Half a Billion Dollars to Build Community Solar?

photo of dollar bills meant to symbolize major investments in community solar developments across the nation

When it comes to good news for community solar developments across the country, the stories don’t get get much better than this:

Nexamp, a community solar developer and project owner, has secured a whopping $520 million to install solar arrays around the nation in one of the largest capital raises to date for this growing sector.

Community solar gives renters, small businesses and organizations the chance to benefit from local solar power even if they can’t put panels on their own roofs. The approach has helped households across more than 20 states access solar that they wouldn’t otherwise have been able to. The Department of Energy aims for 5 million households around the country to sign up for community solar by next year.

Policies differ state-by-state, but typically, community solar subscribers pay a monthly charge and then receive a credit on their utility bills for the power generated by their fraction of a solar array. This credit is usually larger than the fee they pay. In many states, community solar has gained bipartisan support because of its benefits to low-income households now burdened by disproportionate energy bills.

Canary Media, April 2024, “Nexamp nabs $520M to build community solar across the US”

Community solar projects are important to the equitable and inclusive future of clean energy because they allow participants to benefit from solar power without needing to install panels on their own property. Instead, they can subscribe to a share of a larger solar project located offsite.

This arrangement is particularly beneficial in states with supportive community solar legislation, as these laws typically include mechanisms for billing and crediting participants for the energy produced, making solar more accessible and financially viable for a wider audience.

Because Indiana does not have a law allowing independent community solar, we risk losing clean energy jobs and economic investment, and our state will not be able to fully harness the power of the sun as quickly as states that have embraced community solar for all.

Click here to learn more about community solar and send a message to Hoosier lawmakers that you’d like them to consider independent community solar legislation in Indiana.