News Solar Tax Credit

Another Successful Closing for the NT Solar Team

Written By: NTCIC

On October 1st, 2018 NT Solar joined project officials and local residents to celebrate the ribbon cutting of a $17 million solar-energy installation located in Montague, Massachusetts. Marking the teamʻs third investment of 2018, the installation transformed an underused landfill into a 6-megawatt solar array, made up of 15,000 panels that cover over 40 acres. The solar installation will reduce greenhouse gas emissions and provide income from land-lease as well as savings on the cost of power for the Town of Montague.  The Town is committed to using the savings to support their public schools.

“Making brown spaces into green spaces that also return revenue to the town to provide needed services is just a win-win,” said Steve Ellis, Montague’s town manager during the event.

NT Solar finances the transformation of sustainable communities nationwide by leveraging solar Investment Tax Credits to finance renewable energy production. To date, the group has raised over $265 million in equity invested in over 247-megawatts of solar energy projects. The power and energy savings generated from these projects are provided to offtakers including low-income residences, retirement communities, municipalities, schools and many others.

Project leaders cutting the ribbon of their project in Massachusetts 

Previously in 2018, NT Solar financed an $8 million project based in the town of Charlton, Massachusetts. The three co-located installations produced over 4.7MM kilowatt hours (kWh) of energy for local low-income housing developments. It is estimated that these housing authority offtakers will receive close to a 40% reduction in electricity costs valued at $250,000 a year and accruing over 20 years.

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