Since 2019, ICAST has been working with the U.S. Dept. of Energy’s Solar Energy Technology Office to implement Project SunLight, an initiative to overcome the hurdles of deploying solar PV in MFAH. MFAH has been chronically underserved by clean energy programs, denying the low-income tenants access to green solutions that could reduce their utility bills and improve their quality of life. Accelerating solar PV adoption in MFAH can help the U.S. achieve critical greenhouse gas reduction targets, reduce utility bills, and help preserve housing affordability for low-income populations, thus furthering the federal Justice40 goals.
ICAST concluded Project SunLight this year. As part of the wrap-up, we are excited to announce that we are releasing a Resource Guide that will help legislators, regulators, utilities, investors, program implementers, and other stakeholders better understand the barriers to delivering solar PV at scale to low-income tenants of MFAH, and how to overcome those barriers. This Guide includes ICAST’s feasibility studies and market analysis on existing approaches to solar and storage in MFAH, case studies, best practices from industry leaders, and lessons learned during the project. Access it here.
ICAST believes the time for this Guide could hardly be better, as recent federal legislation is turning the solar landscape on its head. Following the signing of the Bipartisan Infrastructure Law and Inflation Reduction Act into law, the Solar and Battery Energy Storage System (BESS) Investment Tax Credit (ITC) is now increased to 30% for 10 years, plus another 20% bonus ITC for MFAH, if the owners are willing to share the savings with their low-income tenants. The ITC is also eligible for direct pay and transferability. The IRA has changed the equation for MFAH, where solar PV can be at no cost to the MFAH developer when braided with Low-Income Housing Tax Credit and other incentives. The coming years will see a rapid scaling for Project SunLight and other programs who wish to achieve similar goals.