Hello there, solar enthusiasts and green innovators alike! Today I’m here to discuss a crucial yet relatively new domain within the solar industry: climate financing. As your go-to solar expert, I’m thrilled to share some valuable insights regarding this mission-driven approach to green energy that specifically targets low-income and underrepresented communities.
Presently, across the United States, you’ll find an estimated 10,000 community-based lenders passionately contributing to clean energy expansion through climate financing. These aren’t just any lenders. They’re mission-driven, focusing on aiding their communities by supporting solar and green financing alongside first home buying, car purchasing, and even financing community builds like healthcare clinics and charter schools.
But what exactly is climate lending, you ask? Until recently, it was uncharted territory. However, established institutions like the University of New Hampshire’s Carsey School of Public Policy have developed specialized training programs, such as the Solar and Green Lending Professional Training program. Funded by the U.S. Department of Energy’s Solar Energy Technologies Office (SETO), this initiative provides professionals with the knowledge and skills they need to navigate this exciting new frontier of clean energy lending.
Imagine this: an 8-week virtual program, at the end of which you’ll be well-versed in developing new solar and green lending products, collaborating with partners to provide solar financing, and deploying new loans or investments, all aimed at increasing your community’s access to green energy solutions. The understanding of solar arrays for homes, residential solar panels, and how to interact with solar companies, it’s all part of the package. And the best part about this program is that learning doesn’t stop after the eight weeks. You’ll receive ongoing support through workshops, a peer sharing site, and handy resources like guidebooks and policy templates.
Many individuals are already tapping into this climate lending vision. Since its inception three years ago, nearly 700 students have taken part in the UNH program, representing almost 300 community-based financial institutions ranging from community banks to mission-driven green banks. These financial institutions have brought myriads of benefits to their communities, benefiting more than 11,000 households, including over 5,000 low and moderate-income ones.
However, the silver lining extends beyond just financing. Participants have reported increased familiarity with their respective markets and a deepened comprehension of solar energy’s benefits. Looking ahead, there is exciting potential for the training program to further assist lending institutions by adding a formal technical assistance component for launching clean energy products.
To expand on this success, SETO’s Community Power Accelerator Learning Lab offers training on community solar project development and business models for those interested in integrating impactful benefits into their portfolios. This includes education on residential solar panels and how to partner with solar companies within the community to offer accessible green solutions.
In conclusion, whether you’re seeking solar panels for your home or aiming to realize the potential of a full-blown solar array for your home, understanding climate financing can be a game-changing element in your green energy journey. This mission-driven, community-centric approach to solar finance undoubtedly holds a bright spot in the future of the solar industry. And as always, I’m here to guide you through this solar-powered journey, sharing insights, updates, and tips along the way. Stay tuned!
Original Article: https://pv-magazine-usa.com/2024/01/24/training-for-community-based-lenders-focusing-on-climate-finance/
