Global initiatives and policies continued to support the clean energy transition. At December’s COP28 climate summit in Dubai, nearly 200 countries approved a milestone plan to ramp up renewable energy and transition away from fossil fuels like coal, oil and gas. The approved plan also called on nations to triple the amount of renewable energy, like wind and solar power. In addition, investments in clean energy projects soared, demonstrating a growing recognition of its economic viability and environmental necessity.

Solar Power Dominance
One noteworthy trend of 2023 was the significant growth and dominance of solar power. Advances in solar technology, combined with decreasing costs of solar panels, made it a formidable player in the renewable energy sector. Research firms like BloombergNEF forecasted global solar installations to increase by as much as 56%.

Storage Solutions
The focus on energy storage solutions gained prominence in 2023. As intermittent renewable sources like solar and wind became more prevalent, the need for efficient storage technologies intensified. Innovations in battery storage, including advancements in lithium-ion batteries and emerging technologies like flow batteries, provided solutions to store surplus energy for use during low generation periods.

Predicting What Lies Ahead in 2024

Solar Will Continue Its Reign
At Altus Power, we predict the demand for renewable energy sources will continue to increase, including for locally sited solar. With solar energy experiencing record-setting growth, we believe momentum is set to continue into 2024, particularly with IRA subsidies and tax breaks established to encourage growth for at least the next decade. In addition, advancements in solar photovoltaics are expected, including more efficient and affordable solar panels.

‍Watch Out For The Energy Storage Revolution
The year ahead is poised for significant strides in energy storage solutions. Battery storage is an important tool for local utilities to ensure grid stability as they increase their reliance on renewable energy, like solar. Altus Power expects storage to increasingly be paired with its solar arrays for customers who want on-site backup power and EV charging. From improved battery performance to scalable grid-level storage systems, innovations will focus on making energy storage more efficient, cost-effective, and capable of handling larger capacities.

‍Global Commitments and Collaborations Will Strengthen
It is also expected that international partnerships and agreements will continue to play a pivotal role in accelerating the transition to renewable energy sources. Over the coming year we may see an increase in subsidies, tax incentives and regulatory frameworks in other countries that are more favorable to renewable energy projects. As countries unite to combat climate change and achieve sustainable development goals, we certainly expect to see continued investment into clean energy technology and solutions.

The landscape continues to evolve and the momentum gained in 2023 indicates a collective U.S. and global commitment to harnessing the potential of clean energy. The continued adoption of renewable energy, particularly solar power, alongside advancements in storage technologies and international policies and partnerships, offers a promising path toward a more sustainable future in 2024.
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The Altus Power Team

January 5, 2024

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min read

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Unsplash

Altus IQ

Companies That Prioritize Decarbonization Are Winning the Game

Earlier this year, Forbes released a list of 100 "Net Zero Leaders" — companies like CBRE who are both "leading the transition to a low-carbon economy by 2050" and changing their business models to meet sustainability targets. Getting on a list like this — or striving to — isn't just about good PR. (Though that doesn't hurt either, of course.)

Earlier this year, Forbes released a list of 100 "Net Zero Leaders" — companies like CBRE who are both "leading the transition to a low-carbon economy by 2050" and changing their business models to meet sustainability targets. Getting on a list like this — or striving to — isn't just about good PR. (Though that doesn't hurt either, of course.)

According to Forbes, more than 4000 companies representing 1/3 of the global economy’s market capitalization have already set net zero targets in an effort to offset their carbon emissions and slow the impact of climate change.

Whether you're vying for a spot on next year's list or you're just beginning your corporate sustainability journey (or you're someplace in the middle), you're probably looking for ways to optimize your company's sustainability program or implement new and better strategies. Here at Altus Power we always say, you can't fix what you can't measure — and that couldn't be truer when it comes to improving the carbon footprint of your business.

How much do you know about your company's energy usage today? How does your company's carbon footprint stack up against others in your industry? Have you set sustainability goals for your tenants, and if so, are they meeting them? Are you close to achieving global Paris targets?

We designed Altus IQ so you can answer these questions and more. A comprehensive cloud-based energy insights platform, Altus IQ allows you to see your company's energy usage in real time and use those insights to reduce emissions and improve your carbon footprint across properties.

Measuring and acting on these goals can have a ripple effect on your business, as well — not only will you save money in the short and long term, but according to an analysis of studies by Morgan Stanley, “companies that adhered to social or environmental standards showed better operational performance” and enjoyed improved stock price performance as well.

Maybe it’s because 70% of employees find that sustainability programs make employers more appealing. Or maybe it’s because companies that invest in sustainability also tend to invest in other needle-moving initiatives like diversity programs and better working conditions.

Either way, the data couldn’t be clearer: companies that measure, act, and report on their power usage and carbon avoidance goals are winning the game — and getting noticed for it.

