New legislation and investors: Summit Ridge Energy on US solar

Facebook
Twitter
LinkedIn
Reddit
Email
A rooftop community solar project from Summit Ridge in Maryland. Image: Summit Ridge Energy

New legislation and fresh investors have made a significant impact on the US solar sector, according to Summit Ridge Energy (SRE) co-founder and chief operating officer Brian Dunn, who spoke to PV Tech Premium yesterday.

Dunn explained that “it’s always good to diversify your partners,” speaking in the wake of SRE expanding a financing deal with Japanese financier MUFG to raise US$275 million for 30 community solar projects in the US states of Illinois and Virginia.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The involvement of a foreign investor in this manner provides new opportunities for solar developers, and Dunn spoke about the range of new backers for SRE, from non-bank lenders to banks of a range of size and scopes, whose involvement has supported a number of new projects in the company’s portfolio.

Dunn also noted that maintaining good relationships with these new financiers is of “the utmost importance” in the modern energy sector, and described how SRE has worked to cultivate and maintain good relations with a range of investors. Considering the sums of money now being invested into the global solar sector, ensuring good relations with colleagues and collaborators across the solar supply chain has become a fundamental part of many companies’ businesses.

Other key changes to the US solar sector include the recent wave of legislation passed, headlined by the Inflation Reduction Act (IRA). Dunn praised the IRA for fixing the investment tax credit at 30%, enabling people to receive tax credits for installing residential solar panels, and this combination of supportive legislation and new working relationships could be of benefit to the solar sector as a whole.

Read Next

June 30, 2025
Heliene has completed the sale of Section 45X Advanced Manufacturing Production Tax Credits in association with Minnesota-based U.S. Bank.
June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.
June 27, 2025
PV Tech spoke to Monika Paplaczyk about recent changes in the UK energy mix and opportunities for investors in the solar sector.
June 26, 2025
Adapture Renewables and Meta have signed two EAPAs that will see the latter acquire power from a 360MW Texas solar portfolio.
June 25, 2025
First Solar has sold US$311.8 million in tax credits to “a leading financial institution” under the rules set out in the IRA.
June 17, 2025
US tax credits for solar PV, wind power and electric vehicles are facing dramatic cuts, while those for energy storage are sustained.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece