Nautilus Solar Completes 6.5 MW Project in Exeter, Saving $35M for RI Housing Authorities
Nautilus Solar has finalised the first and largest of three solar installations, Exeter Mail, a 6.5 MW project in Exeter, Rhode Island. This initiative, part of a larger portfolio, is set to bring significant savings and clean energy to affordable housing authorities across the state.
The project, developed and owned by Nautilus Solar, is expected to reduce energy costs by over $35 million for the housing authorities over the next two decades. Nine authorities will benefit, including Newport, Cranston, Smithfield, Warwick, Warren, Bristol, and Lincoln, along with Providence and North Providence. The savings will enable these authorities to invest in property maintenance and facility improvements.
The installations utilise Rhode Island's virtual net metering program. This allows multiple utility accounts to share net energy metering credits, regardless of the system's location. The renewable energy contract provides utility bill credits for solar grid exports at the prevailing retail rate. The three installations total over 13 MW, producing approximately 20 GWh of clean energy annually, supplied to the grid within Rhode Island Energy's territory.
The partnership between Veolia, PHARI, and Nautilus, announced in 2021, has resulted in a solar portfolio that not only saves money for affordable housing authorities but also supplies clean energy to the grid. This initiative demonstrates a commitment to both financial responsibility and environmental sustainability.
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