Solar

Hartford, CT (September 23rd, 2024) – Inclusive Prosperity Capital, Inc. (IPC) and forty of the nation’s leading green banks, collectively responsible for more than $10 billion in new investments last year alone, announced on Monday the formation of U.S. Green Bank 50 (GB 50), a historic partnership between clean energy-focused public and non-profit financial institutions.   “As a founding member of U.S. Green Bank 50, Inclusive Prosperity Capital is proud to join forces with leading green banks across the nation to create a stronger, more cohesive clean energy finance ecosystem,” remarked Kerry O’Neill, IPC’s Chief Executive Officer. “This partnership allows us to scale our efforts to deliver inclusive climate solutions that reach historically underserved communities, providing them with the resources they need to benefit from the clean energy transition. Together, we are building the financial infrastructure that will drive transformative change, spur economic growth, and ensure that the benefits of clean energy are shared by all.”  U.S. Green Bank 50 will act as a hub for community-focused green banks working locally, regionally, or nationally to build and share best practices, coordinate and leverage resources, and support the collective needs of the rapidly growing green banking industry, which received sizable investment from the landmark Inflation Reduction Act. In doing so, the new organization will accelerate the growth of the U.S. green banking industry, speed up investment in clean energy and inclusive climate solutions nationwide, and further increase clean energy investments in lower-income and historically underserved and marginalized communities.   This announcement comes at an inflection point for climate action, thanks to the generational investments in the U.S. clean energy economy in recent years. On the heels of the Inflation Reduction Act infusing $27 billion into public and non-profit green lending institutions, state and local green banks are set to play a pivotal role in creating historic numbers of clean energy and manufacturing jobs while driving new opportunities for American communities. U.S. Green Bank 50 members plan to work collaboratively with the coalitions receiving the $27 billion of grants from the Inflation Reduction Act to advance clean energy, climate, and justice goals nationwide.  Green banks have emerged as a key bridge to help communities otherwise unable to secure capital from traditional financial institutions to invest in clean energy projects, with a particular focus on low-income and disadvantaged communities too often left behind in the clean energy transition.   Since the passage of the Inflation Reduction Act, the number of state and local green banks has surged to nearly 50 across the nation, serving almost every state plus Puerto Rico. By organizing collectively to seize these opportunities, U.S. Green Bank 50 will support the expansion of green banking into even more communities so benefits reach more American households, small businesses and local organizations, particularly those with historically limited access to clean energy financing.  Learn more about projects financed by IPC here: https://inclusiveprosperitycapital.org/case-studies-and-deal-spotlights/  — Inclusive Prosperity Capital, Inc. (IPC) is a non-profit organization that operates at the intersection of clean energy finance and community development. Our team delivers comprehensive energy financing solutions, innovative tech-enabled lending platforms, and financial products that foster inclusive access to climate solutions. We are dedicated to deploying capital strategically into historically underserved energy markets, projects, and mission-aligned organizations through innovative structuring and initiatives.   As a thought leader in the industry, IPC is demonstrating how impact can be scaled. Learn more about how IPC is shaping the future of inclusive clean energy and explore opportunities to partner with our mission by visiting our website at https://www.inclusiveprosperitycapital.org/.  Media contact: Brian Liechti, Senior Manager of Market Engagement, brian.liechti@inclusiveteam.org, 860-257-2177 

Hartford, CT (September 17th, 2024) – The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) has partnered with Inclusive Prosperity Capital (IPC) to launch the GoGreen Home Portal, powered by IPC’s NGEN platform. This new portal, introduced in July, streamlines the financing process for energy upgrades, offering enhanced project tracking and communication features for contractors, lenders, and California residents. NGEN (National Green Energy Network) is a secure, easy-to-use project management tool designed for single-family clean energy lending programs. It simplifies technical project reviews, loan disbursements, and reporting. “The GoGreen Home Portal has significantly improved our project process,” said GoGreen Home Program Manager, Bill Heberger. “Before, our lenders took on a lot of responsibility when it came to reviewing project eligibility. Now with NGEN, we’ve been able to streamline the process so our lenders can do what they do best and focus on providing affordable financing to the people who need it.” Feedback from stakeholders so far has been overwhelmingly positive, with one lender noting, “The portal has been EXACTLY what we needed!” This collaboration underscores CAEATFA’s commitment to making financing for energy upgrades more accessible and impactful across California. “The launch of the GoGreen Home Portal is a major milestone in making financing for clean energy upgrades more accessible across California,” said Madeline Priest, IPC’s National Director of the Smart-E Loan Program, which NGEN also supports. “At Inclusive Prosperity Capital, we’re proud to provide tools that enable programs like GoGreen Home to scale efficiently and serve a larger number of homeowners. This is an exciting step forward in supporting California’s clean energy goals.” For more information about the GoGreen Home Portal, visit: https://www.gogreenfinancing.com/

