Capital Good Fund is increasing its Pennsylvania BRIGHT photo voltaic leasing program statewide following an funding from Candide Group’s Afterglow Climate Justice Program. Began in 2024, Pennsylvania BRIGHT arranges photo voltaic undertaking leasing for households incomes lower than $165,000 yearly or in Low-Earnings, Deprived Communities. Prospects are eligible no matter credit score rating, and the lease agreements are designed to cut back month-to-month power prices and deal with long-term undertaking upkeep.
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“Afterglow is proud to help the Pennsylvania BRIGHT residential program. Initiatives like Pennsylvania BRIGHT are crucial for making certain all communities can take part in a simply local weather transition,” mentioned Neal Parikh, co-managing director of the Local weather Justice Fund at Candide Group. “The financial savings these initiatives will generate make sure that Pennsylvania residents spend much less of their earnings on power payments. Capital Good Fund’s work in rising entry to inexpensive clear power alternate options is a crucial resolution to rising power prices affecting households throughout the U.S.”
The statewide enlargement arrives because the residential funding tax credit score expires at the end of 2025.
“Increasing Pennsylvania BRIGHT statewide is a milestone for power fairness,” mentioned Andy Posner, Founder and CEO of Capital Good Fund. “At a time when power prices are placing actual strain on working households, this program proves photo voltaic generally is a highly effective device, opening doorways so extra People can lower your expenses and safe power independence.”
With help from Leon Lowenstein Basis, The Pittsburgh Basis, The Heinz Endowments, Henry L. Hillman Basis and BQuest Basis, Capital Good Fund launched pilot packages in Southwest and Southeast Pennsylvania final summer time. The Southeast program is powered by native partnerships with Philadelphia Inexperienced Capital Company and the Philadelphia Power Authority, which operates Solarize Higher Philadelphia. By Solarize Higher Philadelphia, collaborating installers will supply job alternatives and workforce coaching inside the exact same low-to-moderate earnings (LMI) communities the place the photo voltaic techniques are being leased.
“Pennsylvania BRIGHT makes it attainable for LMI owners to cut back prices utilizing clear, inexpensive photo voltaic power,” mentioned Maryrose Myrtetus, government director of the Philadelphia Inexperienced Capital Corp. “Though federal tax credit for residential installations expire later this 12 months, photo voltaic leases are offering clear advantages. Pennsylvania BRIGHT removes upfront prices and credit score limitations. By partnering with Solarize Higher Philadelphia, we’re making it attainable for owners of all earnings ranges to entry financial savings and stability.”
Pennsylvania BRIGHT has helped over 60 households decrease power payments and construct resilience throughout the Commonwealth.
“We’ve three grandchildren, and we wish to ship a message that there’s one other method,” mentioned Mark Gorman, of Pittsburgh, who noticed his photo voltaic system go dwell this spring. “Packages like Pennsylvania BRIGHT assist bridge the hole so everybody might be a part of the clear power transition.”
Information merchandise from Capital Good Fund
