Competitive Energy Services (CES) was hired by Piper Shores in March 2022 to identify opportunities, evaluate, and assist in entering one or more long-term Net Energy Billing Credits Agreements (NEBCAs), and to manage and audit the credits, payments, and RECs that would come from these projects. Over the second half of 2022 and early 2023 the availability of high-quality NEB solar projects was very limited due to a tightening of NEB program rules, a rapid increase in development costs and utility interconnection delays.
After an extensive search lasting more than a year, CES was able to identify an attractive solar project for consideration by Piper Shores. A customer of a high-quality solar project, Rumford Solar, needed to reduce their NEB subscription. Piper Shores was able to step-in and start realizing significant financial savings immediately, given that the project was already online and generating net energy billing credits.
An 11.93% share of the Rumford Solar project is expected to generate about 1,000 MWhs annually, about one third of Piper’s electricity consumption. The NEB credit rate and the generation from Rumford Solar will both fluctuate from year to year. As a result, the annual savings realized by Piper Shores will also fluctuate. We expect Piper Shores to retain between $40,000 and $65,000 per year over the term of this agreement.