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GRID Alternatives (GRID), a US-based largest non-profit solar installer, has become a channel partner to Clean Power Finance (CPF) to help more low-income homeowners save money on their electric bills with residential solar. Channel partnership with CPF will help GRID expand the reach of its Solar Affordable Housing Program to hundreds of additional families in California, Colorado, New Jersey and New York.
Through third-party ownerships financed through CPF’s platform, low-income solar installation projects will benefit from Federal tax credits and depreciation. This will help GRID increase its low-cost solar services to low-income energy customers in areas with limited state and local incentives, as well as stretch existing incentives further. In addition, CPF will provide GRID clients with comprehensive consumer services, including system maintenance and monitoring, and each client will receive a performance guarantee.
Micah Myers, senior vice president of business development at CPF, said, “CPF is a long-time supporter of GRID Alternatives’ work serving low-income families, and this is an exciting evolution of our relationship. We are pleased to work with GRID to bring clean electricity to more communities in need.”
“We’re thrilled to be able to make Federal tax credits available for solar projects in low-income communities, where the energy cost savings are most needed,” said Tim Sears, co-founder and chief financial and operating officer of GRID Alternatives. “And GRID’s unique model ensures that the families reap the full benefits of the system while ensuring consumer protection.”
GRID decided to join CPF’s channel partner network after reviewing several other financing options. CPF brings a strong track record of underwriting financed residential solar systems and is recognized as a leader in creating new financing products to address the needs of specific market segments – especially those with limited financing options.
(Photo Courtesy to GRID Alternatives' Facebook Page.)