Industry study finds solar saved big bucks during July heat wave

Published: Aug. 29, 2018 at 6:25 PM EDT
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Even in the hot weather, a Vermont solar company says solar energy is helping save money.

of solar on the New England electrical grid during the July heat wave. It found wholesale costs decreased by 14 percent, which comes out to $20 million.

Massachusetts has half of New England's solar capacity. It contributed $9.3 million in savings. Vermont was next with $1.3 million. Maine and Rhode Island saved the least with $1.2 million each.

SunCommon founder James Moore says it comes down to Vermonters investing in solar.

"So on days like this, the solar on a business or a homeowner's roof is actually producing more electricity than they need. That extra electricity goes into the electric grid and is used up by their neighbors," he said.

He says the analysis also showed New Yorkers saved $10 million just in the one heat wave.