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Community Energy Accelerator: DOE $10 million award

Community Energy Accelerator

DOE’s Community Energy Accelerator TM will help create a pipeline of projects ready for funding. Award-winning projects demonstrate best practices in community solar energy.

The U.S. Department of Energy’s (DOE) National Community Solar Partnership (NCSP) launched a series of initiatives to support equitable community solar projects and has recognized projects that exemplify best practices in community solar.

Community solar enables any household to access the benefits of renewable energy, with particular emphasis on those who cannot access rooftop solar.

The Community Power AcceleratorTM and its $10 million award will leverage $5 billion in private-sector funding commitments. To help community organizations and other mission-aligned project developers access financing. And build solar community projects, especially in disadvantaged and underrepresented communities.

The Department is also launching a new campaign highlighting the connections between solar energy and its long-term benefits, starting with community solar.

Community solar will play a vital role in supporting the Biden-Harris Administration’s Justice40 Initiative. To ensure that all communities benefit from the clean energy transition. And in achieving the President’s goals of a 100 percent electric grid by 2035 and zero net carbon emissions by 2050.

U.S. Secretary of Energy, Jennifer M. Granholm, stated, “The National Community Solar Partnership offers another exciting opportunity to harness the sun’s power to power our communities, helping to make our climate goals a reality while reducing energy costs and local air pollution. The President’s landmark clean energy laws are boosting access to renewable energy. DOE is seizing the moment to accelerate the deployment of community solar to ensure that clean, affordable energy is available to everyone anytime, anywhere.”

Accelerating the equitable deployment of community solar with the Community Energy Accelerator.

President Biden’s Inflation Reduction Act established tax credits for solar energy projects. Including a 20% bonus credit for solar energy projects that sell their electricity to low-income households.

This tax credit could support up to 18 GW of additional community solar projects over the next ten years, enough to power more than 2.5 million homes.

The critical challenge is to ensure that all types of organizations and communities have access to funds. To develop solar community projects and that the projects deployed bring “significant benefits” to communities and subscribers. Such as electric bill savings, community ownership and wealth creation, resilience, equitable workforce development, and access for low- and moderate-income households.

DOE’s National Community Solar Partnership (NCSP) has launched the Community Power Accelerator TM. To bring together investors, philanthropic organizations, developers, community organizations, and technical experts. To get more equitable community solar projects financed and deployed.

The Accelerator will support developers with technical assistance. And a learning lab to create a pipeline of verified, credit-ready projects. That will connect with investors seeking to finance community solar in disadvantaged communities.

Financial institutions and philanthropic organizations participating in the Accelerator have committed $5 billion in private-sector financing for credit-ready projects.

 

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