Greetings, dear readers! Today, I’m elated to share some exciting news coming out of Massachusetts for solar enthusiasts and those concerned about housing affordability alike. The Massachusetts Solar Technical Assistance Retrofit (STAR) program has recently announced its fourth phase of program participants. This promising development is a step forward for the introduction of solar energy into more affordable housing projects, showing just how seriously this state takes solar energy.
If you’re not familiar with the STAR program, allow me to elucidate. The program is designed to offer both technical and financial assistance to affordable housing organizations that are planning to incorporate solar into their infrastructure. You may be wondering why solar companies are partnering with housing associations to begin with. The simple answer is that navigating the technical and financial aspects of solar projects can be overwhelmingly complex, especially for housing agencies where resources are already thinly spread. The STAR program seeks to address this by playing the crucial role of guide through this process.
Since the program’s initiation, the collective efforts of the Massachusetts Association of Community Development Corporations, Resonant Energy, and LISC’s Boston branch have enabled the study of portfolios from an impressive 44 affordable housing providers. These providers account for more than 1,700 buildings, a significant portion of the housing market that could potentially benefit greatly from solar energy.
A notable achievement of the STAR program is the installation or commitment to install a cumulative 7.9 MW of solar panels for homes across nearly 200 rooftops in its first three phases. These project symbolize more than $30 million in lifetime savings for housing owners, while also significantly lowering carbon emissions. This is the equivalent of taking nearly 1,400 cars off the road, a victory for both homeowners and the environment!
One particularly challenging hurdle in developing solar array for homes, especially for housing authorities, is the review and consent process involving leaders and investors. However, the dynamic team at STAR has taken the issue by the reins, working one-on-one with these parties to streamline the process. The technical expertise and flexible financing options provided by the program are vital components for urban developers aiming to take the solar leap.
The STAR program also assists housing providers in filing for tax credits offered by the Inflation Reduction Act. This service has proven to be extremely beneficial, as Resonant Energy successfully aided clients in the submission of 102 applications to the Department of Energy in the previous fall. If all these applications are approved, we’re looking at a staggering $7.4 million in tax credit support – a significant boost for solar companies and affordable housing alike!
The resonating belief is that the year 2024 will be a game-changer for solar and affordable housing. Tremendous state and federal resources are being dispatched to prioritize solar for affordable housing. This push will enable housing organizations to cover the upfront cost of solar, unlocking substantial savings for both the buildings and residents.
On a grander scale, Massachusetts is seeking $250 million in funding from the Environmental Protection Agency’s $7 billion ‘Solar For All’ program, with roughly $65 million planned for affordable housing communities. The awards will be announced in March 2024 and, if successful, the state will start implementing the funds shortly thereafter.
All in all, the fourth phase of the STAR program signals an exciting future for anyone intrigued by solar power or invested in affordable housing. As solar panels for your home become more financially feasible and knowing the right solar company to partner with becomes less daunting, it’s clear that affordable, clean energy could soon be the new standard for communities all over the U.S. Stay tuned to keep updated on all solar-related news and advancements!
Original Articlehttps://pv-magazine-usa.com/2024/03/07/massachusetts-initiative-assists-affordable-housing-adoption-of-solar/
