New Energy Equity has announced its 2018 year-end results, including a string of record accomplishments for the company. The Maryland-based company has now closed more than 145 MW (DC) of solar electricity generation, 60 MW in 2018 alone, representing $302 million in total project value.
Delran School District, Delran, New Jersey (New Energy Equity)
“We are very excited about these results” said Ian Palmer, Chairman of New Energy. “We grew more than 30 percent by both megawatts commissioned and dollars deployed in an increasingly competitive market. New Energy now has projects deployed in nine states and is actively developing in 14 states, ranging from New Hampshire, down to Georgia, across to Minnesota and even in Hawaii.”
The company added two new significant markets in 2018, Ohio and Illinois.
Asked about how New Energy plans to improve on these results in 2019, company President Matthew Hankey was quick to answer noting, “We are a partner-driven business. Nothing can replace local knowledge and local reputations. We are fortunate to have developed a top-quality network of project partners and each year we look to add a couple more.”
New Energy Equity expanded into Community Solar Markets in 2018 by completing projects in Minnesota and New York, with active development in Illinois and Maryland to be completed in 2019 and 2020. John Langhus Vice President of Business Development commented on this expansion saying that Community Solar continues to be a preferred method of states and utilities.
“We were able to expand current partnerships and source new partnerships to execute on some of our largest projects to date, further proving that the model works well.” Langhus added.
As for the company’s focus on growth in 2019 and beyond, Matt Hankey noted the company’s priority is on how well it executes its projects and not on the number of projects.
“We will continue to focus on our business partnerships and being the best partner we can be to our existing clients. If that means another year of growth, all the better,” Hankey concluded.