Tuesday, June 18, 2019

California Boots Up $1 Billion Financing Program For Multifamily Solar Installs

The Solar on Multifamily Affordable Housing (SOMAH) program, which is run out of San Diego, said it has launched a new, $1 billion program to bolster clean energy access for low-income, residential tenants. According to the SOMAH program, it has begun accepting applications for the new program, which gives property owners financial incentives for installing solar photovoltaic energy systems on housing serving low-income and disadvantaged communities throughout the state. The program pays per-watt-incentives to property owners for installing solar power, as much as $3.20 per watt in incentives, and also will offer up training on photovoltaic install and design to residents of housing units participating in the program. The incentives look to exceed the current cost-per-watt of installed solar in California, which according to EnergySage was around $3.03 per watt in January of 2019--meaning the program could cover the entire cost of those solar panel installs for property owners. The California Public Utilities Commission is overseeing the SOMAH program, which has a target of installing 300 megawatts of generating capacity in California by 2030.