PSM Walden Woods Solar Project
Greater Boston Area, MA
The Project is an operational 29.13 kW of solar photovoltaics located on four residential roofs in the Greater Boston Area. The Walden Woods Project will purchase the net metering credits generated by the Project. NuWatt Energy and Sunlight Solar Energy were the EPC contractors for the Project and are also the O&M contractors for the Project. The Project will generate approximately 32,000 kWh in Year 1 and is expected to reduce carbon emissions by 450 metric tons during its 20-year life.
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Project Company and Security Issuer
PSM Solar MA 1 LLC
Estimated Annual Production
31,952 kWh in Year 1
Over the Project's 20-year life, it is expected to reduce carbon emissions by 450 metric tons, the equivalent to using over 50,000 gallons of gasoline, the electricity used by 4 homes, or the carbon sequestered by 20 acres of forest.
Solar Project Host
The Project is located on four residential roofs in Boston, Cambridge, Dedham, and Waltham under 20-year roof leases with the homeowners. The homeowners are compensated for the leases with an allocation of net metering credits representing 23% of the net metering credits produced by the Project. All four leases have at least 19 years left on their terms as of July 1, 2016.
Solar Power Customer
The Project Company is selling the 77% of the net metering credits not allocated to the homeowners to The Walden Woods Project (“TWWP”) through a 10-year Solar Net Metering Credit Sale Agreement. TWWP is a nonprofit organization committed to preserving the land, literature, and legacy of Henry David Thoreau through conservation, education, research and advocacy. Founded in 1990 by recording artist Don Henley, TWWP uses the land it has protected in Walden Woods to foster an ethic of environmental stewardship and social responsibility, both cornerstones of Thoreau’s philosophy. TWWP is headquartered in Lincoln, MA, in the heart of Walden Woods. For more information, please visit: https://www.walden.org/
PSM Clean Energy (“PSM”) completed development of the Project. The PSM team has developed over 40 MW of solar projects across New England and is experienced in all aspects of development from site origination, design, permitting, interconnection, power purchase and lease agreements, and solar incentives.
EPC Contractor and O&M Contractor
NuWatt Energy and Sunlight Solar Energy, Inc. were the EPC Contractors for the Project and are also the O&M Contractors for the Project.
NuWatt Energy’s team consists of professional installers with a combined portfolio of over 600 solar installations and engineers with strong experience in renewable energy applications, structures and building envelopes. For more information, please visit: http://nuwattenergy.com.
Sunlight Solar Energy, Inc. specializes in solar electric and hot water systems for homes and businesses. Sunlight Solar has been in business for over 25 years and performed over 2,000 installations, each with a 10-year labor warranty. For more information, please visit: http://sunlightsolar.com.
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