Worcester Business Journal

wbjournal.com | October 2, 2017 | Worcester Business Journal 15 Bank Investment Consultant has recognized Chris Nardone as one of the country's top 25 program managers, and United Northeast Financial Advisors as one of the country's top growing programs. It's their expertise and commitment that helps us build meaningful relationships, deliver tailored financial solutions, and give you everything you'd expect to find at a big institution—with the personal service of a local partner you can trust. Call or go online to schedule an appointment today. AN AWARD-WINNING TEAM TO HELP YOU SUCCEED 866.959.BANK (2265) bankatunited.com/UNFA Chris Nardone - Top 25 Program Manager Recipient by Bank Investment Consultant Magazine Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. United Northeast Financial Advisors is a trade name of the bank. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value. For more information about a particular non-deposit investment product, ask for a prospectus. Please read it carefully prior to investing. E N E R G Y F O C U S *Estimate Source: Solar Energy Industries Association Massachusetts has generated far more solar power in recent years, with growth projected to continue. Mass. solar capacity 0 100 200 300 400 500 2010 2011 2012 2013 2014 2015 2016 2017* 2018* 2019* 2020* 2021* TOTAL Non-residential Residential Utility scale Massachusetts annual installed solar capacity, in megawatts 0 4,000 8,000 12,000 16,000 2012 2013 2014 2015 2016 Massachusetts solar jobs by year: Installation 48% Project devlopment 23% Manufacturing 14% Other 6% Sales & distribution 9% Note: As of 2016; Worcester County has 451 solar-related jobs. Middlesex County has 4,390. Source: The Solar Foundation The mix of solar industry jobs in Massachusetts Jobs breakdown Total jobs: 14,582 Panel costs could increase Solar companies are also watching potential changes that could lead to spikes in the cost of solar panels. The U.S. International Trade Commission ruled Sept. 22 cheaper imported panels were hurting American manufacturers. In reports, solar companies were said to be expecting new tariffs on those imports. The commission is expected to make a recommendation on action this fall. Judson said she was disappointed in the vote, and the Department of Energy Resources released a statement after the vote saying higher costs could jeopar- dize the state's progress on solar energy. The hidden energy Central Massachusetts's solar arrays are almost entirely out of sight – on roofs, former landfills or off-the-beat- en-path sites – making it hard for resi- dents to realize how widespread the systems have become. "Ninety-five percent of our work never gets seen because it's on top of a warehouse or an office building," said Craig Huntley, one of three co-founders of Hopkinton's Solect Energy and now its chief development officer. Such projects have popped up seem- ingly everywhere in Central Massachusetts in recent years. Since the start of 2014 alone, a range of projects have come on-line: a nine- megawatt complex off Auburn Street in Leicester, a five-megawatt project east of Main Street in Oxford, and a 4.5-megawatt project off Shirley Road in Lancaster among them. Dennison Lubricants added solar panels to the roof of its roughly 40,000-square-foot manufacturing and distribution center on Millbury Street in Worcester. "Obviously, the state incentives didn't hurt the process, but we always want to do more with less," owner Tim Dennison said of the company's $1 mil- lion-plus solar array that's meant to save money and be better on the environ- ment. "We generate more than we use." The largest municipally owned solar program in New England opened in August at the former Greenwood Street landfill in Worcester, spanning 25 acres. There are far more places to grow. SEIA forecasts more than 400 new solar systems this year, and more than 300 in each of the next four years. The state's total solar capacity is expected to more than double in the next five years, with more than 2,000 megawatts added. W

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