RESOURCES
Direct Pay Earlier this summer, the Treasury announced guidance for direct pay to further our collective climate goals by issuing a check for nonprofits to install clean energy projects. In addition to bonus tax credits - authorized by Congress, the Low-Income Communities Bonus Credit Program – also known as 48(e) – supports the deployment of renewable energy technology to benefit low-income households and communities. The program provides a significant incentive on top of the existing 30% Investment Tax Credit, allowing the transition to wind and solar energy to be more affordable for families and communities nationwide.
Additional background on the program can be found here: Treasury - Direct pay guidance, press release, FAQs and Fact sheets
Greenhouse Gas Reduction Fund The President’s Inflation Reduction Act created a first-of-its-kind, national-scale program: the Greenhouse Gas Reduction Fund—a $27 billion investment to mobilize financing and private capital to address the climate crisis, ensure our country’s economic competitiveness, and promote energy independence while delivering lower energy costs and economic revitalization to communities that have historically been left behind. The Solar for All competition will expand the number of low-income and disadvantaged communities primed for residential solar investment. EPA released the list of Notice of Intent (NOI) Letters received from entities applying to Solar for All found here to include States and Territories, Tribal Governments, Municipalities, Nonprofits Climate Pollution Reduction Grants The Climate Pollution Reduction Grants (CPRG) program provides $5 billion in grants to states, local governments, tribes, and territories to develop and implement ambitious plans for reducing greenhouse gas emissions and other harmful air pollution. This two-phase program provides $250 million for noncompetitive planning grants, and approximately $4.6 billion for competitive implementation grants. You should find out if/how your state may be using these funds.
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