Energy Tax Credits
$3.3 Million
Megawatts
1.31
Total Project Cost
$8.6 Million
Project Partner
Prometheus Power Group
Impact
Sustainability
Project Details
Affordable Clean Energy Solutions
In partnership with the Prometheus Power Group, a Michigan-based developer with a focus on Community Solar initiatives, NT Solar provided an equity investment in the $3.3 million in Solar Investment Tax Credits (ITC) generated by the development of the solar site in Eastport, Maine. This is NT Solar’s first investment with Prometheus Power Group and ninth collaboration with investor PeoplesBank.
The Eastport project will serve a mix of residential and commercial subscribers through Maine’s Community Solar program, offering a 15% fixed discount on all allocated bill credits. The project also qualifies for the 10% Domestic Content adder under the Inflation Reduction Act, supporting U.S.-based manufacturing by utilizing domestically manufactured panels.
Impacts
Environmental Sustainability
The 1.36 MW installations will generate an estimated 1.77 million kilowatt-hours (kWh) annually, which:
135 Homes Annually
Creates enough electricity to power nearly 135 homes each year.
860,000 Pounds of Coal
Offsets CO2 emissions generated from burning nearly 860,000 pounds of coal annually.
784 Acres of Forest
Sequesters the same amount of carbon from the atmosphere as over 784 acres of forest.
87,000 Gallons of Gasoline
Offsets the CO2 emissions generated from consuming 87,000 gallons of gasoline annually
About Prometheus Power Group
Partnership at Work
Prometheus Power Group is a developer and operator of community solar projects in the Northeastern, Mid-Atlantic, Midwestern, and Mountain West of the United States. The team has 150 MW in projects developed or in their near-term pipeline.
Prometheus led the acquisition of the Eastport project from the original project developer, MidCoast Solar LLC, to their operating venture, Nugenics Solar LLC. To learn more about Prometheus Power Group, click here.
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