July 19, 2022
New Partnership Offers Commercial Solar Technology in Pennsylvania
Keystone Clearwater Solutions and Coral Reef Partners have combined resources to help natural gas production, municipal, and industrial clients diversify their energy portfolio and meet ESG (Environmental, Social, and Governance) goals with commercial solar solutions in Pennsylvania.
Tom Stabley, CEO of Keystone Clearwater Solutions said, “Many of our current customers are looking for ways to use renewable energy sources in their daily activities to power fixed plants and facilities, helping to achieve their ESG initiatives.”
Coral Reef offers customized commercial solar planning and development, flexible financing options, and project management services from site assessment through commissioning and monitoring. The company has developed commercial solar photovoltaic installations for Fortune 500 companies, municipalities, and other public/private partnerships, resulting in more than 100 MW of solar power delivered.
Corey Wolff, founder and president of Coral Reef Partners said, “Our collaboration with Keystone Clearwater Solutions allow us to rely on the expertise they have developed over the years while, as a sister company, being able to help develop their customers’ interest in solar energy.”
How commercial solar technology benefits natural gas production, municipal, and industrial clients
Commercial solar technology can power facilities to help companies and municipalities achieve ESG initiatives with clean energy as well as financial benefits. ESG initiatives offer strategic value by attracting socially minded customers and investors and may also be required for certain investments and contracts. Examples of ESG initiatives include strategies to reduce carbon footprints, to promote diversity and inclusion, and to promote community involvement.
In addition, commercial solar solutions can have financial benefits such as reduced operating costs, tax credits, and incentives. According to this report by the National Renewable Energy Laboratory (NREL), “An understanding of where renewable generation is applicable and may be integrated can lead to both lower environmental impact and reduced operation costs.” This is true not only for customers in the oil and gas industry, but industrial and municipal clients, too.
Currently, the Investment Tax Credit (ITC) and available incentives can significantly reduce the cost of solar installations. In 2024, however, the ITC will be reduced from 26% to 10%, while material and labor costs are expected to rise. Government and local utility rebates and incentives fluctuate and may not be available in the future. Programs are often competitive and granted on a first-come, first-served basis.
Commercial solar technology today
Commercial solar technology has become more cost effective and more efficient to install than ever before. It can be utilized in a variety of applications (roof, ground, or canopy installations) and is readily deployable from assessment to construction to commissioning within 24 months, speeding up the return on investment. However, material and labor costs are rising while incentives are decreasing or expiring entirely.
Investing in solar energy now can reduce the impact of energy price fluctuations over time. Coral Reef Partners goes beyond traditional leases and power purchase agreements to offer flexible finance packages for customers that are unable to layout cash to initiate a solar project.
Getting started with commercial solar technology in Pennsylvania
Coral Reef Partners provides commercial solar planning in Pennsylvania encompassing all aspects of project development, including:
- Site assessment
- Site suitability
- Design, layout and production modeling
- Financial modeling
- Due diligence and a 10% design contract
- EPC Contract Execution
- Commissioning and operations
To learn more, visit coralreefpartners.com and request a meeting.