TurningPoint Energy Expanding Community Solar into Illinois Targeting Investment in Development of Over Half a Billion in Renewable Energy Assets

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DENVER--(BUSINESS WIRE)--TurningPoint Energy, a renewable energy company focused on community solar development announced today it has expanded its community solar efforts to include the state of Illinois. The company's Midwest team is engaging with landowners interested in leasing or selling their property for solar development, residential and commercial customers interested in participating in solar projects and pro-solar communities seeking to bring clean energy to its residents.

TurningPoint Energy plans to develop more than 40 projects in Illinois over the coming years with an aggregate value of more than half a billion dollars providing bill credits that support more than an estimated 45,000 homes each year. As a community solar development company, that means the creation of meaningful construction and ongoing operational jobs along with collaboration and investment into local Illinois businesses on legal, permitting, engineering, construction and related activities to support these developments.

Additionally, for every community the company develops projects in, TurningPoint Energy makes a charitable community investment commitment that is actualized as community solar projects start and complete construction. In Illinois, the aggregate charitable investment is targeted to exceed half of a million dollars spread out amongst the communities it develops and therefore invests in as well.

In September 2021, Illinois substantially expanded its community solar program when Governor JB Pritzker signed into law S.B. 2408, "The Climate and Equitable Jobs Act." The comprehensive renewable bill created a pathway to 100% clean energy in the State by 2050, including expanding community solar for the benefit of local homeowners, businesses, municipalities, and other organizations.

"Our entrance and commitment to the Illinois community solar market is in direct response of the clear market signal provided by the State of Illinois's political leadership that it is committed to climate and equitable jobs for its energy industry forward," said Jared Schoch, President of TurningPoint Energy. "Our team has been delivering community solar to communities throughout the country, and we're excited to expand our services to communities in Illinois. These projects not only help bring clean, renewable energy to people who do not have access to solar power, such as those who may not have a suitable roof for panels, renters, or low-to-moderate income earners, but also help bring jobs, tax revenue and economic growth to the state."

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What is Community Solar?

Community solar is unique because it offers a hassle-free way for residential and business customers to adopt solar energy with zero upfront cost and without needing to install a system on their own property. For instance, renters or businesses that can't or don't want to install solar at their property can still reap the benefits of solar energy when they subscribe to a community solar project and reduce their monthly utility bill.

Who Benefits from Community Solar

According to a survey completed by the national Solar Energy Industry Association the passage of , the Climate and Equitable Jobs Act has spurred the development of over 8,400 rooftop and community solar projects and businesses expect to grow the solar workforce by 47% all by the end of this year. Other benefits include:
  • Residents and Local Businesses: Community solar subscribers can immediately save on their electricity costs with no money down while also limiting their exposure to fluctuations in high energy costs.
  • Landowners: Individual landowners who open their land up for community solar projects will benefit from thousands of dollars in annual lease payments. If you are a landowner in Illinois and would like to discuss selling or leasing your property for a community solar project, you are encouraged to contact TurningPoint Energy. (How sites are selected.)
  • Local Communities: Towns that are home to a community solar project benefit from local tax revenues. Additionally, TurningPoint Energy strives to invest in each community we work in. The company actively supports public schools, community initiatives, and non-profit organizations.
  • The Environment[i]: Community solar projects benefit the environment by reducing pollutants into the local atmosphere. The total capacity offsets the equivalent of the following pollutants for each year of operation:
  • The equivalent of over 587,953,800 pounds of carbon dioxide emissions.
  • The equivalent of over 32,441,000,000 smart phones charged.
  • The equivalent of over 57,000 gasoline powered cars driven for one year.

About TurningPoint Energy

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TurningPoint Energy is a clean energy development, advisory and investment company with solar development projects underway throughout the United States. Its principals have experience developing solar projects for utility and community solar clients totaling more than $3 billion in value over 2 GW of operating solar power plants throughout the United States within the last decade. TurningPoint Energy is a lean, privately held firm that adapts to its clients' needs and finds ways to invest in its clients and their communities…at every turning point. For more information, please visit www.turningpoint-energy.com.

[i] Carbon equivalencies provided by the EPA Greenhouse Gas Equivalencies Calculator.

Contacts

Media Inquiries:
Elaine Schoch, Vice President Marketing Communication, TurningPoint Energy
eschoch@tpoint-e.com.
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