With finite energy sources like oil and coal constantly subject to the whims of global markets, the effects of conflicts and a constant debate over energy policy, it has fallen to companies to find sources of reliable energy without negatively impacting their bottom lines. For self storage companies, the search for new energy sources has created a unique opportunity to not only act more responsibly, but to actually increase revenues.
Since 2012, StorageMart has been partnered with JCM Capital to install solar panels on the rooftops of some of our stores in the Greater Toronto Area. That partnership has led to installations on the rooftops of 14 stores, providing 3,500 MWh per year (energy capable of powering 365 homes for an entire year).
Those solar panel installations will continue to provide clean energy to the Greater Toronto Area, but now StorageMart will be partnered with PowerStream. PowerStream, a leading Canadian photovoltaic rooftop system developer, purchased the installations from JCM Capital.
“This acquisition aligns with our strategic plan and our sustainability strategies as we continue our efforts to expand our solar generation portfolio throughout 2015 and beyond,” PowerStream Board Chair Maurizio Bevilacqua said.
JCM Capital has worked closely with PowerStream to design and construct the StorageMart installations since our partnership first began three years ago. So while the names have changed a bit, we look forward to a continued mutually beneficial relationship and the continued flow of green energy to the people of Toronto. It’s the perfect example of a storage facility maximizing its rentable square footage without increasing, but rather minimizing, its carbon footprint.
“I’ve still blown away by how quickly this project came together, and I’m really excited to see how much further it can go,” StorageMart CEO Mike Burnam said. When we first entered into our partnership with JCM Capital, it was with the hope these initial installations would be just the first steps on a longer path of not only maximizing the profitability of our storage facilities, but also making StorageMart more heavily invested in the communities it calls home by showing the responsibility of working to reduce our own carbon footprint while at the same time providing a regular source of renewable, clean energy in those areas where we operate. We now look forward to taking those next steps in Ontario with PowerStream.”
Solar panel installations in the Greater Toronto Area are just one part of StorageMart’s effort to reduce its carbon footprint. In January of this year we entered into a partnership with Creative Solar to install panels on the rooftops of our stores in Northern California. Once up and running, these panels should approximately 90% of the energy used by the stores.