Ameresco Announces Completion of 27-Megawatt Solar Farm in Village of DePue, IL
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An analysis of Ameresco's new solar farm from an environmental economics standpoint highlights several key aspects. The projected production of 37,000 megawatt hours of emission-free energy aligns with broader sustainability trends and the increasing demand for green investments. This project directly contributes to Illinois' renewable energy goals and should be seen as a positive signal for investors interested in the cleantech sector.
From a cost-benefit perspective, the solar farm's ability to offset substantial CO2 emissions provides long-term environmental benefits that may translate into economic incentives, such as carbon credits. Additionally, the increase in property tax revenue for Bureau County and energy cost savings for the Village of DePue indicate a favorable financial impact at the local level, which may encourage similar investments in other regions.
As an energy market analyst, the completion of Ameresco's solar farm represents a strategic move in the energy sector, enhancing the company's portfolio in renewable energy. The scale of this project, being the largest in Bureau County, is a notable development that could influence regional energy markets and pricing.
The long-term implications for Ameresco's stock could be positive, as investors increasingly favor companies with robust renewable energy assets. The project's completion may also stimulate competition among energy firms, potentially leading to further innovation and cost reductions in solar technology. This development is indicative of a shift towards more sustainable energy production methods, which could reshape the energy market's dynamics in the coming years.
Examining the project through a renewable energy policy lens, the DePue solar farm's alignment with Illinois' goal of reaching 25 percent renewable energy by 2025 is a significant milestone. It demonstrates the effectiveness of state-level policies in driving renewable energy developments. The solar farm serves as a model for brownfield site redevelopment, showcasing how policy incentives can lead to beneficial reuse of land while supporting clean energy initiatives.
This project could serve as a case study for policymakers looking to balance economic development with environmental sustainability. The collaboration between Ameresco and local government entities could provide a framework for public-private partnerships in future renewable energy projects, potentially influencing policy at both state and federal levels.
The solar farm’s more than 65,000 photovoltaic panels are estimated to produce 37,000 megawatt hours of green, emission-free energy in its first year of operation
Ameresco representatives present check for one time donation to the Village of DePue as a part of the project for beneficial reuse of the landfill and community support of clean energy. (Photo: Business Wire)
The DePue solar farm consists of 65,832 solar photovoltaic (PV) panels strategically installed on ballast blocks entirely above ground and is estimated to produce 37,000 megawatt hours of green, emission-free energy in its first year of operation. Ameresco has served as the developer, builder and owner of the solar farm on the brownfield site and began development plans in October 2019.
“We’re so glad to have seen this important renewable energy project through to completion and commend the Village of DePue and the state of
DePue’s solar farm is projected to offset 25,947 metric tons of CO2 annually, which is equivalent to taking 5,509 passenger vehicles off the road for one year or powering 3,280 homes for a year. As the solar facility’s owner and operator, Ameresco will remain in the community to provide maintenance and support services for the life of the facility.
“I’m so proud that the Village of DePue is now officially on the path toward achieving our clean energy goals and making a tangible environmental impact for our community and the state” said Daniel Hoffert, Village President. “This project epitomizes our commitment to forging a sustainable future while driving economic prosperity for our residents and the region.”
With the completion of the project, the Village will benefit from a portion of the energy generated for facility usage, resulting in significant annual energy cost savings throughout the life span of the installation, in addition to permitting fees collected throughout the site’s development process.
To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers decarbonize to net zero and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in
The announcement of the completion of a renewable energy asset by Ameresco is not necessarily indicative of the timing or amount of revenue from such asset, of the company’s overall revenue for any particular period or of trends in the company’s overall total assets in development or operation. This asset was included in our previously reported assets in operations as of September 30, 2023.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240117848445/en/
Media:
Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com
Source: Ameresco, Inc.
FAQ
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