Supporting Cities at the Forefront of Climate Action
By Anna Sorokina, Investment Intern
Cities across the nation are on the forefront of the fight against climate change – enacting policy to promote sustainability and finding ways to generate clean energy. This comes as no surprise as the urban population is projected to grow over the years. With cities responsible for creating 70% of global CO2 emissions, the need to act is more relevant today than ever.
Our hometown of Somerville, MA, is building a clean energy future through a broad array of programs, including becoming more energy efficient and going carbon-neutral by 2050. In taking a step to achieve this, Somerville turned to Sunwealth to purchase solar power from four of our solar projects in and around Somerville – Windsor at Cambridge Park, Dorchester Bay Economic Development Corporation, Windsor at Maxwell’s Green, and Greentown Labs. From a LEED Gold certified apartment complex to the nation’s largest clean technology incubator, this diverse group of projects now helps reduce the City’s dependency on fossil fuels and brings Somerville a step closer to achieving its sustainability goals.
“What is exciting about these projects is that the City Council will use the energy savings to further other environmental initiatives in Somerville, like funding energy efficiency upgrades and buying Renewable Energy Credits,” says Oliver Sellers-Garcia, Director of Sustainability and Environment for the City of Somerville. “The sun gives us limitless energy and significant savings to keep making the city more sustainable.”
The lifetime impact of just these four projects is significant: With 31M kWh of clean power produced, 23K metric tons of carbon reduction, 32.31 solar job years created, and 2.16M in energy savings – as well as a number of long-term benefits to the residents, such as increased energy independence and cleaner air – purchasing locally-generated, clean power should be at the forefront of every city’s climate action plan.
For Sunwealth and its investors, the City of Somerville’s commitment to create a clean energy future provides an opportunity to directly invest in strengthening our hometown – and make projects like these a reality. Investing in clean energy means not only putting solar power on roofs, but also supporting cities in further climate action that can result from significant energy savings. This means providing initial capital that will grow in reach and impact as the sun continues to power homes, houses of worship, community centers, and local businesses.
Facing increased vulnerability as a result of extreme weather events and sea level rise, cities cannot wait for the Green New Deal to act – and neither should we.
Want to invest in resilient communities like Somerville? Email us at email@example.com.
About the Author
Anna Sorokina is an Investment Associate co-op at Sunwealth and a senior at Northeastern University. She is passionate about renewable energy and believes in the power of education, art, and personal action when it comes to our responsibility for Mother Earth.