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New Energy Equity

New Energy Equity, LLC

Annapolis, MD, United States

SolarSubsidiary
51-200 employees500 MW installed
Profile last updated: April 23, 2026

About

New Energy Equity is a subsidiary headquartered in Annapolis, United States with approximately 51-200 employees specializing in Solar.

New Energy Equity is a solar developer, financier and operator headquartered in Annapolis, Maryland, and a wholly owned subsidiary of ALLETE, Inc. The company develops, finances, builds, owns and operates community, commercial and utility-scale solar projects across the United States. Its services include solar land leases for landowners, commercial solar financing, acquisitions and co-development of solar projects, and operations and maintenance through its subsidiary Energy Support Services. Its commercial division operates as Versiris Energy. The company also runs the Lift As We Climb Foundation, which funds charitable causes related to clean energy.

Headquarters

Annapolis, United States

Employees

51-200

Company type

Subsidiary

Focus areas

solar developmentcommunity solarcommercial solarsolar O&Msolar land leasesproject financeALLETE

Products & services

Business models

B2BIPP

Value chain

DevelopmentEngineeringProcurementConstructionO&MAsset ManagementCommunity Engagement

Service areas (3)

  • Solar Development and Financing

    Develops and finances community, commercial and utility-scale solar projects, including land leases and co-development.

  • Solar Operations and Maintenance

    O&M and asset management services through subsidiary Energy Support Services.

  • Commercial Solar

    Commercial solar financing, development and installation for businesses through Versiris Energy.

Locations

Headquarters

Riva Road 2530, 21401, Annapolis, MD, United States

Service regions

United States

Projects

5

Depew Community Solar

Community solar

7 MW community solar project located on an abandoned landfill, co-developed with National Energy Development.

7 MW capacityDepew, United States

Harlem Consolidated School District Solar Project

Solar PV

5.54 MW solar project partnered with Harlem schools, providing community solar credits to the district.

5.54 MW capacity

Herrin Community Solar Project

Community solar

3.1 MW community solar project co-developed with SunVest, providing discounted bill credits to subscribers in the Ameren service territory.

3.1 MW capacityHerrin, United States

Moriah Community Solar

OperationalCommunity solar

Community solar project brought online to deliver energy and economic benefits to the Adirondack region.

United States

CRAB Adaptive Boating Center Solar System

Rooftop solar PV

25 kW roof-mounted solar system donated, engineered, installed and managed through the Lift As We Climb Foundation, reducing the center's utility costs.

0.025 MW capacityClient: CRAB

Credentials & affiliations

Certifications

SEIA DEIJ Gold Certification

Issued by: Solar Energy Industries Association

Awards

Small Business Exec of the Year (Company and CEO)

Business Intelligence GroupSmall Business

Best Places to Work 2025

Baltimore Business Journal

Top Solar Contractors

Solar Power World

Partnerships

ALLETE, Inc., National Energy Development, SunVest, Cedar Creek Energy, CRAB, Versiris Energy, Energy Support Services, Impact Power Solutions

Frequently asked questions

published by the company
What is community solar?

Community solar allows multiple customers to benefit from a single solar array. Participants receive credits on their electricity bills for their share of the power produced, making solar accessible without rooftop installation.

How does solar energy work?

Solar panels convert sunlight into electricity through photovoltaic cells. When sunlight hits the panels, it creates an electrical current that can be used immediately or stored for later use. This clean energy reduces reliance on fossil fuels.

Do I need to own my home to benefit from solar?

No. Community solar programs allow renters and homeowners alike to participate without installing panels on their property. This makes solar energy accessible to a broader range of customers.

What are the environmental benefits of solar energy?

Solar energy produces no greenhouse gas emissions during operation, reduces air pollution, conserves water resources, and decreases dependence on finite fossil fuels. It's a key solution in combating climate change.

How reliable is solar energy?

Solar panels are highly reliable with minimal maintenance requirements. While energy production varies with sunlight availability, modern solar systems are designed to maximize efficiency, and community solar programs are connected to the grid for consistent power delivery.

What is New Energy Equity's role in solar development?

As an ALLETE company, New Energy Equity develops, finances, and operates community solar projects nationwide. We work with landowners, utilities, and communities to deliver clean energy solutions that benefit all stakeholders.

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