Yesterday the White House revealed a series of measures that would put additional solar panels on low-income housing. They will also provide greater access to solar power to those who rent. Solar power will now become more accessible for low income people.
Clearer federal guidelines about how housing authorities can use federal funds to financial solar panels will make them more accessible. Hundreds of millions of new capital will also come from local governments, investors and foundations.
These additional monies are meant to expand solar power on low-income housing, to renters and on public property. CNN reports the White House stated the Obama Administration is “committed to addressing climate change, promoting clean energy, and creating good paying jobs.”
Another measure that was clarified was the use of government-backed second mortgages to help finance solar systems. Switching to solar power can mean saving up to 20 percent on monthly electric bills.
AmeriCorps workers are slated to install solar panels in low income housing. Solar power will help reduce the use of fossil fuels and minimize the pollution emitted from their use.
Regular homeowners and businesses will also have greater access to solar power. Since 2010, the cost of a rooftop solar system has been cut in half. These reduced costs, coupled with government programs and incentives, make it more feasible for property owners to invest in solar power.
Businesses can realize a measurable ROI after investing in solar systems. Property owners can help reduce greenhouse emissions while saving money on their utility bills.
Solar energy refers to any type of energy that is produced by the sun. The power of the sun can be harnessed directly or indirectly for use. Previously viewed as power for people with means, the latest measures make solar power more accessible for low-income people.
Though solar energy is only accounts for about 1 percent of the nation’s current energy use, ongoing federal incentives are anticipated to make a difference. A White House fact sheet revealed that in 2013, about a quarter of new power generation capacity was from solar.