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US Solar Announces Wells Fargo's 8 MW Sunscription to Community Solar Gardens in Colorado
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Wells Fargo has partnered with US Solar to launch an 8 MW Sunscription program, aimed at promoting renewable energy in Colorado. This initiative is expected to power nearly 2,000 homes and provide utility bill credits to about 100 Wells Fargo locations in the area. Employees can also benefit by entering the program, which allows them to access solar energy without upfront costs. For each employee who sets up a Sunscription, a donation will be made to Energy Outreach Colorado to support sustainable energy options for low to moderate-income residents.
Positive
Launch of 8 MW Sunscription program enhancing renewable energy adoption.
Utility bill credits for 100 Wells Fargo locations supporting cost savings.
Opportunity for employees to access solar energy without upfront costs.
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Bank’s Colorado employees invited to join Wells Fargo in first-of-its-kind Sunscription, driving adoption of renewable energy on the local power grid while receiving bill credits that can lower their energy bills
DENVER--(BUSINESS WIRE)--
Today, US Solar announced Wells Fargo's 8 megawatt (MW) Sunscription℠ to five new US Solar Community Solar Gardens in Colorado, with enough capacity to power nearly 2,000 Colorado homes annually. The Solar Gardens, located in Xcel Energy and Black Hills Energy territories, will serve commercial and residential customers, as well as low to moderate income service organizations in the greater Colorado area. Wells Fargo’s Sunscription will provide utility bill credits for nearly 100 of its retail and corporate locations across Colorado.
The program also provides the opportunity for Wells Fargo’s Colorado employees residing in the Xcel Energy and Black Hills Energy territories to enter into a Sunscription with US Solar and help drive the adoption of renewable energy on the local power grid, while also receiving bill credits that can lower their energy bills.
A Sunscription to a Solar Garden from US Solar allows companies and individuals to benefit from solar without any upfront costs or equipment on their property. Community solar helps increase access to solar energy even for businesses and homes that are not ideally situated for a rooftop solar installation. Subscribers receive savings through a bill credit on their electric bill based on the production of the Solar Garden, while supporting the development of local, clean energy.
“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 and Denver resident. “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.”
"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."
“I really like the ability to shift my monthly energy costs to solar energy without the expense and equipment to install solar on my house,” said Clayton Sampson, Lead Commercial Loan Closing Specialist with Wells Fargo and Chair of the bank’s Colorado “Green Team.” “Wells Fargo’s partnership with US Solar got me priority access to this popular program. And the fact that there’s a guaranteed discount makes it a pretty easy decision in my mind.”
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 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.
US Solar is currently developing 14 Solar Gardens in Colorado. US Solar will be planting pollinator-friendly native vegetation at each Solar Garden, which will decrease stormwater runoff, enhance soil regeneration, and increase the air quality in the surrounding communities.
US Solar is currently subscribing its Solar Gardens for Xcel Energy and Black Hills Energy customers in Colorado. Businesses, residents, and affordable housing providers can sign up for a Sunscription at us-solar.com.
About US Solar
United States Solar Corporation ("US Solar") makes solar energy accessible with simple solutions that are as good for the wallet as for the environment. US Solar is a developer, owner, operator, and financier of solar generation and energy storage projects with a focus on emerging state markets and community solar programs. US Solar helps residents, public entities, and businesses reduce electricity costs with local, renewable energy. Additional information about partnerships with US Solar can be found at www.us-solar.com/partner. Additional information about US Solar and Solar Garden Sunscriptions can be found by visiting www.us-solar.com.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo
About Energy Outreach Colorado
Energy Outreach Colorado has been a leading expert on issues impacting low-income energy consumers for over 30 years. Through strong public and private partnerships, the statewide nonprofit has raised and leveraged millions of dollars to reduce energy costs and usage for low-income Coloradans.
The Sunscription program is an initiative where Wells Fargo employees can benefit from renewable energy without any upfront costs, receiving utility bill credits.
How much renewable energy will Wells Fargo's Sunscription provide?
Wells Fargo's Sunscription program will provide 8 MW of renewable energy, sufficient to power nearly 2,000 homes annually.
What benefits do Wells Fargo employees receive from the Sunscription?
Employees can receive bill credits that can lower their energy bills while supporting local renewable energy projects.
How does Wells Fargo's Sunscription impact low-income communities in Colorado?
The program includes a donation to Energy Outreach Colorado, which aims to provide sustainable energy options for low to moderate-income residents.
Which territories are involved in Wells Fargo's Sunscription initiative?
The Sunscription initiative involves territories served by Xcel Energy and Black Hills Energy in Colorado.
