Generate Capital closes $117 million in community solar financing from MUFG

A company called Generate Capital has lined up $117 million in financing to build 18 community solar projects in Illinois and New York, adding up to 114 megawatts of power. Community solar lets people subscribe to a shared solar project, often getting a credit on their electric bill, without installing panels on their own roof. This deal doesn't change anything for homeowners directly, but it signals where community solar is expanding and where it's slowing down.

New York, despite being one of the biggest community solar markets in the country, saw new solar installations drop 70% in the first half of 2026 compared to the year before. The reasons cited are practical: fewer good sites, higher costs to connect projects to the grid, and weaker financial incentives. That decline has been partly made up for by growth in Illinois, New Jersey, Virginia, and Delaware, where more community solar capacity is expected to come online by the end of the year. Beyond 2028, though, installations nationwide are expected to decline unless new programs get created or existing ones get extended.

If you live in one of these states and have looked into subscribing to a community solar project, this is a reminder that availability can shift year to year depending on local policy and grid conditions. Checking what your state currently offers, and how stable that support is expected to be, is worth doing before committing to a subscription.