Dec. 30, 2013 - RGS Energy, the commercial and utility division of Real Goods Solar, Inc., has joined forces with Green Lantern Capital to co-develop seven solar projects totaling 4.5 megawatts (MW) in Vermont.
RGS Energy will design, install, monitor and maintain the solar power systems. The company expects to begin construction in summer of 2014 and complete it by November.
On an annual basis, the solar power systems will be designed to generate more than 5.3 million kilowatt hours of electricity. Over the next 25 years, the solar energy produced would offset more than 204 million pounds of carbon dioxide emissions, the equivalent to taking over 19,000 cars off the road or planting over 2.3 million trees (estimated per EPA-based data). The new solar projects will also help Vermont reach its goal of 20% renewable energy by 2017.
"Through these projects, we will be enabling municipalities, schools and businesses to reduce their energy costs while at the same time promoting solar energy," said Luke Shullenberger, Green Lantern Capital's founder and managing partner. "We partnered with RGS Energy, a pioneering solar company in the country, because of the best practices they have developed around quality and safety through their extensive experience building similar projects in Vermont and elsewhere."
Tim Seamans, RGS Energy's general manager, commented: "We have very deep solar roots in the Northeast, especially in Vermont where we have successfully installed more than 10 megawatts of solar, more than any other company. In collaboration with Green Lantern Capital, we are expanding in this important market segment. We are proud that the design, management and construction of these projects will help bring new jobs to Vermont, while supporting the state's renewable energy goals."
