![]() ![]() Stem Inc is one of a number of companies in the energy storage space and related fields currently looking to go publicly listed through combination with a special purpose acquisition company (SPAC). Kearsage and Stem are currently also working on two other front-of-the-meter battery and solar projects in the state, with the three projects having a combined investment value of more than US$6 million, Stem Inc said in a press release. Meanwhile the local city of Haverhill will benefit by realising energy savings and energy infrastructure costs savings, as well as earning money from the land lease and tax payments of around US$3.9 million over the project’s expected lifetime. California-headquartered Stem Inc had actually formed a high-profile partnership with Massachusetts-headquartered NEC ES to mutually expand each others' market reach and execute projects together on either coast of the US shortly before the latter company said it was exiting the industry. Kearsage develops its energy projects on municipal brownfield site land which is not suitable for redevelopment under other uses. ![]() The project has been delivered for the project’s owner and operator, developer and financier Kearsage Energy, which has been partnered with Stem since 2019 and previously executed a similar project on a landfill site in Amesbury, Mass. with now-defunct technology provider NEC Energy Solutions. Athena will perform a multitude of functions, including forecasting the wholesale market opportunities ahead and supporting compliance with the federal investment tax credit incentive conditions. Like all of Stem’s projects, it uses the company’s Athena software solution. and pairs 3.6MW of solar PV with 2MW / 9MWh AC-coupled battery storage. The new project is located on a landfill site in Haverhill, Mass. In June 2020, Stem Inc said that adding smartly optimised energy storage to solar projects in Massachusetts can boost project revenues by 50%, as it completed another 8MWh project. In 2020, Massachusetts Governor Charlie Baker also introduced the Clean Peak Standard, whereby a proportion of electricity on the grid at all times must be considered ‘clean’. Stem Inc initially targeted 28.2MWh of storage paired with solar as it entered the market. However the company also began working in the utility-scale solar-plus-storage market since mid-2019, focusing on the Massachusetts market with the state’s favourable clean energy policies including the Solar Massachusetts Renewable Target (SMART) programme among its main drivers. ![]()
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