Thursday, June 13, 2013

Standard Solar commits to Clinton Global Initiative for innovation and growth in solar PV

USA: Building on the success of its first Clinton Global Initiative (CGI) Commitment to Action, Standard Solar, a leader in the full-service development, construction, integration, financing and installation of solar electric systems, announced a second commitment as part of the Clinton Global Initiative America (CGI America) meeting.

CGI is an initiative of the Clinton Foundation that convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges. During CGI America, being held this week in Chicago, Standard Solar is pledging a two-pronged commitment to address the industry challenge of fully integrating photovoltaics (PV) with the grid:

1) it will work with innovative companies to develop and demonstrate new products and technologies that enhance markets, reduce costs, and/or promote new revenue streams for solar PV.

2) continue the Company’s commitment to rapid growth to achieve the scale necessary to compete with grid-supplied power.

As its first project under this commitment, Standard Solar is working with Solar Grid Storage (SGS) to co-locate a grid-interactive energy storage system with a new PV installation, creating one of the nation's first commercial micro-grids. The 402.3kW system, financed by the Kingdon Gould Jr. family, is located at the Konterra Headquarters Building in Laurel, Maryland.

This innovative system has the potential to reduce PV project costs and offers new benefits to hosts including backup power, demand reduction and peak shaving. Moreover, the system can enhance grid reliability by helping balance the grid through frequency regulation, volt-ampere reactive (VARs) compensation, and demand response services. The system is scheduled to be operational by the fall of 2013.

Standard Solar intends to allocate $10 million to innovative efforts over the next five years, and will make annual CGI commitments for individual projects.

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