Grid Alternatives secures $2 million for Colorado expansion16. August 2012 | Applications & Installations, Industry & Suppliers | By: Becky Beetz
U.S.-based non-profit solar company, Grid Alternatives has secured US$2 million from Wells Fargo for its expansion into Colorado.
The expansion will be officially marked between September 24 and 29, when 11 solar installations will be installed on homes erected by Habitat for Humanity of Metro Denver. In addition to generating economic benefits to Colorado, Grid Alternatives is looking to move into other U.S. states.
The Wells Fargo investment will be made over a five year period. Mary Wenzel, director of the company’s Environmental Affairs stated, "Grid’s unique delivery model offers many benefits to our communities, from decreasing electricity bills for homeowners to helping veterans and other unemployed community members gain job experience installing solar panels."
In the past, Wells Fargo has supported Grid Alternatives by helping to install residential solar systems and funding the company’s California expansion from one to seven offices. Commenting, Grid Alternatives executive director and co-founder, Erica Mackie said, "Low-income families are extremely vulnerable to fluctuations in energy prices. Our model makes solar accessible to communities that need it most – not just the cost savings but the jobs and the environmental benefits too."
To date, Grid Alternatives has installed 6.6 MW of solar across 2,304 photovoltaic systems in California. The organization has further trained more than 10,000 community volunteers and job trainees on the theory and practice of solar installation.
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