Investment brings affordable solar energy to New York residents

November 29, 2019

Spencer-Tioga Aerial 

Through an Environmental Solutions Fund investment in True Green Capital Fund III, Mercy Investment Services is supporting community solar projects that increase solar power energy production and boost the local economy through development, construction and operation of solar farms and energy generation plants.

The fund’s 120 megawatts community solar portfolio in New York will serve more than 12,000 households, from Buffalo to Binghamton.  Renters, homeowners, and local businesses who enroll as members of a community solar farm can access clean energy credits that offset up to 100% of their electricity costs without the need to install expensive rooftop panels. As of September 30, 2019, this portfolio has 11 projects interconnected, and is expected to produce approximately 50,000 megawatt hours per year, with an additional 24 projects in construction.  In total, the fund’s community solar portfolio is expected to be approximately 120 megawatts, enough power to provide clean electricity to approximately 12,000 households. 

In addition to strong local government and community support, the project has created hundreds of local construction jobs and has contributed funds to more than 40 clean energy partners, volunteer fire stations, libraries, towns, non-profit organizations and local municipal activities. Learn more in this video.