In partnership with Summit Ridge Energy, a national leader in Community Solar development, NT Solar financed over $12 million in solar tax credit investments for a portfolio of two community solar installations located in Maryland and Illinois. This is NT Solar’s second investment with Summit Ridge Energy and was made possible through NTCIC/NT Solar’s newly established Climate Impact and Revitalization Fund (CIRF). At 9.2 MW DC, the Bomber site will be the largest rooftop solar installation in Maryland

The community solar installations will provide renewable energy to thousands of residential users, each saving up to 10% of traditional energy providers. The installations are anticipated to generate 11.7 Megawatts (MW) of power.

NT Solar invested in the $12.8 million solar investment tax credits (ITCs) generated by the development of seven ground-mounted solar installations in New York, Massachusetts, and Connecticut. Lodestar Energy is an established northeast developer with more than 100 Megawatts (MW) in completed installations. The installations in New York are located in designated Opportunity Zones and Lodestar has been at the forefront of combining solar and OZ. The off-takers of the new installations will receive electricity cost savings and include public schools, towns, water treatment facilities, nonprofits, and community residential subscribers.

“We are excited to complete our fourth tax equity financing with NTCIC and are very proud of the work we’ve done as a team to bring new renewable electricity generation to local communities across the northeast.” Said Jack Funk, Managing Partner of Lodestar Energy.

In partnership with the United States Solar Corporation (US Solar), a developer, owner, operator, and financier of solar generation and storage projects with a focus on emerging markets and community solar programs, NT Solar provided an equity investment in the $43.1 million in Solar Investment Tax Credits (ITC) generated by the development of the solar sites located across Colorado.

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.

In partnership with Lodestar Energy, one of the most established Independent Owner Operators in the Northeast United States, NT Solar financed over $7 million in solar tax credit investments generated by the development of two community solar installations across Massachusetts and Connecticut. This is NT Solar’s 6th investment with Lodestar Energy.

Reaching mechanical completion in April of 2023, the combined 11.5-Megawatt ground-mount solar and solar plus battery storage systems will provide renewable energy to the City of Hartford along with six public housing authorities across Massachusetts which are responsible for nearly 3,000 affordable housing units.

The second installation, located in North Canaan, Connecticut, will participate in the CT Virtual Net Metering program and will supply electricity to the City of Hartford, CT, providing monthly electricity cost savings to the city while reducing the city’s reliability on fossil fuels.

In collaboration with partner New Energy Equity (an ALLETE company), a national solar developer and operator, NT Solar provided tax equity financing for $25.6 million solar investment tax credits generated by the development of five ground-mount solar installations in New York.

Installed in a variety of towns across New York State, the community solar installations enable subscribers to purchase a portion of the electricity produced, thereby lowering their monthly electricity costs without having to install solar panels on their homes or businesses.

In partnership with Summit Ridge Energy, the nation’s leading commercial solar and energy storage company, NT Solar provided a solar tax credit investment to support the development of two standalone Tesla MegaPack battery storage systems in New York City. This is NT Solar’s first stand-alone battery storage investment and the fourth portfolio investment with Summit Ridge Energy; both made possible through NT Solar’s Climate Impact and Revitalization Fund.

NT Solar first partnered with Summit Ridge Energy in 2020 to provide an equity investment in the solar tax credits generated by the creation of a portfolio of twelve ground- and roof-mounted sites across Illinois and Maryland, which was at one point the largest roof-mounted solar installation in the country.

In collaboration with new partner Revity Energy and NelNet, Inc., NT Solar facilitated a $45 million solar tax credit investment through its Climate Impact & Revitalization Fund. Completed in December 2023, the installation is currently the largest solar array in Rhode Island, generating nearly 70 gigawatt hours of renewable energy each year.

The Revity Energy project will provide power to corporate, municipal, university, and hospital offtakers, providing users with meaningful discounts as compared to conventional utility bills.

In 2022, NT Solar provided a tax equity investment in the $28 million solar investment tax credits (ITCs) generated by the development of seven installations in New Jersey and a follow-on expansion investment in late 2023 for two installations in New York. These were NT Solar’s first two investments in partnership with Dimension Energy, a leading developer, owner, and operator of community solar. Placing in service in late 2023 and 2024, the nine rooftop and ground-mount sites provide cost-effective community solar solutions to local residents.

This investment was made through the Climate Impact & Revitalization Fund, established in 2020 by NT Solar and its parent organization, the National Trust Community Investment Corporation. The fund represents the collective efforts of NTCIC and NT Solar in providing capital to support decarbonization and climate change mitigation projects that make clean energy accessible and more affordable to local communities.