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Self-Storage REIT Public Storage Expands Community Solar Program in Northern Illinois
['Iss Staff']
insideselfstorage
Public Storage Inc., a self-storage real estate investment trust and facility-management company, is partnering with electric-utility provider Commonwealth Energy Company (ComEd) and Solar Landscape, a distributed-energy infrastructure company, to develop 60 rooftop, community solar projects in Northern Illinois over the next two years.
Together, the panels from these projects will deliver 44 megawatts (MW) of solar energy, boosting grid capacity and creating opportunities for customers to lower their energy costs, according to a press release.
“Public Storage maintains the largest solar-energy program in our industry and is expected to expand to 1,300 of our properties by the end of 2026.
Based in Glendale, California, Public Storage has interests in 3,546 self-storage facilities in 40 states, with approximately 259 million net rentable square feet.
The company also announced that it will acquire Public Storage Canada for $1.2 billion in the second half of the year.