Cape Light Compact announced a new grant program for low-income members on Cape Cod and Martha’s Vineyard. It’s called the the Low Income Solar Revolving Grant Program.
The program fully funds the costs of installation and equipment for a solar photovoltaic system. These solar power systems increase renewable energy and lower electric bills because homeowners own their solar panels and the electricity it produces — a zero-cost source of energy.
Cape Light Compact uses a program called Solar Renewable Energy Credit. Grant recipients allocate the Renewable Energy Certificates from their photovoltaic system to the compact. The compact plans on selling the credits and reinvesting proceeds into their revolving grant fund as funding for future PV systems.
The initial awards are funded by a $250,000 grant from the Massachusetts Clean Energy Center.