Project Name: Bringing Low and Moderate Income Households (LMI) Solar Financing Models to Scale
Funding Opportunity: Solar Energy Technologies Office Fiscal Year 2018 Funding Program (SETO FY2018)
SETO Research Area: Soft Costs
Location: Montpelier, VT
SETO Award Amount: $1,023,239
Awardee Cost Share: $277,250
Principal Investigator: Warren Leon
-- Award and cost share amounts are subject to change pending negotiations --
The primary objective of this project is to increase the speed at which pilot solar energy programs for low- and moderate-income (LMI) households are adapted and scaled. The team is focused on pilot programs that have effectively increased the affordability of solar energy for LMI households. The intended result of this project will be the launch of solar installation projects by at least ten states, utilities, or foundations, providing financial and other benefits to at least 25,000 LMI households.
This project’s approach is split into three objectives. The first is to dramatically expand residential rooftop solar for LMI single-family homes. The team aims to secure commitments from at least three states to launch a program implementing the LMI Single-Family Home Model developed by the Connecticut Green Bank; achieve at least 2,000 home solar installations in each state; and implement solar financing agreements in at least 600 homes per state. Second, the team aims to demonstrate that solar is viable for mobile homes and will work with at least three states on pilot projects. Third, the team will work with at least two foundations to launch and provide capital for the Multifamily Housing Model developed by the Kresge Foundation, in which solar is installed along with battery storage in multifamily affordable housing.
This project team is partnering with state governments and other groups to implement LMI solar models on a larger scale in order to accelerate the adaptation of these models to more and larger communities. The resulting solar installations will provide benefits, including financial, to many more LMI households than would not otherwise have access to solar and the benefits that accompany it.