Joule's Clean Energy Programs Save NY State Residents an Estimated $7 Million Since July 2021
March 9, 2022 -- As electricity rates skyrocketed through the first two months of 2022, Joule estimates that its electricity supply customers saved $7 million from July 2021 through February 2022, with $3.4 million in savings accruing in February arising from its participants in the Central Hudson utility zone due to the utility's expected 46% rate hike for electricity.
In Rockland Country, Joule's program participants saved more than $2 million through January 2022 since the program's November 2021 launch. Prior to this year, residents and businesses taking advantage of their municipal clean energy program by purchasing electricity supply or subscribing to a solar farm through Joule Assets, via Joule Community Power, have collectively saved more than $2.3 million since the first program launched in July 2019 through year-end 2021.
Beyond this, the program is also delivering environmental benefits. Participants in Joule's programs collectively have helped avoid more than 650,000 metric tons of greenhouse gas emissions since July 2019, the equivalent of the amount of carbon sequestered by 825,000 acres of forest in one year.
In 2021, Joule launched community choice aggregation programs ('CCA' or 'community choice') in thirteen municipalities, including Rochester, NY, to more than 80,000 utility account holders and program renewals under a new supply contract in thirteen Hudson Valley communities.
During the year, the company was appointed program administrator for eighteen additional communities, and as a result, will be able to offer clean energy at fixed competitive rates to 800,000 New Yorkers in 44 municipalities across the State. All but one of the municipalities with electricity supply contracts negotiated through Joule have selected 100% renewable energy as default energy supply for their communities.
Joule serves as the program administrator for the CCA programs and partners with local organizers to provide support, education, and outreach in the communities.
During 2021, Joule launched the country's first community choice (opt-out) solar program in the villages of Brockport and Lima, NY, making the benefits of solar—including guaranteed electricity bill savings—available to all, regardless of income or credit worthiness and without the hassle of having to enroll or receiving a second bill for solar. Historically offered on an opt-in basis, community solar programs allow utility customers to support solar energy generation and save on annual electricity costs without installing solar panels. By year-end 2021, Joule had enrolled more than 3,500 customers in opt-in community solar programs, enabling subscribers who actively enroll and qualify to lower their electricity costs by up to 10%. As part of the community solar offerings, Joule gives back to communities by contributing local sustainability projects through our Impact Program.
Joule CEO Jessica Stromback stated, 'We are proud to be transforming the way NY consumes energy. 2021 saw us breaking new ground with launches of the State's largest community choice aggregation program in Rochester and the first opt-out community solar program in the U.S. We are committed to developing a clean energy future for all by scaling local climate action initiatives and, indeed, 95% of our clients have chosen to upgrade to clean energy. This choice has been beneficial in helping make progress toward achieving NY's aggressive clean energy goals, but it also has saved residents and businesses an estimated $7 million over the last 8 months.'
Joule notes that community choice programs empower participating communities to leverage the collective buying power of residents and small businesses at large enough scale to negotiate better terms. CCA also provides increased consumer protection while providing residents energy options and participation flexibility. While eligible residents are automatically enrolled in community choice programs, anyone can opt out at any time.
Source: Joule Community Power
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