$150M Powers Solar Energy for 60,000+ Illinois Homes

Illinois just became home to one of the country's largest community solar investments, bringing clean energy savings to over 60,000 homes and businesses.

Foss & Company and Summit Ridge Energy closed a $150 million financing deal in August 2026 to build solar projects across Illinois. The partnership gives everyday families access to solar power without needing rooftop panels or upfront costs.

Community solar works differently than traditional rooftop systems. Neighbors subscribe to shared solar farms built nearby, then receive credits on their electricity bills when the panels generate power. It's like joining a gym membership, except the benefits show up as lower energy costs each month.

The deal represents the eighth collaboration between Foss and Summit Ridge Energy since 2017. Together, they've raised over $7 billion to finance more than 250 clean energy facilities nationwide.

Many of the Illinois projects qualify for special federal tax credits designed to support American manufacturing and help lower-income communities access renewable energy. Over half will participate in Illinois' Adjustable Block Program, which locks in 15 to 20 years of stable renewable energy credits with reliable commercial subscribers.

The Ripple Effect

This investment does more than generate clean electricity. Every project creates local construction jobs and keeps energy dollars circulating in Illinois communities rather than flowing to out-of-state fossil fuel companies.

Families who join community solar programs typically save 10 to 15 percent on their monthly electricity bills. Those savings add up to hundreds of dollars annually that stay in household budgets for groceries, school supplies, or emergency funds.

The environmental benefits extend beyond Illinois borders too. These solar farms will displace electricity that would otherwise come from coal and natural gas plants, reducing air pollution that affects respiratory health in neighboring states.

Adam Kuehne, Chief Investment Officer at Summit Ridge Energy, emphasized that successfully navigating new federal financing requirements shows how strong partnerships can adapt to changing regulations. The companies worked through complex Foreign Entity of Concern rules under the recently created Section 48E tax credit framework.

Since launching in 2017, Summit Ridge Energy has developed more than 3 gigawatts of solar and battery storage projects. That's enough capacity to power roughly 600,000 homes when the sun shines.

Foss & Company brings four decades of experience financing clean energy and community development projects, having deployed over $11 billion since 1983. Their long track record helps attract the large institutional investors needed to fund massive infrastructure projects.

The Illinois solar portfolio demonstrates how clean energy has evolved from niche technology to mainstream infrastructure investment, creating a future where affordable renewable power reaches everyone.