Wells Fargo has commissioned five solar projects totaling 8 MW in Colorado to create a community solar subscription program in the region.
The community solar portfolio, built by US Solar, will support the bank’s “Sunscription” program, which will serve commercial and residential customers and low-income service organizations. The arrays will also support nearly 100 Wells Fargo retail and corporate locations across Colorado.
Wells Fargo’s Colorado employees residing in the Xcel Energy and Black Hills Energy territories can also subscribe to Sunscription with US Solar and help drive the adoption of renewable energy on the local power grid, while receiving credits to lower electricity bills.
“Wells Fargo’s renewable energy strategy is to leverage our annual energy spend to support the development of net-new renewable generation assets in locations where our energy needs are the greatest. In addition to the climate benefits, projects like US Solar’s community solar gardens provide a path for underserved communities to benefit from community solar and take advantage of lower energy bills and increased energy resilience,” said Richard Henderson, head of Wells Fargo’s Corporate Properties Group. “We are excited to be able to extend the opportunity for our Colorado employees and their families to join us in supporting our communities in these ways, and driving toward a low-carbon future.”
For every Wells Fargo employee who completes their Sunscription account set-up, US Solar will make a donation to Energy Outreach Colorado to further Energy Outreach Colorado’s mission of providing more sustainable energy options for low to moderate-income Colorado residents.
“We are proud to have Wells Fargo as a subscriber to our Solar Gardens and thrilled to offer this new program to their employees. It is an exciting opportunity to support Wells Fargo’s corporate renewable energy goals while providing benefit to their employees and community,” said Erica Forsman, Vice President of Origination at US Solar. “We’re focused on investing in energy production in Colorado while increasing access to renewable energy for residents throughout the state.”
US Solar is currently developing 14 solar projects in Colorado. US Solar will be planting pollinator-friendly native vegetation at each site, which will decrease stormwater runoff, enhance soil regeneration and increase the air quality in the surrounding communities.
“We are very grateful for the donation to Energy Outreach Colorado. We believe that everyone should be able to afford their home energy costs without worry, and this gift will provide helpful solar opportunities for many vulnerable Coloradans.” Jennifer Gremmert, CEO and executive director.
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