Key Takeaways
- Black Bear Energy facilitated the energization of a 1.29 MW solar installation developed by Dimension Energy at New York Life Investment Management's facility in Elizabeth, New Jersey.
- The installation is expected to produce approximately 1.5 million kWh of clean energy annually and is supported by the New Jersey Community Solar Energy Program.
- More than 50% of the project's subscribers are low- to middle-income households, who will receive discounted power and a guaranteed utility bill credit of 25% or more.
- This is the second energized project between NYLIM and Black Bear Energy since their partnership began in 2018, with more projects expected.
- Black Bear Energy President Victoria Stulgis said the project delivers economic benefits to NYLIM and the surrounding community while supporting grid resilience.
Black Bear Energy Energizes New Jersey Solar Project
Black Bear Energy, a national commercial buyer's representative focused on onsite renewable energy, said it facilitated the energization of a new 1.29 MW solar installation developed by Dimension Energy at New York Life Investment Management's (NYLIM) 5-61 Bay Avenue facility in Elizabeth, New Jersey. The installation is expected to produce approximately 1.5 million kWh of clean energy annually.
How the Project Benefits New Jersey Households
The project is supported by the New Jersey Community Solar Energy Program (CSEP), which lets residents across the state benefit from solar installations built on large industrial rooftops. More than half of the subscribers for this project are low- to middle-income households, who will receive discounted power along with a guaranteed utility bill credit of 25% or more.
“This project reflects our commitment to integrating sustainability into our investment process,” said Brooke Pottish, Director at New York Life Investment Management. “Through our partnership with Black Bear Energy and Dimension Energy, we're proud to support a project that is expected to provide operational and economic benefits to the property while providing discounted power to New Jersey residents, including those in lower- and middle-income households.”
Black Bear Energy's Ongoing Partnership With NYLIM
The installation is the second energized project between NYLIM and Black Bear Energy since their partnership began in 2018, with further projects expected. The companies said the collaboration shows how commercial organizations can use state programs to create revenue opportunities through community solar while benefiting local communities.
Project Partners React to the Milestone
“This collaboration is a testament to the power of commercial, state, and community alignment in advancing renewable energy deployment,” said Victoria Stulgis, President of Black Bear Energy. “We are proud to facilitate this impactful project, which delivers measurable economic benefits to both NYL and the surrounding community while contributing to grid resilience.”
“It is partnerships like these that enable us to scale community solar efforts and bring meaningful energy cost savings to households who need it most. Community solar remains one of the most effective and fastest ways to bring tangible savings to New Jersey residents, using vacant rooftops to deliver local, affordable power. We're proud to see this project come to fruition,” said Bryan Bentrott, Executive Vice President of Markets and Revenue at Dimension Energy.
