Kristen Cheriegate | ICAST Policy Manager
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Virginia Announced Launch of Clean Energy Innovation Bank
The Virginia Department of Energy has announced the launch of the Virginia Clean Energy Innovation Bank (VCEIB) after similar legislation was vetoed earlier this year. As a green bank, VCEIB will mobilize public and private capital to bridge the gaps in clean energy financing in Virginia. Focused on clean power generation and energy infrastructure, this funding will allow Virginia’s state agencies to collaborate and expand access to clean energy innovation. For example, projects may include solar supply chain investments, grid modernization, battery storage deployments, and more. The bank will be seeded with $10 million through the 2024 Virginia state budget. In addition to this direct funding, VCEIB will manage programs that support a wide range of grid improvement projects, including the Virginia Grid Reliability Improvement Program. VCEIB plans to make funding available to small businesses, large corporations, and nonprofit entities.
Maryland Increases Commercial Solar Grant Program Budget
The Maryland Energy Administration Commercial Solar Grant Program (CSGP) budget has been allocated double its previous funding, increasing from $5 million to $10 million as of November 2024. These grants make solar PV systems accessible to low- and moderate-income and underserved communities across the state. CSGP will split its budget between two areas of interest (AOI): equitable solar access for organizations ($6 million) and commercial solar for sustainability ($4 million). Eligible applicants include Maryland businesses and nonprofits, among others. Applications are noncompetitive, awarded on a first-come, first-served basis through March 31, 2025. Grant amounts will be rewarded based on the AOI and size of the solar PV system. These funding reservations will remain in place through the end of the year; afterward, remaining funds for each AOI will be made available to all eligible applicants, regardless of AOI.
New Hampshire Community Solar Program Progresses
After more than seven years since regulators approved community solar to create savings for low-income (LI) households, New Hampshire’s state energy department is reviewing seven proposals for community solar arrays to allow LI households to purchase renewable energy and save money on their energy bills. After years of finalizing eligibility rules, the projects selected will coordinate with utilities to automatically enroll LI households in the program. The state was also selected to receive over $43 million from the federal Solar for All program to fund a variety of complementary deployments of community solar projects and scale up its existing program.