Title: “Brightening Georgia with the Power of Solar through Georgia BRIGHT: An Initiative to Illuminate Homes Economically”
Hello all, I’m excited to talk about a revolutionary new solar lease program launched in Georgia called Building Renewables & Investing for Green, Healthy, and Thriving Communities, or simply, Georgia BRIGHT. Introduced by the nonprofit institution Capital Good Fund, this notable initiative is sweeping across the state, aimed at extending the benefits of solar power to those who may have previously found it inaccessible due to financial constraints or credit score issues.
What makes the Georgia BRIGHT project truly shine is its inclusivity. This initiative doesn’t require any upfront costs for the installation of solar panels for your home. Factors such as credit scores that may typically prevent residents from investing in a solar array for home use are not a barrier for this program – a remarkable step forward in the industry.
This new approach sees a solar company, in this case, the Capital Good Fund, owning and maintaining the solar installation for a 25-year lease term. That’s right; Georgia residents can install a solar array to power their home without worrying about maintenance or initial setup cost. Even better, there’s an option to buy the solar panels so that the residents can take full ownership after year seven, at a price significantly reduced by 65% of the original amount.
The results from the pilot project in September are promising. About 200 households, with an overall income less than $100,000 per year, signed up across Georgia. It’s fantastic to see solar companies actively working to broaden the reach and accessibility of solar energy.
But what does all this mean for you? Simply put, the average family is expected to experience savings of approximately 20% per month on their energy bill. That’s an estimated total savings of $10,000 to $15,000 over the lease term! It’s hard to ignore such a significant cost-saving measure, especially considering that a significant number of Georgians devote more than 10% of their monthly income to energy costs.
The immeasurable potential of this program has been recognized and supported by an impressive $1 million grant from the Arthur M. Blank foundation. Therefore, if this initiative works in Georgia, there is hope that this sort of cost-saving solar solution could be effectively implemented across the South, and possibly the entire nation.
In addition, funding for low-income solar is dramatically increasing in the U.S., with initiatives such as the $7 billion ‘Solar for All’ program, which funds rooftop solar projects in lower-income communities and also provides solar workforce development.
In conclusion, Georgia BRIGHT is not just a solar program; it’s a game-changer for energy consumption in Georgia and the South. As this ray of light cascades over Georgia, it empowers residents both economically and ecologically. It’s bright news indeed for anyone considering solar panels for their home. Remember, solar is not just cost-effective and resilient; it’s an economically viable investment for you and for the planet.
Original Article: https://pv-magazine-usa.com/2024/01/05/georgia-rooftop-solar-program-levels-the-playing-field-for-low-income-households/
