Think Energy VP, Stephen Condon, was recently interviewed by New Project Media (NPM) on the topic of community solar advancements under the Think Energy platform . The resulting article is available below.
ENERGYWELL EXECUTIVE DISCUSSES COMMUNITY SOLAR ADVANCEMENTS UNDER THINK ENERGY PLATFORM
Within seven months, Think Energy has taken on the subscription management of more than 50 MW of community solar projects —with no plans to slow down—as the mass market focused energy retailer targets an additional 300 to 500 MW by the end of 2024, said Steve Condon, Energywell’s Vice President of Community Solar, in an interview with NPM.
Think Energy was acquired by Energywell, an energy technology company, in September 2022. The acquisition came with a license to operate in 13 states and the District of Columbia, covering 64 electric and natural gas utility territories. Their “book of business” includes more than 45,000 residential, low-to-moderate (LMI), and commercial C&I customers, according to Condon.
“Community solar is at the forefront of our offering across all the states that we’re working in and rolling out in,” Condon said. “It’s treated as another commodity that’s available in our energy warehouse—and I would say it’s the most valuable commodity available in the market.”
Think Energy was first launched in Maine in March 2023, where they partnered with UGE International, filling projects in a matter of weeks with hundreds of customers. Their community solar offering in Maine includes a 10 percent discount for residential customers, offsetting about 90 percent of their annual electricity bill, in a dual billing system. They continue to contract between 20-25 MW in the state, according to Condon.
Next, they headed to New York where they provide a five percent customer discount, off-setting between 50-80 percent of their annual electricity bill, in a consolidated bill with their utility.
Now they’re headed to New Jersey, where they just signed their first contract in the state, and they’re preparing to roll out in Maryland and Illinois over the next year. Condon said he’s also excited about potential new markets, including…
*This story was originally published exclusively for NPM subscribers last month.
New Project Media (NPM) is a leading data, intelligence and events company dedicated to providing origination led coverage of the renewable energy market for the development, finance, advisory & corporate community.