You don’t have to own a home to go solar

Over the past decade, a boom in renewable energy made rooftop solar increasingly practical for US homeowners — but it largely left out the 44 million households that rent, and those unable to afford to go green. The Inflation Reduction Act is now poised to change that dynamic, expanding access to low-cost, carbon-free solar energy by providing generous incentives for what’s known as community solar.

Developers of these smaller-scale projects install solar panels on vacant land in or near communities, or on the rooftops of commercial buildings. Renters, apartment dwellers and people whose homes are not suitable for rooftop arrays can then subscribe to a community “solar garden,” paying a monthly fee based on their electricity consumption. In exchange, they receive a discount on their utility bills for the clean power they’re helping supply to the grid.

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Source: Bloomberg

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