The Bloomberg New Energy Finance report estimates that renewable energy will generate over 50% of the world’s electricity in 30 years. With more people embracing solar energy than fossil fuels, it’s no surprise that more companies now focus on creating solar products and acquiring local solar farms. Cypress Creek Renewables is one of the largest renewables company in the United States. We wanted to find out everything about this company to inform you so that you can determine the impact it has on communities.
Here’s a detailed review of what Cypress Creek Renewables does, what differentiates it from other solar companies, and its pros and cons.
What is Cypress Creek Renewables?
Cypress Creek Renewables is a company that deals with local solar projects. Cypress first started in 2014, and its main aim was to develop, build, finance, and operate solar-generating assets. The company uses a data-driven approach to find out any idle land that they can use to build solar farms ranging from 2 MW-20 MW. Cypress has the largest solar farm in the East of Mississippi River.
The company then sells the renewable energy that these farms create to local communities at lower rates compared to fossil fuels. As a company, their goal is to develop affordable and widespread access to clean energy.
Cypress Creek has offices in North Carolina, New York, Missouri, Arizona, San Francisco, Los Angeles, and California. The company works with utilities, regulators, and business development groups in the US to build new solar projects that are more than one gigawatt. Check out this video to find out more about them.
Features of the company
Cypress Creek Renewables has a proven record of coming up with different projects, building, financing them, and running solar operations with integrity. Here’s a look at some of the reasons why the company excels.
Cypress as a company has built a reputation as reputable engineering, procurement, and construction firm that has developed over 1.5 GW of affordable and clean solar. It’s also one of the largest utility-scale solar firms in the country.
The company has delivered on time and on-budget projects to the hugest utilities in the country. Cypress is unmatched in regards to its performance of efficient and safe construction of solar projects.
Vast Operation Portfolio
Cypress Creek asset management and operation has the best-in-class services for its self-managed and third-party solar facilities. The company was recognized in 2017 as one of the top 10 solar O&M providers in the US by managed capacity. They also got an award for maintaining 99% operating portfolio.
With its central location in the Research Triangle Park, Cypress Creek Control Center coordinates with operations engineers and the nationwide network field technicians. The control center is one of the North American Electric Reliability Corporation that provides critical infrastructure protection and is operated by a solar-only company.
Cypress Creek operations and maintenance have a team of knowledgeable engineers and technicians. The team uses state of the art technology including drones to identify and correct site level irregularities.
Cypress begins the process by looking for strategic locations that meet their criteria. The company evaluates factors like environmental regulations, zoning, direct solar potential, and the electric grid before settling on any one area. Cypress Creek Renewables strives to build relationships and be good neighbors with local communities to increase the value of projects in the area.
How it compares With Other Companies
Here’s how Cypress Creek Renewables compares with other companies.
Invenergy has its headquarters in Chicago with offices in Toronto and Denver. It’s North America’s independent wind power generation company. It also develops, owns, and operates power generation facilities in Europe and N. America.
The company has a track record of having profitable and longstanding relationships with suppliers, utilities, and the communities where the projects are. Invenergy has more than 20,000 megawatts of utility-scale renewable and natural gas-fueled power generation facilities in the US, Europe, and Canada. They also have more than 9,000 MW in construction and over 7,000 MW of projects in operation.
Longroad Energy Holdings
Longroad Energy has its headquarters in Boston, and it focuses on the development and operation of solar and wind energy projects all over North America. Also, the company develops, finances, and constructs renewable energy projects. Moreover, Longroad Energy Holdings has asset management services to solar and wind projects across the United States. Cypress Creek only deals with solar energy.
The company has a record of financing solar and wind projects with the primary employees and company principals sourcing capital for the projects. Majority of Longroad shareholders have extensive experience in the renewable energy sector, and this gives them an advantage in the renewables market.
Apex started back in 2009 as an independent renewable energy company. It’s based in Virginia and has over 15 acquisitions, making it one of the fastest-growing companies. The company completed the 300 MW Canadian Hills Wind Project in 2012 in Oklahoma City.
With a diversified portfolio of wind energy facilities, Apex Energy now has multiple solar PC assets in Colorado. Moreover, they have a team of experts who are responsible for the operation, development, construction, financing, and operations of wind and solar energy projects in the United States.
Sempra Energy started with an initiative to develop a smart energy infrastructure that could serve communities around the world. The focus was to create long-term sustainable growth by providing reliable and safe energy to their customers.
Sempra has over 3700 Megawatts of clean natural gas that services over 40 million natural and electric gas consumers all over the world.
First Solar is an integrated company that is one of the recognizable names in the solar industry. The company provides engineering services for solar projects and runs operation and maintenance of the completed system like Cypress Creek.
The website states that First Solar has the lowest carbon footprint among all photovoltaic technologies. They are also environmentally conscious, and all their production works at ensuring that there’s less of an ecological impact than conventional power sources.
First Solar’s proven energy solutions have a vast energy portfolio. They also have reduced the risk of fuel-price volatility while delivering an LCOE that is inexpensive. The company provides bankable PV energy solutions by integrating services, technologies, and expertise all over the solar value chain. This aspect promotes a world powered by affordable and reliable solar energy.
