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Solar Access for all Americans

Obama Solar Initiative
Obama Solar Initiative

Didn’t think solar was for you because you’re:

  • Renting your home?
  • Without capital to invest in solar energy?
  • Don’t have adequate information on the transition to solar energy?

All of that is about to change for commercial and residential. Between the private sector commitments and the executive actions being made, solar will even be accessible to you.

Here are the announcements:

  1. A National Community Solar Partnership – this will unlock solar access to nearly 50% of households and businesses currently renting or without enough roof space for a solar installation
  2. A goal of 300 MW (megawatts) of renewable energy installed in federally subsidised housing as well as providing help on using the federal funding and technical assistance
  3. Power companies, housing authorities and other organisations across 20+ states are committed to solar projects benefitting low to moderate income communities by putting 260 solar projects in place
  4. States, cities and communities coupled with philanthropists and investors have committed over $520 million USD to scale up solar energy and increase energy efficiency for low to moderate income households

In the market for a new job?

President Obama’s goal is to train 75,000 workers to enter the solar industry by 2020. The Solar Ready Vets program will train military personnel of careers in the solar industry at 10 military bases.

Solar jobs are not limited to military however, the Administration is announcing more employment opportunities for all Americans in the solar industry:

  • Expanding solar energy education and job training
  • AmeriCorps funding that will help create jobs in underserved communities

Whether you need solar or want to build a career in it, Obama’s Solar Initiative will help you do that.

Making solar accessible

The FHA is providing an easy way to borrow up to $25,000 for solar and energy efficient improvements with a second mortgage program.

The National Community Solar Partnership unlocking solar access to nearly 50% of businesses and houses that are renting or do not have enough roof space for solar energy systems through community solar projects in low to moderate income communities.

California is announcing a pilot program to help multi-family homes with $3 million USD for energy improvements as well as their current New Solar Homes Partnership which encourages solar energy installation on new construction. So far the program has awarded $23 million USD in incentives for over 883 affordable housing communities.

What it means for businesses

Solar has been deployed at such a high rate in the last year that it might look like it’s coming to a halt. These programs that have just recently been put into place focus much more on an affordable end product and yield higher returns for the involved parties than ever before.

From an investment standpoint, it has never been a better time to transition to renewable energy and claim the federal incentives currently available. Although some incentives are coming to a close (30% tax credit ends in 2016), they are overlapping other initiatives and creating a great investment opportunity for business owners who act quickly.

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