Green Stream Holdings Inc (GSFI) Sees Opportunity For Community Solar Projects in California
Company Has Developed A Lot Of Experience In Developing Community Solar Space In New York Market; Feels That Experience Will Give It Advantage In California
By: Green Stream Holdings Inc.
A recent article titled: " California Embraces A New Approach To Community Solar " said that a new law in California greatly expands the policy incentives for community solar which will reward projects that include battery storage. 1
The article said that: " Community solar is a way to allow people who don't have access to a roof that is suitable for solar panels to take part in the world of renewable energy. That includes renters, co-op and condo owners, and homeowners whose roof faces the wrong way or is shaded by trees… California has just embraced with the passage of a new law — AB 2316 — by a wide majority in the state legislature. It now goes to the governor's desk for his signature. According to Canary Media , support for the new legislation came from a broad spectrum of interest groups — solar developers, environmental justice organizations, consumer advocates, home builders, and utility workers.
By learning from successes and shortcomings in other states' community solar programs , California designed its version to benefit customers, developers, workers and the overall power system at the same time. In other words, it benefits almost all stakeholders, rather than only some."
It continued: "Since California has an abundance of solar power in the sunny hours but desperately needs it during evening hours, market forces will push community solar projects to be built with batteries in order to allow projects to sell their power when it can command the best price… California Governor Gavin Newsom still needs to sign the bill to make it a reality. When he does, it could usher in a new market for potentially hundreds of megawatts of solar production that will be stored in batteries for delivery when California's grid needs it most. The customers who save money on their bills will be funding an expansion of clean, dispatchable power that makes the grid more reliable for everyone."
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections.
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James C DiPrima, CEO