Unlike Cypress Creek which is four years old, First Solar began in 1999 and is known for being the first company to produce IGW in a single year. Also, it has many records for cell efficiency and CdTe thin film solar module.
SolarCity Corporation specializes in solar energy and has its headquarters in California. The company markets manufactures, and install commercial solar panels in the US. SolarCity was by brothers Lyndon and Peter Rive in 2006.
The company offers solar leasing to customers paying no upfront costs, commercial solar, solar roofing. Electric vehicle chargers among other products.
SolarCity is now part of Tesla.
Geronimo is based in Minnesota and specializes in wind energy projects all through the United States. The company has two wind farms with one under construction by Enel Green Power, one of the largest renewable energy producers in the world.
Geronimo’s partnership with EGP has seen added capital strength and expertise, all which is meant to deliver services to the communities and the customers. Like Cypress, Geronimo’s strategy is to look for solar energy solutions that meet the customer’s needs. They aim to find solar facilities at low cost and efficient locations.
Brookfield Renewables owns and operates one of the world’s largest renewable power portfolios with over 200 hydroelectric facilities. With a vast collection of solar plants, the company has over 1400 MW of utility-scale solar plants in North America, South America, Asia, and Europe. Brookfield attests their success to improved productivity and declining costs over the last ten years.
Xcel Energy is a natural gas and electricity company with an extensive portfolio of energy-related products and services. The company serves more than 1.7 million natural gas customers and 3 million electricity consumers.
With more than 35,000 miles of natural gas pipelines, Xcel Energy has a track record of being a leader in the energy industry. Most recently, the company was ranked as first in the number of customers and fifth in energy sales by National Renewable Energy Lab.
Some of the reasons that make Cypress Creek Renewables popular include:
Enhanced Community Opportunities
Cypress Creek Renewables has extensive experience in operations and maintenance. They are also knowledgeable in the semiconductor space, and they are aware of the importance of partnering with local communities.
The company shows the community how these solar projects will benefit them once they go into a new area. Some of the ways that Cypress Creek collaborates with the community is through workforce development. The company works to train future solar workers having partnered with technical and community colleges throughout the country.
Cypress takes their projects where solar is popular. Their team of qualified personnel allows them to build quick, cheaper, and efficient projects. The group consists of medium and high voltage experts and licensed electricians who all have some high level of training. Cypress is growing, and they’re always looking at who they can partner with to create more opportunities for the community. The company also has an internal training program that equips people with the necessary training.
Support for Industrial Growth
Cypress operates across the entire life cycle, and this ensures that they provide a seamless and exceptional performance in all its operations. The company combines its operating and management capabilities, development, and construction to reduce any issues that may arise. With this, the company guarantees quality results.
According to the operations manager, when a project has high operational costs, or it’s in an area with special environmental requirements, they can start the conversation at the front end. Cypress looks to integrate various initiatives at its solar farms to further support industrial growth.
Cypress Creek Renewables sends out mail to many local landowners. The letter is to invite them to agree to lease their land for use as a solar farm. Cypress pays a premium price of $1500 an acre for a year for 20 acres of land. The price tag includes property taxes once the area passes a review.
There’s an assumption that Cypress is speculating on land that could be in high demand in the future. The mailings do not consider the probability of using the leased land for solar production. The details on the proximity of the property to three-phase power line are missing.
Cypress is accused of taking advantage of the locals as any other company interested in putting up a solar array will have to bargain with the company for the use of the land. Some landowners do not read the fine print and this could have unintended consequences.
Frequently Asked Questions about Cypress Creek Renewables
What Does Cypress Creek Renewables Do?
Cypress Creek Renewables mainly deals with acquitting solar farms. These farms host a variety of ground-mounted PV solar panels. The solar farms can be small as 10 acres and large to some as massive as 100 acres. Smaller farms can generate up to 20 megawatts of solar energy. A 2 megawatts solar farm can power more than 500 homes.
What are the Responsibilities of Cypress Creek Renewables?
Cypress Creek Renewables manages all development costs, property taxes, maintenance costs, and the assessment costs associated with the solar farm.
How Does Cypress Creek Renewables Consider as Suitable Land?
The company assesses the property for proximity to a power station and utility infrastructure. Also, Cypress considers the land of more than 10 acres suitable for solar farm development.
Does Cypress Creek Benefit the Local Community?
Cypress Creek provides solar farms which act as a vital source of local revenue and investment for the communities around. The company gives jobs to locals and promotes the economic activity for businesses around like restaurants, hotels, and hardware stores.
Cypress Creek Renewables believe that solar makes the world healthier and cleaner. From its operations to development and construction, the company has various projects that benefit the communities around and the people all around the United States.
Our review of Cyprus Creek Renewables has covered pretty much everything on this topic. We have presented the pros and cons of it, as well as its responsibilities and how it benefits a community. This company certainly is heavily involved in solar farms and ensures that the projects are successful.
We'd love to hear from you if you've had any experience with Cypress Creek or even better, if they have set up operations near you. Let us know how it went and how it's benefiting the community. If you have any other questions, please don't be afraid to get in touch. Although this was a review of Cypress Creek, we'd like you to get involved by sharing your thoughts.