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.
The installations will generate an estimated 9 gigawatt-hours (GWh) over the life of the project, which:
- Creates enough electricity to power nearly 1,200 homes each year
- Offsets CO2 emissions generated from burning nearly 7 million pounds of coal annually
- Sequesters the same amount of carbon from the atmosphere as over 7 thousand acres of forest
- Offsets the CO2 emissions generated from consuming 45 million gallons of gasoline annually
ABOUT LODESTAR ENERGY
Founded in 2014, by Jeff Macel and Jaime Smith, Lodestar Energy’s goal is to develop sustainable solar energy projects that are environmentally, socially, and financially successful. Since the company’s founding, Lodestar has successfully developed and placed in service more than 40 projects with a combined value of over $300 million dollars. In total, the projects offset more than 53,000 tons of CO2 and power the equivalent of more than 13,000 homes annually. To learn more about Lodestar Energy, click here.