Dive Brief:
- A new study from California-based investment firm Wiser Capital estimates there are more than 274,000 commercial buildings in the Northeast which would be appropriate for solar power installations, potentially yielding about 95,000 MW of capacity, Greentech Media reports.
- The study examined solar potential in New York and Massachusetts, to determine the Northeast region could potentially see $67.5 billion in investment.
- The firm sees mid-tier commercial solar developments as an "untapped market" largely because financing options have lagged, but said a better understanding of solar economics has the potential to shift the balance.
Dive Insight:
A new study that looks at solar potential in the Northeast concludes a large market has been largely neglected, as solar developers focused on residential and utility-scale power. Assuming an average mid-sized solar system of 350 kW, the firm believes the Northeast's suitable commercial buildings have 94,733 MW of untapped solar potential.
"The mid-scale solar market is ripe for expansion in the Northeast," the report concluded. "A solid mix of available space, potential savings, and investment appetite combine to attract financiers to the market."
Wiser estimates that just New York represents a potential investment of $20 billion, and Massachusetts would require $11.5 billion to put solar panels on all appropriate commercial rooftops. Extrapolating those figures, the firm sees a $67.5 billion investment potential in the region. But it isn't just space and sun -- Wiser said the region stands out as a strong investment possibility because policies in place make solar viable.
utility bill by 17.75%.