Finance

The projects, which are scheduled to come online in 2023, will be part of the Solar Massachusetts Renewable Target (SMART) program.

The incentives in the Inflation Reduction Act are combining with an evolving distributed generation market and investors’ greater appetite for community solar to drive an uptick in renewable project financing and deployment.

Also on the rise: Funding for second-life EV battery materials manufacturer reaches $4 billion. Model procedures for fixing distributed solar and storage interconnection. And more.

The company estimates that its technology can help residents in multi-unit buildings save up to 40% on their electricity bills.

Also on the rise: El Niño threatens U.S. winter solar generation. Sunlight Financial struggles for survival. And more.

In its recent quarterly earnings report, Sunlight Financial disclosed nearly $550 million in underwater residential solar loans, after which it executed a 20:1 reverse split to bolster their stock price, aiming to maintain it above $1/share to avert delisting.

Fewer than 5% of domestic homes are solar-powered today, as consumers list cost and confusion about IRA benefits as primary deterrents to installing energy efficient appliances and solar panels at home.

The DOE Grid Deployment Office decided to extend the deadline in response to updated disaster data, which increased grant allocations for 243 tribes to better account for the probability of climate-related disruptions on native land. 

Bolstered by private equity and the acquisition of four U.S. manufacturers, ESDEC is seeking further expansion via capital raised from public markets.

Also on the rise: Top five solar inverter vendors accounted for 71% of shipments in 2022, U.S. startup to produce perovskite glass for tandem modules and Amogy eyes commercialization of zero-emission, ammonia-powered semi-truck.