January 2021 Newsletter

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A Look Back at ICAST's Accomplishments of 2020


Although 2020 was a challenging year in more ways than one, here at ICAST, we are thankful to have successfully retrofitted another record number of multifamily projects across the country. We are also proud to look back at the impact we made on our climate. Our efforts helped save over $50Million in utility bill costs, remove 354,000 tons of carbon, and conserve 88 Million gallons of water . We are excited to continue our efforts into 2021 to help even more LMI households save money on their utility and health care costs


Cheap Solar Forces Investors to Write Off $1B Australian Coal Plant as Worthless


The newest coal-fired power plant in the country, the 10-year-old, nearly $1B USD Bluewater facility, has been written off as worthless by its investors. Southwestern Australia has so much cheap solar energy that the coal plant’s prospects cratered, especially once it faced some supply problems.

Financial analysts are predicting that there is going to be a lot of this sort of thing. The plant was co-owned by the Japanese companies Sumitomo and Kansai … Both have written it down to zero as a tax loss.

For the full story, click here.


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TBL Foundation Awarded Funding From OFN


The Triple Bottom Line Foundation was awarded two grants from the Opportunity Finance Network. TBL Fund was awarded a $100,000 grant though their Renewable Energy and Energy Efficiency Financing Grant program. This grant will allow TBL Fund the ability to raise significantly more capital for its lending activities. TBL Fund was also awarded a $50,00 Covid-19 Grant from OFN, to help fund its operating activities during the challenges of the pandemic.


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 Will 2021 be the year that solar becomes a driver of total home energy efficiency?


2020 has been a challenging year for everyone, including those in the solar industry, but as we’ve persevered and adapted to new digital selling, we see only more growth in residential solar in the coming years and a shift from it being leveraged as a standalone product to taking advantage of its ability to support a total home energy solution.

Over the next year or so, we expect to see homeowners embrace solar as part of a total solution, encompassing battery storage, energy efficient upgrades, and charging electric vehicles to encompass a more holistic home energy picture.

For the full story, click here.


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