Energy Tax Credits
$25.6 Million
Megawatts
28.04
Project Partner
New Energy Equity
Impact
Sustainability
Project Details
Community Solar
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.
Impacts
Environmental Sustainability
The 26.7 megawatt (MW) portfolio will generate an estimated 40 gigawatt-hours (GWh) over the life of the project, which is enough energy to:
5,000 homes
Take 5,000 homes off the grid annually
29 Million Pounds of Coal
Offset burning nearly 29 million pounds of coal annually
58,000 Acres of Forest
Sequester same amount of carbon as over 58,00 acres of forest
About New Energy Equity
Partnership at Work
New Energy Equity LLC, a wholly owned subsidiary of ALLETE (NYSE:ALE), develops, finances, operates, and manages solar power generation assets, providing clean electricity to commercial, industrial, municipal, and utility customers under long-term
contracts. New Energy Equity has successfully developed over 500 megawatts of solar projects and closed more than $1.2 billion in clean energy investments. To learn more, visit www.newenergyequity.com
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