en.Wedoany.com Reported - Black Bear Energy has facilitated the grid connection of a new 1.29 MW solar installation developed by Dimension Energy at New York Life Investment Management (NYLIM)'s facility located at 5-61 Bay Avenue, Elizabeth, New Jersey. This solar installation is expected to generate approximately 1,500 MWh of clean energy annually.

The project is supported by the New Jersey Community Solar Energy Program (CSEP), which enables state residents to benefit from solar installations on large industrial rooftops. Over 50% of the project's subscribers are low- to moderate-income (LMI) households, who will receive discounted electricity rates and a guaranteed minimum 25% credit on their electricity bills.

Brooke Pottish, Director at New York Life Investment Management, stated that the project reflects the company's commitment to integrating sustainability into its investment process. Through collaboration with Black Bear Energy and Dimension Energy, they are proud to support this project, which is expected to deliver operational and economic benefits to the property while providing discounted electricity to New Jersey residents, including LMI households. This installation marks the second grid-connected project between NYLIM and Black Bear Energy since their partnership began in 2018. This collaboration demonstrates how commercial organizations can leverage state legislation and community solar programs to create potential revenue opportunities while generating positive impacts for local communities.

Victoria Stulgis, President of Black Bear Energy, noted that this partnership exemplifies the synergistic role played by businesses, states, and communities in advancing renewable energy deployment. She expressed pride in facilitating a project that delivers economic benefits to New York Life and surrounding communities while enhancing grid resilience. Bryan Bentrott, Executive Vice President of Markets and Revenue at Dimension Energy, stated that it is precisely such partnerships that enable the scaling of community solar projects, bringing tangible energy cost savings to families most in need. He views community solar as one of the most effective and fastest ways to utilize underutilized rooftops to provide locally affordable electricity.