Solar projects across the United States are reaching development milestones, securing funding, changing ownership and more.
While the current policy climate presents challenges, in the near-term projects are expected to be accelerated to secure federal tax credits.
“Solar installations are expected to increase in 2025-2026 as developers rush to meet deadlines,” said a press statement from Wood Mackenzie. “Permitted projects are well-positioned, but unpermitted developments face growing uncertainty as permitting bottlenecks threaten to push completion dates outside eligibility windows.”
While headwinds are arising, solar fundamentals remain strong, and Wood Mackenzie forecast that the recent changes in federal industrial policy lower 10-year installations by about 17%.
Despite the dampened policy environment, Lazard analysis found that solar levelized cost of electricity beats the lowest-cost fossil fuel for new-build projects, even without tax credits. Solar represented 77.7% of new capacity added to the grid thus far in 2025, and with electricity demand expected to rise, the fundamentals for solar are still strong. Here are some examples of the solar industry charging ahead:
Estuary Power
Estuary Power announced it has reached commercial operations for the 185 MW solar and 100 MW, 400 MWh battery energy storage project called Escape in Lincoln County, Nevada.
The company said Escape’s first 70 MW phase began supplying power to Overton Power District No. 5, Caesars Entertainment and Wynn Las Vegas under long-term power purchase agreements in June, ahead of the scheduled start date. The project’s second phase, 115 MW of solar and 400 MWh of battery capacity, will begin supplying MGM Resorts International later this year, it said.
Jill Daniel, chief executive officer, Estuary Power said Escape was constructed by local Nevada workers. “Escape has created nearly 500 well-paying union construction jobs for members of union locals whose pension funds are invested in Estuary,” Daniel said.
Engie
Engie North America announced an agreement to acquire 22 net-energy metered solar energy projects in Pennsylvania totaling more than 70 MW.
The company purchased the portfolio from Prospect14, a Pennsylvania-based developer. The projects are in an early stage of development and have not yet been constructed.
“This is great news for Pennsylvania. A well-capitalized energy market leader like ENGIE investing in solar projects in the Commonwealth means more jobs, increased local tax revenue for rural communities, and enhanced reliability for the distribution grid,” said Brendan Neagle, president of Prospect14.
Engie North America is the Houston, Texas headquartered business of Engie, a global energy transition investor with 98,000 employees in 30 countries and a roughly $10 billion annual investment in net-zero technologies.
Soluna
Soluna Holdings announced it closed $20 million in funding from Spring Lane Capital to begin construction on Project Kati, a 35 MW expansion of a solar project in Texas. Soluna said it expects the funds to fully cover the project’s funding needs, including working capital.
The company said it expects to begin construction of the project in Q3 2025 and reach initial operations by Q1, 2026.
The new facility is designed to accommodate approximately 12,000 next-generation Bitcoin mining rigs. Spring Lane Capital and Soluna previously signed an agreement to extend up to $100 million of additional project-level capital for Soluna’s growing data center pipeline for Bitcoin and AI, subject to certain conditions, said the company.
EDP Renewables
EDP Renewables Distributed Generation announced it has entered a 20-year power purchase agreement with California Water Service for an onsite solar project at a water treatment plant.
The 1.75 MW solar project is expected to generate 3,800 MWh of renewable energy annually and reduce grid energy costs by an estimated $1.7 million over the 20-year term of the agreement.
Exus Renewables
Exus Renewables North America, an independent developer and operator of utility-scale projects, announced the completion of financing for the 185 MW Zia Solar Power portfolio in New Mexico.
Exus secured $149.6 million in financing for the portfolio of nine operational solar facilities located across New Mexico, including Deming, Los Lunas, Albuquerque, Moriarty, and Rio Rancho.
The portfolio is supported by long-term power purchase agreements with Public Service Company of New Mexico, Central New Mexico Electric Cooperative, Columbus Electric Cooperative and City of Rio Rancho, spanning 20 to 25 years per agreement. The financing, which closed in May, was led by ING Capital and PNC Capital Markets LLC.
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