PHILADELPHIA, Sept. 23, 2021 /PRNewswire/ -- The Philadelphia Energy Authority (PEA) joined City, State and Federal leadership today to announce the completion of the City's first rooftop solar program for low- and moderate-income homeowners. Solar installations were completed at 50 homes through PEA's Solar Savings Grant Program.
City Council President Darrell Clarke said, "Solarize Philly makes it possible for all homeowners and businesses to go solar while saving money, creating jobs and improving public health and the environment. Solar is a win-win for Philadelphia."
Pilot participants had household incomes of <80% of Area Median Income. PEA provided subsidy to participating households to cover part of the installation cost, paired with a low-cost loan. No minimum credit score or any upfront cost was required. Solar panels are warrantied for 25 years and participants will see utility bill savings in Year 1.
"The Philadelphia Energy Authority continues to position Philadelphia as a national leader in using clean energy to drive equitable economic development," said Councilmember Katherine Gilmore Richardson. "This innovative program lays the foundation for thousands more low- and moderate-income households to go solar over the coming years."
Said Bellam, whose solar system went live today: "Going solar is my contribution to help the environment and community. I started with taking small steps such as buying a bicycle and reducing plastic waste. Powering my home with renewable energy through solar is a dream come true! I can now reduce carbon emissions and save on my electric bill at the same time."
Partners included the Pennsylvania Housing Finance Agency (PHFA), Solar States, Centennial Parkside CDC using grants from Spark Therapeutics and William Penn Foundation, Firstrust Bank and the National Energy Improvement Fund (NEIF).
The Philadelphia Green Capital Corp. (PGCC), Philadelphia's new green bank, is providing loan loss reserves and a revolving fund for the solar renewable energy credits generated by the projects.
The Solar Savings Grant Program is part of Solarize Philly, a citywide program to help all Philadelphians go solar. Installers include Solar States, Superior Solar Design, PosiGen, and EDP Renewables. Any Philadelphia homeowner or business can sign up at www.solarizephilly.org.
About Philadelphia Energy Authority (PEA)
PEA is a municipal authority building a robust, equitable clean energy economy in Philadelphia. We are investing $1 billion over 10 years in clean energy projects to create 10,000 jobs. Visit www.philaenergy.org.
President & CEO
Philadelphia Energy Authority
SOURCE Philadelphia Energy Authority