Community solar developers see sunny opportunity in tax credits
Low-income areas and communities of color have felt left on the sidelines as homeowners reaped the benefits of rooftop solar panels and electric vehicles helped along by federal and state tax credits.
But community solar project developers say more generous tax credits under the new climate law will help them make a big push into those communities, using tax credits that can run as high as 50% for renewable energy installations.
The increased credit means developers can expand outreach and education efforts, increase hiring, and leverage other Biden administration actions—including changes to federal energy assistance known as LIHEAP—to drive down energy costs for underserved communities, including those in subsidized housing.
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Source: Bloomberg Law
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