Green Stream Holdings Inc (GSFI) Sees Opportunity For Community Solar Projects in California

Rhea-AI Summary

Green Stream Holdings Inc. (GSFI) announced its optimistic outlook on California's community solar market, leveraging its extensive experience in New York. The recent passage of law AB 2316 enhances incentives for community solar, particularly those integrating battery storage. This law could open up significant opportunities for solar production in California, potentially leading to hundreds of megawatts being stored for peak demand. Green Stream is positioned to capitalize on this development, thanks to its prior successes and groundwork laid by its late founder.

Positive

• Green Stream has significant experience in community solar development, which may provide a competitive edge in California.
• California's new law AB 2316 expands incentives for community solar projects with battery storage, opening new market opportunities.
• The potential for hundreds of megawatts of solar production could enhance revenue prospects for Green Stream.

Negative

• None.

Company Has Developed A Lot Of Experience In Developing Community Solar Space In New York Market; Feels That Experience Will Give It Advantage In California

NEW YORK, NY, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Green Stream Holdings Inc. (OTC PINK: GSFI) ("the Company") (https://greensolarutility.com), an emerging leader in the solar utility and finance space, today commented on California’s entry into community solar market, saying that California’s entry bodes well for the Company as it can utilize its experience in the community solar market in New York.

A recent article titled: “California Embraces A New Approach To Community Solar” said that a new law in California greatly expands the policy incentives for community solar which will reward projects that include battery storage.¹

The article said that: “Community solar is a way to allow people who don’t have access to a roof that is suitable for solar panels to take part in the world of renewable energy. That includes renters, co-op and condo owners, and homeowners whose roof faces the wrong way or is shaded by trees… California has just embraced with the passage of a new law — AB 2316 — by a wide majority in the state legislature. It now goes to the governor’s desk for his signature. According to Canary Media, support for the new legislation came from a broad spectrum of interest groups — solar developers, environmental justice organizations, consumer advocates, home builders, and utility workers.

By learning from successes and shortcomings in other states’ community solar programs, California designed its version to benefit customers, developers, workers and the overall power system at the same time. In other words, it benefits almost all stakeholders, rather than only some.”

It continued: “Since California has an abundance of solar power in the sunny hours but desperately needs it during evening hours, market forces will push community solar projects to be built with batteries in order to allow projects to sell their power when it can command the best price… California Governor Gavin Newsom still needs to sign the bill to make it a reality. When he does, it could usher in a new market for potentially hundreds of megawatts of solar production that will be stored in batteries for delivery when California’s grid needs it most. The customers who save money on their bills will be funding an expansion of clean, dispatchable power that makes the grid more reliable for everyone.”

The Company said that Green Stream has developed a lot of experience in developing community solar space in New York market and with that experience, Green Stream Holdings will be able to have a leg-up in the California market. In California, the groundwork was started by its late founder Madeline Cammarata.

About Green Stream Finance, Inc.

Green Stream Finance, Inc., a solar utility and finance company with satellite offices in Malibu, CA and New York, NY, is focused on exploiting currently unmet markets in the solar energy space, and is currently licensed in California, Nevada, Arizona, Washington, New York, New Jersey, Massachusetts, New Mexico, Colorado, Hawaii, and Canada. The Company's next-generation solar greenhouses constructed and managed by Green Rain Solar, LLC, a Nevada-based division, utilize proprietary greenhouse technology and trademarked design developed by world-renowned architect Mr. Antony Morali. The Company is currently targeting high-growth solar market segments for its advanced solar greenhouse and advanced solar battery products. The Company has a growing footprint in the significantly underserved solar market in New York City where it is targeting 50,000 to 100,000 square feet of rooftop space for the installation of its solar panels. Green Stream is looking to forge key partnership with major investment groups, brokers, and private investors in order to capitalize on a variety of unique investment opportunities in the commercial solar energy markets. The Company is dedicated to becoming a major player in this critical space. Through its innovative solar product offerings and industry partnerships, the Company is well-positioned to become a significant player in the solar space.

Forward-Looking Statements:

This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of technical, installation, permitting or other problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Green Stream Finance, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Green Stream Finance, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

For All Inquiries Contact:
president@greenstreamfinance.com 

Website: greensolarutility.com

SOURCE: Green Stream Holdings Inc.

[1] https://cleantechnica.com/2022/09/11/california-embraces-a-new-approach-to-community-solar/

FAQ

What does Green Stream Holdings Inc. (GSFI) say about California's community solar market?

Green Stream believes its experience in New York's community solar market will give it an advantage as California expands its community solar initiatives.

What is law AB 2316 related to Green Stream Holdings (GSFI)?

Law AB 2316 significantly enhances policy incentives for community solar projects in California, which could benefit Green Stream by allowing integration of battery storage.

How might the new law in California impact Green Stream Holdings' business?

The new law could enable Green Stream to tap into a rapidly developing market for community solar, potentially leading to increased revenues and project opportunities.

What are the potential benefits for customers from the new California community solar law?

Customers could save on their energy bills, while benefiting from an expansion of clean, dispatchable solar power that enhances grid reliability.