Julia Sears

December 5, 2023

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min read

Photo Credit:

Pexels

Altus IQ

Spreading the Sunshine: How Solar Energy Is Empowering Commercial Companies to Transform Communities

In order for America to have a chance at hitting global climate targets, the commercial sector needs to ensure that its power is electric and clean. In short: the future of net zero depends on solar-forward commercial that transforms communities.

According to a recent report by Goldman Sachs, renewable energy is leading the third American post WW2 energy revolution. At the same time, electricity is poised to play a much bigger role in overall energy usage. This electrification is a positive thing: getting off fossil fuel dependency as we power more homes, factories, machines and vehicles is more than ever a necessity. But in order for America to have a chance at hitting global climate targets, the commercial sector needs to ensure that its power is electric and clean. In short: the future of net zero depends on solar-forward commercial that transforms communities.

We built Altus Power with the foresight that renewable energy and reducing carbon emissions would be important to commercial clients. As renewable energy growth outpaces most other industries, we are seeing that prediction come to fruition. And we are ready, willing and able to deliver the type of power needed to improve local communities.

At Altus Power, we make clean electric power exactly where it is needed most — where commercial activity takes place.This doesn’t require massive changes to the grid, and can, in fact, weather many of the grid issues that we’re seeing, because we are making the energy where it is consumed. Here’s what this looks like in action: When you add energy storage it can power buildings at night. When it’s coupled with EV charging, it can power vehicles, including fleets of trucks and vans, with clean electric power. The result is an overall energy cost reduction and a path forward to decarbonization.

And most importantly, it allows for Community Solar, which we believe is at the center of the energy revolution. Put simply, Community Solar democratizes access to the benefits of clean energy. For the first time, solar is available to everyone: renters, multi-family homes, small businesses and more. AltusCommunity Solar Farms are built where the power is being used, making it easy for companies and individuals to reap the environmental and financial benefits.

When commercial companies embrace renewable energy sources like solar energy, local communities stand to win big. From the revitalization of local economies to increased energy independence, communities are benefiting on multiple fronts. By partnering with commercial companies and encouraging them to support clean power through Community Solar, Altus Power is working to pave the way toward a brighter and greener future, one ray at a time.

Ready to go green with solar? Explore our range of commercial solutions here.

Lars Norell & Gregg Felton

December 5, 2023

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min read

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Altus

Community Solar

A Greener Future For NJ Starts With Community Solar: Here's What You Need to Know

After a successful two-year pilot program, the New Jersey Board of Public Utilities recently established a permanent Community Solar Energy Program designed to provide more New Jersey residents — especially from low- and moderate-income households — greater access to clean energy and significantly lower utility bills. The new program will support enough solar to enroll about 30,000 subscribers across the state.

‍Community Solar comes with big benefits — financially and environmentally. Since the start of New Jersey’s pilot program, Community Solar customers have saved as much as $1.5 million on their monthly energy bills. This equals monthly savings of at least 15%. With utility rates on the rise, these savings can add up quickly, especially in overburdened areas.

Community Solar is poised to play a big role in New Jersey’s efforts to transition to 100% clean energy with the potential to meet 30% to 40% of its energy capacity needs by 2035. Community solar doesn’t pollute the air like coal, gas, oil and other fossil fuels and can help prevent more than 45,500 metric tons of carbon emissions each year.

What is Community Solar?

‍Community Solar allows residents and local businesses shared access to solar and its benefits 100% virtually. By subscribing to a Community Solar project, you can reduce your carbon footprint and electricity costs without making any changes to your rooftop or home.

This is a great option for homeowners and renters alike who are interested in a flexible way to support clean energy, but who may not be able to install solar panels on their own property because they lack suitable roof space, live in rented or multi-family properties or cannot afford the upfront installation costs. Subscribers still receive electricity from their utility company, so there are no changes to service. The energy generated by the community solar facilities is sent directly into the local power grid, thereby increasing the total amount of clean energy available to the area. And if you decide to move within New Jersey, you can likely take your Community Solar contract with you to your new home.

Choosing the Right Company for Your Community Solar Needs

‍While many companies claim that they can provide renewable energy and save you money, not all companies deliver on their promises. It’s important to look for a Community Solar provider that is independently owned and operated and fully in control of the process, from start to finish. Be wary of companies that insist on an upfront or annual commitment or claim that you must switch your existing utility provider to participate in Community Solar. These are major red flags!

At Altus Power, for example, once enrolled, all customers’ utility service remains unchanged except for a monthly credit on their utility bill for the energy generated by their local solar facility. Savings will depend on local utility rates, but on average, Altus Power New Jersey Community Solar customers save an average of $400 on their electricity bills annually.

Get Started Today

‍Again, signing up for Community Solar is easy and should be completely free! If you’re interested in becoming an Altus Power customer, you can simply sign up here and once your enrollment is complete, you’ll start receiving solar credits on your monthly utility bill.

Limited spots are available in the statewide program, with priority access given to those who qualify for certain state benefits. To learn more about how to qualify, please visit http://www.altuspower.com/nj.

Altus Power Team

December 5, 2023

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