Summit Ridge Energy (SRE), owner and operator of solar projects in the United States, and NT Solar, a subsidiary of National Trust Community Investment Corp. (NTCIC), have entered into a tax-sharing partnership to fund 11 solar projects in the community of 27 MW DC in Illinois and Maryland. The portfolio is expected to be operational before the end of the year.
“We believe in the value of making solar power available to commercial and residential customers in multiple communities,” said Karin Berry, manager of NT Solar. “The cost savings and the environmental benefits will make a difference in the years to come.”
Summit Ridge currently has 47 projects in operation or under construction in the United States. Another 25 are scheduled to begin construction by the end of the second quarter of 2021. This corresponds to a direct current output of approx. 183 MW DC, which will be in operation by the end of 2021. Estimated Annual Cost Savings for Customers Subscribing to These Projects Will Be More than $ 1,500,000.
Despite the COVID-19 crisis, Community Solar remains the fastest growing segment in the US solar market, largely driven by predictable customer savings without the need to physically install solar systems in the home or business.
SEIA reports that with the right federal and state policies, the solar industry will keep more than half a million Americans busy by 2025. With the future Biden government prioritizing the transition to a clean energy economy, this forecast could increase significantly.
Photo: SRE landing page