SunLight General Capital

SunLight General Capital is making clean and affordable energy more accessible by developing, financing, and operating solar projects that maximize savings for communities while bringing strong and predictable returns to project investors. In partnership with New York City Energy Efficiency Corporation (NYCEEC), Nonprofit Finance Fund (NFF) provided a $6.4 million loan to finance the construction of two community solar projects in the rural landscapes of upstate New York: Oneida East in Holland Patent and Collins in Barneveld.

Imagine if communities could leverage one of their most abundant resources – the sun – to create cost savings and advance environmental sustainability.

Electricity fuels nearly every aspect of our daily lives – from the devices that keep us connected to the lights in our living rooms. In a world where we are increasingly plugged in, our need for energy continues to grow. However, as demand for electricity surges, the electrical grid in the United States – a vast network that channels power to millions of homes and businesses – is under unprecedented strain.

This not only raises concerns about reliability and the risk of increased outages; it also highlights a critical issue: the environmental impact of our energy choices.

Traditional energy sources, particularly fossil fuels, significantly elevate greenhouse gas emissions and air pollution, exacerbating the current climate crisis and threatening public health.

In light of these pressing challenges, solar energy emerges as a powerful solution. By harnessing the sun’s abundant resources, we can reduce our reliance on fossil fuels, lower emissions, and move toward a more sustainable energy landscape. And we can empower communities to tap into this ever-present resource to create cost savings and advance environmental sustainability.

Solar power both addresses the critical need for dependable energy sources and promotes the health of our planet and our communities. Investing in solar energy opens avenues for a cleaner, greener future that prioritizes community well-being and champions environmental justice.

Solar energy has seen remarkable growth in the United States over the last few decades, from the invention of the first solar cell in 1954 to the 1970s energy crisis, when rising oil prices prompted a national shift toward alternative energy sources, including solar.

Throughout the 1990s and 2000s, solar energy installations soared, especially in states like California. By the 2010s, the United States surpassed 100 gigawatts of installed solar capacity – enough to power approximately 75 million homes across the nation – driven by technological advancements and federal and state policies in favor of solar energy.

Despite this progress, solar energy has remained out of reach for many. Historically, solar energy systems have favored higher-income households and homeowners, often excluding low-income communities from its benefits. This gap exists because incentives have primarily been designed for individual homeowners, while high upfront installation costs remain unaffordable for many, despite the promise of long-term savings. Recognizing these structural barriers is vital to understanding why low-income communities are often excluded from the benefits of solar energy, and it highlights the need for a community-based approach to addressing this challenge.

Lack of access to solar energy has far-reaching consequences, including higher energy bills and increased exposure to environmental hazards, which disproportionately affect low-income households. Communities that lack access to solar energy often rely on fossil fuels for electricity, which leads to air and water pollution that can cause health problems. Without clean energy options like solar, they remain limited to conventional energy sources that exacerbate environmental risks. Many low-income communities are also often located near industrial sites or highways, increasing their exposure to pollutants. Acknowledging economic and environmental disparities, advocates have stepped up to champion accessible solar solutions.

In 2009, Stacey Hughes, Edouard Klehe, and Bill Zachary left their banking careers to found SunLight General Capital, merging financial acumen with community impact.

“At a basic level, we’re producing a product that everybody needs and has become increasingly expensive, and we’re making it cheaper for communities.”

SunLight General Capital develops, finances, and operates solar energy projects, promoting access to clean and affordable renewable energy with a focus on the Northeast. SunLight General Capital owns one of the largest and most diverse solar portfolios in the Northeast, having developed and acquired more than 500 projects totaling over 130 megawatts since the organization’s inception.

Community solar is an innovative way for people to access clean energy without needing to install solar panels on their own homes.

Community solar projects are often developed on nearby land or buildings, allowing local residents to benefit from solar energy. This communal approach allows more people to enjoy the benefits of solar energy, even if their own apartment or house isn’t suitable for solar panel installation.

Low-income individuals and families that have their energy bills lowered through the federal Home Energy Assistance Program (HEAP), administered by local utilities, can see further savings through community solar projects that generate electricity and pass along savings to HEAP-eligible customers.

Community solar projects not only promote clean energy but also positively affect the quality of life for communities across the nation by generating economic savings, cutting carbon emissions, and creating quality jobs in the solar industry.

SunLight General Capital’s new project will build two ground-mount solar arrays in Oneida County that will reduce utility bills for income-eligible folks through a monthly credit on their bill for energy produced by the arrays.

The construction of the solar arrays – Oneida East in Holland Patent and Collins in Barneveld – is made possible through NFF’s $6.4 million participation in an $8 million loan led by New York City Energy Efficiency Corporation (NYCEEC).

It’s a win-win. Income-eligible families will save money; the project will support clean, renewable energy; and SunLight General Capital’s investors will see returns. Through National Grid’s Expanded Solar for All (E-SFA) program, the projects are estimated to generate over $13 million in utility cost savings for 100% low-income residents in New York State over the next 25 years.

When every penny counts, lower electric bills make a huge difference for families, helping them meet their essential needs.

As community solar projects take root, the importance of partnerships to accomplish the work becomes increasingly clear. When SunLight General Capital was seeking the project financing needed for the Oneida East and Collins solar arrays, they looked to NYCEEC, which had a track record of financing successful energy projects. NYCEEC in turn looked to NFF as a financing partner.

NFF’s dedication to energy efficiency dates to our founding in 1980 as the Energy Conservation Fund, helping New York City nonprofits manage high energy costs by combining technical assistance with financing to alleviate energy expenses. Conserving energy allowed nonprofits to maintain more efficient equipment and buildings, enabling them to stretch scarce operating dollars. 

“Solving big environmental challenges takes new partnerships and innovative solutions. NFF is proud to invest in a project that will have a direct financial benefit for local communities while also building toward a greener world.”

Partnerships like the one between NFF, NYCEEC, and SunLight General Capital demonstrate that solar energy is not zero-sum; communities, shareholders, and the environment can all benefit from clean energy projects.

“Partnering with NYCEEC and NFF has allowed us to scale community solar projects that focus on serving underserved populations. These partnerships have enabled us to finance and develop projects that wouldn’t have been possible otherwise, ensuring that clean energy is both accessible and affordable,” says SunLight General Capital’s Community Solar Investments Manager, Charlotte Brown.

New York state continues to unlock exciting opportunities for expanding solar energy access, with the goal of zero-emissions electricity generation by 2040. With climate-forward policies and incentives in place, we are witnessing a transformative shift to make solar power attainable for more individuals and communities.

What does this mean for the future of solar energy? This initiative adds an important piece to the puzzle for a New York where clean, reliable, and affordable energy is a resource available to all. By prioritizing access for low-to-moderate-income households, New York is tackling climate change while including communities that have long been sidelined.

As we increasingly harness the sun’s energy to power our lives, NFF is committed to being part of the movement that advances economic growth, environmental sustainability, and the overall wealth and well-being of our communities. This isn’t just about energy; it’s about justice, innovation, and seeing a day where every New Yorker can partake in the benefits of a greener economy.

Visit the Financing page of NFF’s website to see how our loans help organizations like SunLight General Capital achieve their goals.

Read more about NFF's commitment to environmental justice as part of our strategic plan.