Black Bear Energy Facilitates 1.29 MW Solar Installation in Elizabeth, NJ with Dimension Energy and NYLIM

Black Bear Energy, a national commercial buyer’s representative specializing in onsite renewable energy, facilitated the energization of a new 1.29 MW solar installation developed by Dimension Energy, a leading developer, owner, and operator of distributed energy infrastructure, at New York Life Investment Management’s (NYLIM) 5-61 Bay Avenue facility in Elizabeth, NJ. The installation is set to produce approximately 1.5M kWh of clean energy annually. 

The project is supported by the New Jersey Community Solar Energy Program (CSEP), a program that enables residents across New Jersey to benefit from solar installations on large industrial rooftops. Notably, more than 50% of the subscribers for this project are low to middle-income (LMI) households, who will receive discounted power and a guaranteed utility bill credit of 25% or more.

“This project reflects our commitment to integrating sustainability into our investment process,” said Brooke Pottish, Director at New York Life Investment Management. “Through our partnership with Black Bear Energy and Dimension Energy, we’re proud to support a project that is expected to provide operational and economic benefits to the property while providing discounted power to New Jersey residents, including those in lower- and middle-income (LMI) households.”

The installation marks the second energized project between NYLIM and Black Bear Energy since the partnership began in 2018. With further projects expected, the collaboration exemplifies how commercial organizations can leverage state legislation to create potential revenue opportunities through community solar initiatives while positively impacting their local communities.

“This collaboration is a testament to the power of commercial, state, and community alignment in advancing renewable energy deployment,” said Victoria Stulgis, President of Black Bear Energy. “We are proud to facilitate this impactful project, which delivers measurable economic benefits to both NYL and the surrounding community while contributing to grid resilience.”

Dimension Energy echoed the enthusiasm: “It is partnerships like these that enable us to scale community solar efforts and bring meaningful energy cost savings to households who need it most. Community solar remains one of the most effective and fastest ways to bring tangible savings to New Jersey residents, using vacant rooftops to deliver local, affordable power. We’re proud to see this project come to fruition,” said Bryan Bentrott, Executive Vice President of Markets and Revenue at Dimension Energy.

Statements regarding anticipated operational or economic benefits reflect current expectations and are subject to change. There can be no assurance that expected benefits will be realized.

References to sustainability initiatives relate to this specific property and should not be interpreted as representative of all investment strategies or investment decisions managed by New York Life Investment Management.

Black Bear Energy | https://www.blackbearenergy.com/

Dimension Energy | www.dimension-energy.com