- Jan 11, 2020 5:30 pm GMT
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A pioneering effort in the USA to bring solar plus storage to under-served areas reflects the power of collaboration, innovation and guaranteed funding. This will be one to watch.
The Kresge Foundation, Montpelier-based Clean Energy Group (CEG) and New York City Energy Efficiency Corporation (NYCEEC) announced today a groundbreaking $3.3 million commitment – through a Kresge loan guarantee and connected grants – to accelerate the market development of solar PV plus battery storage (solar+storage) technologies in historically underserved communities. The Foundation’s investment represents the first time a U.S. foundation has committed to use both its grantmaking and endowment resources in a comprehensive strategy to bring these new clean energy technologies to affordable housing and critical community facilities in low- and moderate-income neighborhoods. NYCEEC is the lender selected to participate in the loan guarantee initiative. CEG will manage the effort.