ICAST Partners with New Mexico for Electrification Rebate Program
ICAST recently signed a contract to help implement New Mexico’s approx. 43.7 million-dollar Home Electrification and Appliance Rebate (HEAR) program. HEAR is one of two funding buckets under the Inflation Reduction Act (IRA)-funded Home Energy Rebate Program; HEAR funds are allocated to states and tribes that provide rebates for electrification upgrades in low- and moderate-income households. ICAST will work with multifamily affordable housing property owners and managers to access these rebates for the benefit of their tenants, focusing largely on replacing inefficient and outdated gas-powered energy systems with very-high-efficiency electric alternatives. These will include heat pumps for space heating/cooling and water heating, upgraded electric wiring, and electric stoves and ovens.
IRA at Work: ICAST’s Project with Robert Walls Senior Citizens Center
On August 16th, the IRA turned two years old. This Act invested a landmark 369 billion dollars in climate and energy action. On this anniversary, IRA funds are beginning to make their way from federal reserves to projects on the ground, and ICAST has been capturing every opportunity to direct the new resources toward its target communities. For example, utilizing IRA-enhanced investment tax credits in concert with energy financing from Triple Bottom Line Foundation, we delivered 30 kW of solar and a new roof for the Robert Walls Senior Citizens Center in Washington, D.C. Beyond reducing utility bills, this project is abating greenhouse gas emissions in alignment with the IRA’s goal to fight climate change across all facets of American life.
Spotlight: Jasna Filipović Joins TBL Fund
We’re pleased to announce that Jasna Filipović has joined ICAST’s sister organization, Triple Bottom Line Foundation (TBL Fund), as its Vice President of Investments & Project Finance. Ms. Filipović has more than ten years of experience in Renewable Energy & Specialty Finance in commercial banking and as many years of experience working with and serving on the boards of various nonprofits.
TBL Fund is a community development financial institution that provides financing and technical assistance for clean energy projects in multifamily affordable housing and disadvantaged communities. Ms. Filipović’s expertise will help make TBL Fund a powerhouse lender for solar and energy efficiency projects.