Public Storage, the nation’s leading self-storage owner, and Solar Landscape, a leading commercial and industrial rooftop solar developer, announced a new multistate community solar partnership with 57 community solar installations aimed at making affordable renewable energy accessible to low- and moderate-income (LMI) residents across Maryland.
The 133 community solar installations in Maryland, New Jersey, and Illinois will cover more than 4.5 million square feet of Public Storage facility rooftops and power over 10,000 homes with renewable energy. The 87.53-megawatt clean energy portfolio is one of the largest in the nation.
Public Storage’s 57 community solar installations in Maryland will serve nearly 2,600 homes, making it the largest portfolio of projects from a single company in the Maryland Community Solar Pilot Program’s LMI subcategory. These projects will save Maryland residents nearly $1,000,000 annually on energy bills.
Under the arrangement, Public Storage receives lease income from Solar Landscape, which will install its solar panels on the rooftop space. For its part, Public Storage has to ensure that its rooftops are in secure condition, with a significant amount of useful life remaining, according to John Sambuco, president of asset management at Public Storage.
According to a Public Storage release:
By subscribing, residents in these states will receive discounted electricity, bringing savings to their energy bills. This means underserved customers can benefit from renewable energy without the need to install solar panels on their property. It also removes the barrier of costs associated to these projects.
Public Storage is not only focused on helping customer with storage solutions, but also on making a positive impact on the environment and society, said John Sambuco, the company’s President of Asset Management.
“From our CEO and CFO to everyone throughout the organization, all are really onboard with these efforts,” Sambuco shared.