For immediate release Hartford, CT (July 30, 2024) – Inclusive Prosperity Capital, Inc. (IPC) is proud to announce the closing of two $2.5 million solar debt facilities, finalized in late 2023, for Sunwealth Power Inc. to support the deployment of 18 distributed generation projects across the country.  The debt facilities helped Sunwealth, a leading mission-oriented clean energy investment firm, finance its growing portfolio of traditionally underserved projects, including solar PV systems installed on nonprofit, faith-based, and affordable housing properties.  IPC is a national nonprofit that aims to increase financing to clean energy projects that benefit traditionally underserved communities and credits. IPC works with partner organizations to identify and close clean energy market gaps in underserved markets through catalytic financing programs.  “Inclusive Prosperity Capital is thrilled to partner with Sunwealth in supporting high-impact and underserved solar projects across the country,” said Kerry O’Neill, IPC’S CEO. “We share a mission to build a more inclusive, equitable, and prosperous future through clean energy and we look forward to continuing that mission together.”  John D’Agostino, Managing Director of Clean Energy Transactions, added, “We are proud to expand the reach and impact of our solar lending arm through this transaction, which we hope will serve as a model for future partnerships with established, mission-aligned developers like Sunwealth. We look forward to continuing to find creative solutions and productive partnerships to catalyze clean energy investments in underserved markets.”  Both organizations hope to build on their relationship in the future through potential opportunities under the Greenhouse Gas Reduction Fund.  Founded in 2014 and based in Cambridge, MA, Sunwealth is one of the country’s largest and most successful small distributed-generation developers and project financiers. Sunwealth develops, finances, owns, and operates underserved solar projects and emphasizes investment in nontraditionally-owned or –led solar companies and projects that uplift low-income communities.   “Sunwealth is excited and deeply grateful to be partnering with Inclusive Prosperity Capital. Our mission alignment and shared commitment to building wealth, sustainability, and resilience in underserved communities make this partnership both meaningful and impactful,” said Sunwealth CEO, Jon Abe. “We look forward to, together, developing a portfolio of solar projects that will supply reliable clean energy, green jobs, and significant energy savings to communities across the U.S.”   The portfolio financed by the partnership consists of 18 projects spread across six states, totaling 3.5 MW. Over the projects’ operational lifetimes, they are projected to generate $11.4 million in energy savings and over 120 solar job years, while offsetting over 85,000 metric tons of carbon emissions.  —  About Inclusive Prosperity Capital  Inclusive Prosperity Capital, Inc. (IPC) is a nonprofit organization that operates at the intersection of clean energy finance and community development. Our team delivers comprehensive energy financing solutions, innovative tech-enabled lending platforms, and financial products that foster inclusive access to climate solutions. We are dedicated to deploying capital strategically into historically underserved energy markets, projects, and mission-aligned organizations through innovative structuring and initiatives.  As a thought leader in the industry, IPC is demonstrating how impact can be scaled. Learn more about how IPC is shaping the future of inclusive clean energy and explore opportunities to partner with our mission by visiting our website at https://www.inclusiveprosperitycapital.org/.  Media contact: Brian Liechti (brian.liechti@inclusiveteam.org), Senior Manager, Market Engagement  About Sunwealth  Sunwealth is a clean energy investment firm working to change who has access to renewable energy by changing the way we invest in it. Combining deep experience in solar development and finance with roots in community and impact investing, Sunwealth invests in commercial solar projects; delivering clean energy and energy savings to communities while providing strong financial returns to our investors and partners. Since 2014, the company has invested over $194 million in more than 646 community-based solar projects nationwide; the company has delivered targeted returns to investors for 9 years with no defaults. For four consecutive years, Impact Assets named Sunwealth to its IA50, a leading list of impact fund managers; Environmental Finance awarded Sunwealth its 2023 Award for Innovation – Bond Structure (Social Bond) and named Sunwealth’s Solar Impact Fund its ESG Fixed Income Fund of the Year.   Media contact: Martha Buckley (martha@sunwealth.com), Senior Manager