NT Solar is proud to announce its first investment with United States Solar Corporation (US Solar) to support a portfolio of seven community solar projects located in Colorado. Throughout construction of the projects, NT Solar will provide an equity investment on the $43 million of Solar Investment Tax Credits (ITC) generated by the solar projects. The projects total 46 MWdc and are expected to generate approximately 90 million kWh annually — enough to power nearly 8,300 homes per year.
NT Solar’s first investment with US Solar reflects our commitment to expanding access to clean energy while delivering meaningful community benefits. We’re especially proud to support projects that prioritize low-to-moderate income households and environmental revitalization.
US Solar is committed to community-focused energy solutions. Nearly 5,000 families will receive utility bill discounts, averaging around $600 per year in savings for each household — equivalent to cutting the average utility bill nearly in half. The developer has partnered with nonprofit Energy Outreach Colorado to connect income-qualified households with those savings. Combining environmental innovation with social equity, US Solar’s portfolio supports low-to-moderate income households and transforms landfill-adjacent land into green energy hubs, and with six of the seven projects located adjacent to the Denver Arapahoe Disposal Site landfill, the project will provide a green buffer for nearby communities.
The 45.85 MW installations will generate an estimated 90 million kilowatt-hours (kWh) annually, which:
- Creates enough electricity to fully power 8,300 homes each year
- Offsets CO2 emissions generated from burning nearly 49 million pounds of coal annually
- Sequesters the same amount of carbon from the atmosphere as over 44,000 acres of forest
- Offsets the CO2 emissions generated from consuming 5 million gallons of gasoline annually
Power in Partnerships
“Partnering with NT Solar on this community solar portfolio has enabled us to complete these projects that deliver both community and financial returns,” said Brian Lantz, Chief Financial Officer at US Solar. “We look forward to continuing our partnership and deploying capital across additional community solar markets in the near future.”
This is NT Solar’s first investment with US Solar and was made possible through NTCIC’s Renewable Investing Fund I, LLC.
About NT Solar
NT Solar, a division of the National Trust Community Investment Corporation (NTCIC), provides tax credit equity for renewable energy projects that deliver measurable community benefits. NT Solar specializes in community solar, energy storage, and projects that serve low-income households or are located in historically underserved areas. Visit www.nt.solar to learn more.
About US Solar
Founded in 2014, US Solar is a developer, owner, operator, and financier of solar generation and storage projects with a focus on emerging state markets and community solar programs. The company helps utilities, partners, communities and residents expand access to clean energy across the country and save on electric costs. With more than 300 Megawatts of completed projects and over 2 Gigawatts in development or construction, US Solar is trusted nationwide. Visit www.us-solar.com for more.
Invest With Us
Since our inception in 2012, NT Solar has helped investors navigate Solar Investment Tax Credits and reach their Environmental Social and Governance (ESG) goals. We work to pair investors with the right solar project that will bring cost-effective energy options and growth to low-income communities, improve tax efficiency, and drive ESG initiatives.
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NT Solar is thrilled to announce the addition of Mortaza Afghan to the team as Transaction Manager. In this role, Mortaza will be supporting the due diligence, structuring, and execution of renewable energy tax credit investments, working closely with investors, developers, and internal stakeholders.
Our marketing team recently sat down with Mortaza for a short interview to learn more about his background and interests.
Q: Can you talk a little bit about your educational and professional background?
A: I got my bachelor’s degree from Middlebury College in Vermont where I did a joint major in International Politics and Economics. After college, I went directly to grad school to do my master’s at The Fletcher School at Tufts University, focusing on Business for Social Impact & Political Economy, and that’s where I became interested in impact investing.
After I graduated, I worked in renewable energy finance as a tax equity investment professional. Most recently, I was a Senior Associate at a clean energy investment firm, working on a team that managed community-based solar transactions from underwriting through closing. My role included investor sourcing, coordinating due diligence, and supporting transaction execution across partnerships with high-net-worth individuals, banks, and institutional investors.
Q: What made you interested in the world of renewable energy?
A: When I was interviewing for roles after graduate school, I was looking at both impact investing firms that provide consulting services, and firms that focus more on the research side. Part of the reason I ended up going with my previous employer was the focus of the firm. They were focused on democratizing the benefits of solar and bringing solar to LMI communities. That was a direct connection between what I was looking for; a role where I could have an impact, but also be able to utilize my background in finance where I could learn more about how to structure investments that have both financial returns and also community benefit.
I think specifically with the renewable energy and solar projects that I have been a part of, I appreciate that you have a role in directing capital towards projects that help communities create green jobs, help with climate change and reducing carbon emissions, and ultimately, provide renewable energy access to communities that are usually left behind.
Q: What are some of your professional strengths and interests?
A: I would say some of my greatest strengths include transaction management, attention to detail, and the ability to coordinate across multiple stakeholders. I have helped manage transactions from early-stage diligence through closing, balancing financial analysis, third party diligence, legal coordination, and investor communication, often all at once. I’m also really comfortable working in fast-paced environments where ownership and execution are critical. I’m particularly interested in improving transaction efficiency and standardization in the tax equity and transferability markets, helping make the process more streamlined and scalable for all parties involved.
Q: Who or what inspires you the most?
