Solar For All Overview
Posted on Apr 30, 2024 in Main
HGIA is proud to announce that it has been selected for a $62,450,000 award from the Environmental Protection Agency (EPA) under the Greenhouse Gas Reduction Fund’s Solar for All (SFA) program.
Through its inclusive on-bill financing program, HGIA will launch its SFA-HI program to reduce the energy burden for low-income households and disadvantaged communities by financing the installation of solar+storage systems on single family dwellings and multi-family rental projects.
“Eligible” households must meet SFA grant requirements with one of the following:
- Low and moderate-income households in eligible CEJST-Identified Census Tracts: Explore the map – Climate & Economic Justice Screening Tool (geoplatform.gov);
- Low and moderate-income households in eligible EPA EJScreen: EJScreen (epa.gov)
- Individuals currently approved for assistance from or participation in at least one of the following income based or income-verified federal assistance programs, with an award letter within the last 12 months:
1. US Department of Health and Human Services Low Income Home Energy Assistance Program: Low Income Home Energy Assistance Program (LIHEAP) | The Administration for Children and Families (hhs.gov)
2. US Department of Agriculture Supplemental Nutrition Assistance Program: Supplemental Nutrition Assistance Program (SNAP) | Food and Nutrition Service (usda.gov)
3. US Department of Energy Weatherization Assistance Program: Weatherization Assistance Program | Department of Energy
4. Federal Communications Commission’s Lifeline Support for Affordable Communities: Lifeline Support for Affordable Communications | Federal Communications Commission (fcc.gov)
5. USDA’s National School Lunch Program: National School Lunch Program | Food and Nutrition Service (usda.gov)
6. US Social Security Administration’s Supplemental Security Income: Supplemental Security Income (SSI) | SSA
Note: Moderate-income households outside of the CEJST-Identified Census Tracts or EPA EJ Screen census tracts are not eligible for financing.
- Multifamily housing with rents not exceeding 30% of 80% AMI for at least half of residential units and with an active affordability covenant from one of the following federal or state housing assistance programs: (1) Low-Income Housing Tax Credit; (2) a housing assistance program administered by the U.S. Department of Housing and Urban Development (HUD), including Public Housing, Section 8 Project-Based Rental Assistance, Section 202 Housing for the Elderly, Section 811 Housing for Disabled, Housing Trust Fund, Home Investment Partnership Program Affordable Rental and Homeowner Units, Permanent Supportive Housing, and other programs focused on the goal of ending homelessness funded under HUD’s Continuum of Care Program; and (3) a housing assistance program administered by USDA under Title V of the Housing Act of 1949, including under Sections 514 and 515.
SFA-HI’s Green Energy Money $aver Product Terms will be as follows:
|
Eligible Participant (ratepayer) |
See above |
| Interest Rate | 4.99%, fixed |
| Loan Term: | Up to 25 years (based on manufacturer’s warranty) |
| Minimum Estimated Bill Savings Required: | 20% throughout the loan term |
| Eligible Technologies: | Energy efficiency (must also install solar PV); Solar PV & Energy Storage Systems |
| Repayment: | On-bill.
Kauai – Direct billed. Financing will be limited to only low-income housing tax credit multifamily projects. |
| Geographic Requirements: | City & County of Honolulu; County of Maui; County of Hawaii and County of Kauai (limited to only low-income housing tax credit multifamily projects). |
| Other conditions: | Except for the terms outlined above, all other terms and conditions under HGIA’s Green Energy Money $aver On-bill Financing program applies. |
SFA funds may also be used to finance residential-serving community solar projects with up to 5 MW nameplate capacity, that delivers at least 50% of the power generated from the system to multiple residential customers within the same utility territory. Funding may also support community outreach, technical assistance and workforce development.
Awards have not been finalized yet. EPA anticipates obligating funds by January 2025, with funding to follow.
For more information and updates, please continue to check HGIA’s website and visit EPA’s Greenhouse Gas Reduction portal here: Greenhouse Gas Reduction Fund Landing Page