By Lew Milford and Robert Sanders, Clean Energy Group
Current clean energy financing models do not sufficiently serve low-income communities. As a result, solar+storage projects are vastly underrepresented in affordable housing and community facilities, meaning that low-income communities are unable to enjoy the benefits of clean, affordable and resilient power.
This paper describes emerging finance models to address the energy equity challenge and to level the financing playing field. The paper explores additional ownership and financing options for solar+storage projects and low-income communities beyond direct ownership and conventional leasing models. It makes a simple point: there are ownership and financing strategies that can provide many of the economic and other benefits of direct ownership, while overcoming some of the risks and barriers that direct ownership may entail for many project developers. Learn more here.
Upcoming Webinar: New Financing Options for Solar+Storage in Low-Income Communities
MORE SOLAR+STORAGE NEWS
- Valuing Resilience Can Change the Breakeven Point for Solar-Plus-Storage, Greentech Media
A new study by researchers from the National Renewable Energy Laboratory (NREL) in collaboration with Clean Energy Group, a Vermont-based nonprofit, finds that “accounting for the cost of electric grid power outages can change the breakeven point for PV and storage system investment.” In a summary of a paper submitted for publication, the authors write that “even though a PV and storage system might not appear to be economical under traditional cost-benefit calculations, placing a value on the losses incurred from grid disruptions can make a PV and storage system a fiscally sound investment.”
- Solar Plus Storage Microgrids Bring Relief to Puerto Rico — And Hint of the Future, Microgrid Knowledge
- How solar owners’ post-hurricane demand for batteries could impact utilities: As more customers see solar-plus-storage as resilience boosters, utilities could see less revenues, Utility Dive
ADDITIONAL RECOMMENDED READING
- Five energy industry trends of tomorrow impacting companies today, Utility Dive Guest Opinion by Alan Russo, senior vice president at REC Solar, which was recently acquired by Duke Energy Renewables.
- SEU 2018 survey: Utilities shaken, not moved, by Trump policies: Utility Dive’s fifth annual State of the Electric Utility survey shows a sector committed to the clean energy transition, but wary of policies coming out of Washington.
- 100+ Cities Now Powered by at Least 70% Renewables, EcoWatch
A growing list of cities and municipalities is leading a renewable energy revolution that their national governments either cannot—or will not—address. More than 100 cities around the world now get at least 70 percent of their electricity from renewable sources such as solar, wind, geothermal and hydropower, according to new research from the non-profit CDP. That’s more than double the 40 cities reporting they were powered by at least 70 percent clean energy in 2015.
- Report: Cities of all sizes can achieve sustainable energy solutions, Smart Cities Dive
Some states have banded together to form the U.S. Climate Alliance, nearly 70 mayors have signed the Chicago Climate Charter, and more than 230 U.S. mayors jointly sent a letter to the Environmental Protection Agency (EPA) to oppose its proposed repeal of the Obama administration’s Clean Power Plan.
- World’s Largest Coal Miner Says It’s a ‘Matter of Time’ for Renewables to Replace Coal, EcoWatch Even the world’s largest coal miner thinks the rise of renewable energy and storage technology will pose a “significant threat” to the coal sector.
- Sonnen unveils a free smart home charger that always charges your EV from cheap solar power, Electrek