A: I’m definitely motivated and inspired by organizations that are able to blend impact with financial returns, especially in the renewable energy space. When you think about impact, you may potentially see it as a competing with financial return, but in reality, they can reinforce each other. The tax equity space is a good example of how the two can work together. You can have impactful projects that help communities and also have strong financial returns that help investors. You don’t have to sacrifice returns for impact. I think that NT Solar and NTCIC both prove that model works.
Q: What are you most excited about as you step into this role?
A: My focus in my previous role was mainly on smaller scale solar projects, so I’m excited to work on and learn more about how larger scale projects work. I’m excited to work with different developers and investors as well.
I’m also looking forward to learning more about historic tax credits from my NTCIC colleagues in hopes that we’ll have opportunities to work on projects where you blend different types of tax credits. Overall, I’m thrilled to be in a role where we’re able to work on impactful projects and help our investors achieve their goals.
We’re thrilled to have Mortaza as part of the NT Solar team!
Learn more and connect with him here.
NT Solar, an affiliate and wholly owned subsidiary of NTCIC, is a leading national investment service provider, directing capital to solar and storage projects that power local communities. The team provides end-to-end support, from sourcing and diligence through closing and ongoing reporting, leveraging Renewable Energy credits to advance environmental progress and economic opportunity. More about NT Solar →
Invest With Us
Since our inception in 2012, NT Solar has helped investors navigate Solar Investment Tax Credits and reach their Environmental Social and Governance (ESG) goals. We work to pair investors with the right solar project that will bring cost-effective energy options and growth to low-income communities, improve tax efficiency, and drive ESG initiatives.
Ready to Inspire a Sustainable Future?
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Washington, D.C., July 25, 2023 – NT Solar is proud to announce the successful equity placement of over $7 million in solar tax credits generated by the development of two community solar installations across Massachusetts and Connecticut in partnership with Lodestar Energy, one of the most established Independent Owner Operators in the Northeast United States. This is NT Solar’s 6th investment with Lodestar.
Reaching mechanical completion in April of 2023, the combined 11.5-Megawatt ground-mount solar and solar plus battery storage systems will provide renewable energy to the City of Hartford along with six public housing authorities across Massachusetts which are responsible for nearly 3,000 affordable housing units.
Lodestar Energy is excited to complete our 6th investment with NT Solar. With their support, we are able to provide our community solar partners with an opportunity to make progress toward their climate goals, while also generating economic development and energy savings.
The installations developed by Lodestar Energy will generate nearly 9 gigawatt-hours (GWh) annually, which:
Power in Partnerships
As part of the hospital’s commitment to becoming a carbon-neutral health system by 2050 and 50% neutral by 2030, the hospital will utilize stored energy within the battery systems during peak hours, reducing the hospital’s demand on the grid during periods of high electricity consumption in NYC, thereby increasing grid resiliency.
Battery storage systems provide a host of benefits to both the grid and consumers, including cost savings, environmental benefits, and efficient, dispatchable delivery of electricity.
These installations will provide flexibility to the grid, a critical component of reliability and resilience, allowing utilities to integrate more intermittent renewable power sources into the grid mix. By smoothing out the delivery of variable renewable resources such as wind and solar, battery storage systems supply power produced during non-peak hours to the grid when demand is highest. As the grid’s energy supply mix gets cleaner, energy storage will be a critical dispatchable electricity resource, offsetting the need for fossil fuel peak-power plants.
The installations, which will reach commercial operation in mid-2023, were spearheaded by Summit Ridge Energy. In addition to the ITC investment, NT Solar will provide compliance, reporting, and asset management services through the investment cycle.
This is NT Solar’s first stand-alone battery storage investment and the fourth portfolio investment with Summit Ridge Energy, both made possible through NT Solar’s Climate Impact and Revitalization Fund. NT Solar first partnered with Summit Ridge Energy in 2020 to provide an equity investment in the solar tax credits generated by the creation of a portfolio of twelve ground- and roof-mounted sites across Illinois and Maryland, the largest roof-mounted solar installation in the country.
“Summit Ridge Energy and NT Solar are working together to make electric supply more resilient and provide clean energy savings for NYU Langone Hospital,” said Adam Kuehne, Chief Investment Officer, Summit Ridge Energy. “Our ongoing partnership with NT Solar supports our goal of strengthening New York City’s grid while lowering power bills for the city’s major institutions.”
To read the full PR Newswire release, click here.
About NT Solar
NT Solar, a division of the National Trust Community Investment Corporation (NTCIC), provides tax credit equity for renewable energy projects that deliver measurable community benefits. NT Solar specializes in community solar, energy storage, and projects that serve low-income households or are located in historically underserved areas. Visit www.nt.solar to learn more.
About Summit Ridge Energy
Launched in 2017, Summit Ridge Energy is the nation’s leading commercial solar company. Through its strategic partnerships and project financing expertise, the company develops and acquires pre-operational projects within the rapidly growing solar energy and battery storage sectors. In the past five years, SRE has deployed over $1.6B USD into clean energy assets. With a development pipeline of more than 2 GW, SRE will have more than 400 MW of PV online by the end of 2023, providing solar power to approximately 50,000 homes. Learn more at srenergy.com and follow us on LinkedIn and Twitter.
Invest With Us
Since our inception in 2012, NT Solar has helped investors navigate Solar Investment Tax Credits and reach their Environmental Social and Governance (ESG) goals. We work to pair investors with the right solar project that will bring cost-effective energy options and growth to low-income communities, improve tax efficiency, and drive ESG initiatives.
Ready to Inspire a Sustainable Future?
By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact