Community Solar Archives - Inclusive Prosperity Capital

Inclusive Prosperity Capital, Inc. and the Community Power Coalition “Powering America Together” Program Selected by U.S. Environmental Protection Agency for Solar for All Award

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.

Inclusive Prosperity Capital, Inc. and the Community Power Coalition “Powering America Together” Program Selected by U.S. Environmental Protection Agency for Solar for All Award Read More »

$12M Loan to High-Impact Residential Solar Provider PosiGen, Catalyzing the Energy Transition in Lower-Income American Communities

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Inclusive Prosperity Capital recently partnered with the Connecticut Green Bank and ImpactAssets to extend a catalytic $12 million bridge loan to PosiGen, the nation’s leading residential solar and energy efficiency provider for low-to-moderate income (LMI) homeowners, instantly boosting their cash flow and enabling the immediate deployment of solar and energy efficiency upgrades in LMI communities. The loan provides short-term liquidity against the to-be-realized value of low-income Investment Tax Credit adders under the Inflation Reduction Act. “IPC is thrilled to partner with the Connecticut Green Bank and ImpactAssets to support PosiGen with tax credit bridge financing, unlocking capital right now to the benefit of families suffering high energy burdens,” said Kerry O’Neill, CEO of Inclusive Prosperity Capital. “This type of creative structuring for an innovative leader like PosiGen is exactly what is needed to ensure no one is left behind in the clean energy transition.” Read the full announcement

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During the opening plenary of the ACEEE Finance Forum, Chief Strategy Officer, James McIntyre spoke to the work our team is doing in Ithaca with support of our partners.

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The panel highlighted the exciting new endeavor that the City of Ithaca is embarking on with IPC partner BlocPower, to help the City reach the building decarbonization goals set under its Green New Deal, targeting carbon neutrality by 2030. BlocPower is a climate tech startup creating smarter, greener, healthier buildings for all by reducing the barriers to money-saving, quality of-life-improving green building retrofits including installation of heat pump systems. BlocPower’s innovative financing model increases access to heat pump technology for low-to-moderate income and environmental justice communities. Through an energy service agreement, a lease on the equipment that includes operations and maintenance, BlocPower delivers an affordable solution for building electrification retrofits. The panel focused on the role of IPC and our partners in decarbonization efforts throughout the city. One key part of the solution in Ithaca will involve the investment of capital into buildings that are converting to high efficiency heating and cooling solutions, including privately owned buildings. IPC leverages our capital by investing in projects like these around the country, including creating a lending facility for organizations like BlocPower that allows them to scale the deployment of energy efficient technologies. Contact us to learn more about how IPC can work with communities on developing financing strategies for decarbonization by emailing us at info@inclusiveteam.org

During the opening plenary of the ACEEE Finance Forum, Chief Strategy Officer, James McIntyre spoke to the work our team is doing in Ithaca with support of our partners. Read More »

Solar Power to Provide Savings to East Windsor Housing Authority

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The Housing Authority will save more than $130,000 in avoided energy costs over 20 years Photos provided by Laura Scyocurka East Windsor, CT (Oct. 12, 2021) – The Connecticut Green Bank announces the installation of a 39.6 kW solar photovoltaic system at Park Hill, a housing complex owned by the East Windsor Housing Authority. The low income, elderly and non-elderly property is comprised of 84 garden style apartments, three laundry rooms, and large community hall/office building. The Housing Authority has agreed to a 20-year power purchase agreement (PPA) in which they buy the electricity generated by the system at a fixed reduced cost. The PPA will save the Housing Authority approximately $130,000 on their electricity costs over the agreement term. “It was a pleasure to work with the Green Bank on our solar project. The staff was very professional and efficient with the entire process including the coordination with the installation of the panels by Green Earth Roofing Solutions, who I would also recommend. The cost savings on our electric bill will certainly be beneficial to the Housing Authority and the residents we serve,” Linda Collins, Executive Director of the East Windsor Housing Authority. “A power purchase agreement (PPA) works well for properties like a housing authority that cannot monetize the investment tax credits offered by the federal government,” said Mackey Dykes, Vice President of Financing Programs at the Green Bank. “The PPA model allows the housing authority to harness all the energy and cost savings benefits of solar energy.” Inclusive Prosperity Capital (IPC), a non-profit, partners with Green Bank to own and maintain the system. IPC offers the PPA to multifamily, non-profit, and municipal customers outside Connecticut.

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East Hampton Town’s First Solar Installation With Battery Storage System Will Generate Renewable Energy, Store Excess Power for Use or Sale During Periods of Peak Energy Demand

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Original Release: NYPA solar pr rel Aug 25 2021 TOWN OF EAST HAMPTON159 Pantigo RoadEast Hampton, New York 11937PETER VAN SCOYOC (631) 324-4140Supervisor pvanscoyoc@ehamptonny.govFOR IMMEDIATE RELEASEAugust 25, 2021 East Hampton Town’s First Solar Installation With Battery Storage System Will Generate Renewable Energy, Store Excess Power for Use or Sale During Periods of Peak Energy DemandTown collaborates with New York Power Authority to install rooftop system on Parks Department building East Hampton Town’s First Solar Installation With Battery Storage System Will Generate Renewable Energy, Store Excess Power for Use or Sale During Periods of Peak Energy Demand Town collaborates with New York Power Authority to install rooftop system on Parks Department building East Hampton Town’s first solar-plus-battery storage system is being installed on the roof of the Parks Department building at the Town Hall campus at 159 Pantigo Road in East Hampton. The 75-kilowatt solar PV (photovoltaic) system will generate clean, renewable power and charge a 137 kilowatt-hour battery that will allow the Town to sell excess power to the grid when demand and prices are at their peak. The Town, in collaboration with the New York Power Authority (NYPA), selected New York-based Solar Liberty and its financing partner on the project, Inclusive Prosperity Capital, through a competitive process to develop the solar-plus-battery storage system. NYPA recommended the system’s installation as part of East Hampton’s ongoing efforts to move toward a 100 percent renewable energy goal. The project also supports New York State’s aggressive solar and energy storage targets to fight climate change, which include the state generating 70 percent of its electricity from renewable sources by 2030. Other East Hampton Town buildings were also considered for solar and energy storage, but it was determined that the Parks Department was the best candidate for an immediate installation. This will be the first solar-plus-battery storage system installed at a town facility. Solar panels are already producing power at the Montauk police precinct and at the Lamb building shared by the East Hampton Office of Housing and Community Development and Town Trustees in Amagansett. “Not only will this project reduce carbon emissions and make the Town Hall campus more resilient, it is also estimated to save taxpayers at least $10,000 a year between bill credits and reduced electrical costs,” said East Hampton Town Supervisor Peter Van Scoyoc. The solar PV system will be financed through a 20-year Power Purchase Agreement (PPA) with Inclusive Prosperity Capital, with no upfront costs to the town. A PPA also enables the Town to benefit from cost offsets provided by tax credits. The battery was added at no cost to the Town through support from NYPA.“NYPA is proud to partner with the Town of East Hampton to help achieve its ambitious renewable energy goals,” said NYPA President and CEO Gil C. Quiniones. “This significant solar and storage solution illustrates the potential for energy and financial savings for public facilities and will lead the way for other municipalities.” It’s estimated that the power produced by the solar PV system in one year avoids the amount of emissions produced by the consumption of 7,000 gallons of gasoline, burning 68,000 pounds of coal, or the annual electricity usage of 11 homes. This project will expand the Town’s current solar portfolio, which in addition to the solar PV systems on the Lamb building and the Montauk police precinct includes the independently operated Accabonac solar farm and the Town’s Solarize East Hampton campaign, which offers discounts to residents and local businesses on solar installations. Visit EnergizeEH.org for more information.

East Hampton Town’s First Solar Installation With Battery Storage System Will Generate Renewable Energy, Store Excess Power for Use or Sale During Periods of Peak Energy Demand Read More »

Clean Energy States Alliance Launches Major Initiative to Advance Solar in Under-Resourced Communities

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US Department of Energy Funds CESA’s Efforts to Scale Up Solar for Low-and Moderate-Income Households Montpelier, VT (October 3, 2019) – The Clean Energy States Alliance (CESA) will lead a wide-ranging initiative to accelerate the development of solar projects that benefit low-and-moderate-income (LMI) households and communities. The “Scaling Up Solar for Under-Resourced Communities Project” is being supported by a three-year funding award of $1.1 million from the US Department of Energy Solar Energy Technologies Office. The project team will focus on three distinct subsets of the LMI solar market: single-family homes, manufactured homes, and multifamily affordable housing. For the single-family homes component of the initiative, CESA will work with Connecticut Green Bank, Inclusive Prosperity Capital, Lawrence Berkeley National Laboratory, and PosiGen Solar to evaluate and promote a successful initiative that has brought solar to more than 2,500 Connecticut single-family homes, most of which are LMI. State agencies from across the country will be given the opportunity to join a working group where they will receive technical assistance and other support to consider adopting similar programs for their states. For manufactured homes, CESA, with assistance from representatives of the New Mexico Energy Conservation and Management Division, will examine the potential for using solar to power manufactured homes in different states, based on their housing stock, solar policies, geography, and the applicability of different possible technologies. State government agencies, rural electric cooperatives, municipal utilities, and other stakeholders will be encouraged to join a learning network to explore the potential for launching a pilot project or program for manufactured homes. The multifamily affordable housing component of the project will build on work carried out by Clean Energy Group (CEG) in conjunction with the Kresge Foundation. CEG and CESA will work with housing developers/owners and community development lenders to replicate and expand loan guarantee and other foundation program-related investment (PRI) models for solar and solar plus battery storage (solar+storage) projects for multifamily affordable housing. Principal objectives will be to increase community resilience and reduce energy costs for low-income households. CESA has worked actively on LMI solar more than five years. CESA Executive Director Warren Leon remarks that: “CESA is committed to helping state governments and other stakeholders implement solar in ways that provide meaningful benefits to under-resourced communities. The new grant from the US DOE solar office will enable us to significantly expand our outreach and assistance.” To carry out the new initiative and other work CESA is engaged in related to solar for LMI communities, two talented individuals with strong experience working on this topic have been added to the CESA staff. CESA Project Director Nicole Hernandez Hammer is a well-known environmental justice advocate, climate change expert, and sea-level researcher. A Guatemalan immigrant, she has worked to address the disproportionate impacts of climate change on under-resourced communities across the US. For the past year, she has been a consultant to the Rhode Island Office of Energy Resources, working primarily with community groups on LMI solar. She was a climate science and community advocate at the Union of Concerned Scientists and assistant director of the Florida Center for Environmental Studies, among other positions. She was recently recognized by NBC as one of the #NBCLatino20. Laura Schieb, CESA project associate, earned a JD at Vermont Law School, as well as an LLM in Energy Law with a Certificate in Climate Law. While at the law school, she was employed as a Global Energy Law Fellow, implementing projects at the Energy Law Clinic, including leading a team preparing a report on low-income solar ownership in Vermont. To learn about or to sign up for updates about the new Scaling Up Solar for Under-Resourced Communities Project, go to www.cesa.org/projects/low-income-clean-energy/scaling-up-lmi-solar/. ### About the Clean Energy States Alliance The Clean Energy States Alliance (CESA) is a national nonprofit coalition of public agencies and organizations working together to advance clean energy. CESA members—mostly state agencies—include many of the most innovative, successful, and influential public funders of clean energy initiatives in the country. CESA facilitates information sharing, provides technical assistance, coordinates multi-state collaborative projects, and communicates the achievements of its members. For more information, visit www.cesa.org. About the Solar Energy Technologies Office The US Department of Energy Solar Energy Technologies Office supports early-stage research and development to improve the affordability, reliability, and performance of solar technologies on the grid. Learn more at energy.gov/solar-office.

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