BRIGHT Solar Lease Program launched in Georgia to Empower Low-Income Homeowners with Solar, Overcoming Credit Barriers and Upfront Costs

 

Georgia just initiated a new solar lease program called BRIGHT (Building Renewables & Investing for Green, Healthy, and Thriving Communities ). This program aims to help residential homes to get solar power who might not qualify for paying for solar. The Capital Good Fund, a nonprofit organization, is running the program, and they have a $1 million grant supporting it.

BRIGHT(Building Renewables & Investing for Green, Healthy, and Thriving Communities ) Solar Lease Program Insights:

With this solar lease program, people can get solar panels without paying anything upfront, even if their credit score isn’t high enough for solar financing. Also, Under this program, families will save around 20% on their monthly electricity bills, which adds up to about $10,000 to $15,000. About one-third of people in Georgia spend more than 10% of their monthly money on energy bills, which is considered “energy poverty.” On average, a regular home uses about 3% of its monthly income for electricity.

Moreover, Funding continues to help low-income families get solar power in the United States. There’s a big $7 billion program called “Solar for All”, part of the Inflation Reduction Act. This program supports installing solar panels on roofs in poorer areas and helps train people to work in the solar industry. They plan to give out grants for “Solar for All projects” this year. Jennifer Whitfield, a senior lawyer at the Southern Environmental Law Center said, “If we can make solar power that saves money work in a state like Georgia, it gives hope to homes in the South that could use this kind of help.”

In conclusion, Georgia’s BRIGHT Solar Lease Program is making solar power accessible to residential homeowners who may face financial barriers. With an emphasis on inclusivity, the program offers upfront cost relief, addressing energy poverty concerns. It will show that solar power is beneficial and saves money but is also a good choice economically.

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