Channel partnership with CPF will help GRID expand the reach of its Solar Affordable Housing Program to hundreds of additional families in California, Colorado, New Jersey and New York.
And GRIDs unique model ensures that the families reap the full benefits of the system while ensuring consumer protection.
Through third-party ownerships financed through CPFs platform, low-income solar installation projects will benefit from Federal tax credits and depreciation. This will help GRID increase its low-cost solar services to low-income energy customers in areas with limited state and local incentives, as well as stretch existing incentives further. In addition, CPF will provide GRID clients with comprehensive consumer services, including system maintenance and monitoring, and each client will receive a performance guarantee.
CPF is proud to structure an innovative public-private and non-profit partnership that expands the availability of solar energy to communities most in need of clean, low-cost electricity, said Micah Myers, senior vice president of business development at CPF. CPF is a long-time supporter of GRID Alternatives work serving low-income families, and this is an exciting evolution of our relationship. We are pleased to work with GRID to bring clean electricity to more communities in need.
Were thrilled to be able to make Federal tax credits available for solar projects in low-income communities, where the energy cost savings are most needed, said Tim Sears, co-founder and chief financial and operating officer of GRID Alternatives. And GRIDs unique model ensures that the families reap the full benefits of the system while ensuring consumer protection.
GRID decided to join CPFs channel partner network after reviewing several other financing options. CPF brings a strong track record of underwriting financed residential solar systems and is recognized as a leader in creating new financing products to address the needs of specific market segments especially those with limited financing options.
