Author: Aliya Bagewadi

Last week, we at Allume were at the edge of our seats as we watched the U.S. House of Representatives vote yes on the Inflation Reduction Act (IRA). Signed into law by President Biden, the IRA includes a historic $370B investment in climate solutions and environmental justice with the goal of reducing US carbon pollution by 40% in 2030.

IRA will help low to middle income households get rooftop solarCongressmen applaud after Speaker of the House Nancy Pelosi (D-CA) signed the Inflation Reduction Act during a bill enrolment ceremony after the House passed the legislation. The legislation provides the largest federal investment in to the climate in US history

 

How Allume Energy can help provide solar for LMI households and apartment renters

With our vision for a world in which everyone can access clean and affordable energy from the sun, we see a tremendous opportunity to extend the financial and environmental benefits of solar to more Americans than ever before.

It is important to note that, historically, federal tax incentives for residential solar largely benefited more affluent homeowners, furthering disparities in access to affordable solar for low to moderate income (LMI) households and apartment renters. With a population that is 43% LMI and apartment units in the hundreds of millions, access to affordable solar remains difficult, especially for communities that have been disproportionately burdened by climate change.

In fact, Allume created the SolShare to bridge the gap to accessible and affordable solar. The SolShare is our award-winning hardware solution that enables residents in apartments (better known in the industry as multifamily homes) to directly access and consume clean energy from rooftop solar panels. By dynamically distributing solar energy throughout a multifamily home, our technology helps lower energy bills for renters and landlords all while reducing a building’s reliance on fossil fuels. We call it our win-win-win.

Rooftop solar for multifamily homes

The SolShare is currently being installed in the US, Australia, and the UK to help lower the energy bills of apartment renters and building owners.

 

The IRA will help make solar power more accessible

We are excited about the many ways in which the IRA can expand access to rooftop solar for LMIs and apartment renters. Here are parts of this landmark legislation that we see as game-changers for accessible solar:

 

1. Improvements to the Investment Tax Credit:

 

2. Additional Credits for Projects that Meet Key Criteria

 

3. Rebates for Energy Saving Technologies

 

4. Grants and Financing for Energy Justice Initiatives

 

If you are a renter, building owner, or solar installer, please get in touch. We look forward to seeing how the team at Allume Energy can help you make the most of rooftop solar for your apartments or multifamily homes.