Community Solar is Shining Brighter in 2024: Affordable, Accessible, and Ready to Power Your Neighborhood! Check out these key trends shaping the future of solar power in our neighborhoods: 1. Federal Support: The Inflation Reduction Act (IRA) of 2022 provides a strong foundation for community solar's growth through its tax incentives, including the Investment Tax Credit (ITC), which can now be transferred or sold, benefiting community solar developers. 2. State-Level Expansion: Several states, including Illinois, New Jersey, and New York, have passed or expanded community solar programs in the past year. States like California are also revisiting their regulatory frameworks, which could see an increase in community solar adoption. 3. Virtual Net Metering (VNM) and Utility Buy-in: Virtual net metering allows customers to receive credits for solar generation even when the solar panels are not on their own property. Utility buy-in remains a key challenge, but as more programs prove feasibility, we expect to see more collaborative approaches, such as utility-sponsored community solar, emerge as utilities see community solar as a way to meet renewable portfolio standards. 4. Equity Focus: Increasingly, states are prioritizing low- and moderate-income (LMI) participation in community solar programs. Expect to see more states adopting provisions that mandate a percentage of community solar projects to serve LMI communities, bolstered by IRA funding directed at equitable energy access. 5. Innovative Business Models: Subscription-based models, pay-as-you-go plans, and no-credit-check financing are becoming more common in an effort to make community solar accessible to a broader range of consumers. Want to make a positive impact and save on energy? Now’s the time to join the solar revolution! Read the full article at https://hubs.la/Q02WCrW-0 #CommunitySolar #SolarTrends2024 #GreenEnergy #solarenergy #PureSkyEnergy
-
+1