$500M+ raised to build clean power plants for low income communities

In a major win for affordable clean energy access, solar developer Nexamp has raised an impressive $520 million to build community solar projects across the United States.

This funding is “one of the largest capital raises to date for this growing sector,” according to Canary Media.

Community solar allows renters, small businesses, and other organizations to benefit from solar energy even if they can’t install panels on their own property. Participants pay a monthly fee to subscribe to a local solar farm and then receive credits on their utility bills for the clean power generated. Those credits are typically larger than the subscription fee — meaning savings for subscribers.

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Source: The Cool Down

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