The Community Power Coalition Will Build the Capacity of Mission-Focused Community Solar Developers Across the Country and Scale New Models that Deliver the Benefits of Solar, Resilience, and Empowerment in Partnership with Low-Income and Disadvantaged Communities For immediate release Washington, DC (Earth Day, April 22, 2024) – Today, the Environmental Protection Agency (EPA) announced its selection of Inclusive Prosperity Capital, Inc. (IPC) and the Community Power Coalition for an award of $249.3 million from Solar for All for their “Powering America Together” program. The program, which covers 44 states and territories along with all 10 EPA regions, aims to bring significant benefits to Americans in low-income and disadvantaged communities. It will achieve this through community solar projects that lower energy costs, create quality jobs, build community wealth, enhance energy resilience, and promote fair workforce development. Solar for All, which is one of three competitions under the Biden-Harris Administration’s Greenhouse Gas Reduction Fund, is a historic $7 billion investment to enable low-income and disadvantaged households across America to access the benefits of low-cost solar energy. “Today we’re delivering on President Biden’s promise that no community is left behind by investing $7 billion in solar energy projects for over 900,000 households in low-income and disadvantaged communities,” said EPA Administrator Michael S. Regan. “The selectees will advance solar energy initiatives across the country, creating hundreds of thousands of good- paying jobs, saving $8 billion in energy costs for families, delivering cleaner air, and combating climate change.” The Community Power Coalition, led by IPC and comprised of Black Owners of Solar Services, Clean Energy Group, Coalition for Community Solar Access, Community Housing Capital, GRID Alternatives, Interstate Renewable Energy Council, People’s Solar Energy Fund, ROC USA, and the University of New Hampshire Carsey School Center for Impact Finance, shares a commitment to a community-centered model of lowering energy costs for families, creating quality jobs, advancing climate justice, and empowering low-income and disadvantaged communities to develop solar solutions that fit their unique needs. The Community Power Coalition members have worked with the Department of Energy’s Community Power Accelerator and National Community Solar Partnership as developers, financing partners, trainers, and technical assistance providers. Coalition members also bring expertise in solar financing, workforce development, BIPOC entrepreneurship, affordable housing, and policy. The coalition aims to increase the capacity and deployment of mission-driven, community-based solar developers throughout America. “We are thrilled to be chosen for the EPA’s Solar For All program and to lead the Community Power Coalition,” said Kerry O’Neill, CEO of Inclusive Prosperity Capital, Inc. “The Community Power Coalition is eager to build a movement of community-based solar developers who are committed to providing significant benefits to low-income and disadvantaged communities. We are grateful to EPA for the opportunity to be part of this historic investment to bring the benefits of solar to communities all across the country.” Through its Powering America Together program, the Community Power Coalition will focus innovation and scaling on community solar models that provide multiple meaningful benefits: Community-owned models seeking to build wealth for low-income and disadvantaged communities Affordable multifamily housing models benefitting low-income tenants in regions without enabling community solar policy Resident-owned-community models for solar in cooperatively owned manufactured home developments Models aligned to the requirements of rural regions, generating additional wealth for rural landowners and rural electric cooperative ownership Models that integrate developers and equitable workforce development The coalition’s program(s) will offer a variety of low-cost financial assistance, including predevelopment and construction financing, bridge loans for tax credits, permanent financing, and grants to support community solar projects. This includes financing for interconnection costs and upgrades, with a focus on using Solar for All funds to bridge financing gaps and maximize other financing resources. The coalition also aims to expand community solar access for low-income and disadvantaged communities in nascent state markets. Education and technical assistance on community solar models and supportive regulations will be provided by the Community Power Coalition. Additionally, financing incentives will be offered for projects in states that reduce regulatory barriers, and support will be given to mission-driven, community-based developers testing innovative approaches. The program’s broad technical assistance scope will include connecting developers to local workforce development ecosystems, expanding the Community Power Accelerator training program, providing hands-on assistance for challenges like interconnection and project finance, and offering community engagement and culturally appropriate outreach. The coalition will have a dedicated focus on building the capacity of community solar developers from under-represented backgrounds. In all, with a strong commitment to community-centered solutions, this groundbreaking initiative not only aims to lower energy costs, create quality jobs, and enhance energy resilience but also to empower low-income and disadvantaged communities to shape their sustainable future. Through collaboration, innovation, and a dedication to climate justice, the program’s enduring legacy will be the cultivation of an ever-growing network of mission-driven developers who advance climate equity through community solar, driving positive transformations in communities disproportionately affected by climate change. Read the EPA’s official press release here. Details about the EPA’s Greenhouse Gas Reduction Fund, including Solar for All, can be found here. About Inclusive Prosperity Capital, Inc. Inclusive Prosperity Capital, Inc. (“IPC”) is a national mission-driven nonprofit clean energy financing platform scaling solutions that channel investment capital to communities that need it most through mission-aligned program partners. IPC operates at the intersection of community development, clean energy finance, and climate impact. We believe everyone should have access to the benefits of clean energy, helping to deliver inclusive prosperity. For more information about Inclusive Prosperity Capital, Inc., please visit https://www.inclusiveprosperitycapital.org.
