THE PROJECT
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 be complete and in operation by 2022 and will generate 11.7 Megawatts (MW) of power.
The installations will generate an estimated 574 gigawatt-hours (GWh) over the life of the project, which:
- Creates enough electricity to take nearly 49,000 homes off the grid
- Is the equivalent of burning over 450 million pounds of coal
- Sequesters the same amount of carbon from the atmosphere as over 499 thousand acres of forest
- Offsets the CO2 emissions generated from consuming 45 million gallons of gasoline annually
ABOUT SUMMIT RIDGE ENERGY
Summit Ridge Energy is the leading owner-operator of U.S. community solar projects. The team has been a strong force within the U.S. commercial solar market for years and was instrumental in creating “virtual” solar power purchase agreements and associated financing structures. Summit Ridge Energy has leveraged this experience to launch Summit Ridge Capital, a dedicated funding platform that acquires pre-operational projects within the rapidly growing community solar energy sector. Follow Summit Ridge Energy on LinkedIn and Twitter for updates, or learn more at srenergy.com.