Summit Ridge Energy (SRE) today announced an additional 25 of its community solar farms achieved commercial operation across Illinois during the fourth quarter of 2020, bringing the company’s total in the state to 42 and highlighting the resiliency of renewable energy amidst the nation’s broader economic downturn. The company owns more than 90 community solar projects across the United States and plans to start construction on another 25 by the second quarter of this year.
“Our ability to move forward with so many projects in 2020 is testament to the demand for affordable solar energy, despite the economic damage caused by the COVID-19 crisis. ESG investing continues to gain momentum across multiple industry sectors, including renewable energy,” said CEO Steve Raeder. “Community solar in particular stimulates local economic growth, provides savings to customers of all income levels and will continue to play a critical role in job creation as the nation regains its footing following this terrible pandemic.”
Democratic State Representative Ann Williams, a leader on Illinois renewable energy issues, added, “the growth and resiliency of renewable energy in Illinois, and in particular solar energy as illustrated by the success of Summit Ridge Energy and others, underscores the need to pass legislation in this upcoming session to meet our long-term energy goals. Renewable energy is the future and Illinois should continue to be a national leader in facilitating its growth.”
By the end of 2021, Summit Ridge Energy will have nearly 200 MWdc of operational community solar projects across the country, providing aggregate annual electricity savings of approximately $2.5mm to over 30,000 households.
About Summit Ridge Energy
Summit Ridge Energy is the nation’s leading owner-operator of community solar assets. Through dedicated funding platforms, the team acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. Follow Summit Ridge Energy on LinkedIn and Twitter for updates, or learn more at srenergy.com.
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