New steps for solar energy in financing multifamily affordable housing
A recent filing by major utilities with the California Public Utilities Commission (CPUC) marks a significant development in the financing of solar projects for multifamily affordable housing. The additional joint advisory letter, submitted by Pacific Gas and Electric Company, along with Southern California Edison, San Diego Gas and Electric, Liberty Utilities and PacifiCorp, provides details on the veracity of the 2023 greenhouse gas allowance revenue resources as directed by Decision 22. -09-009.
This supplemental advisory letter, identified by numbers ranging from Advisory 7196-EA to ADVICE 732-EA, represents a collective effort by these utilities to adjust the financial frameworks under the Solar on Multifamily Affordable Housing (SOMAH) program. This program is critical in California’s move toward using clean energy sources and supporting affordable housing with sustainable energy solutions.
The advisory letter specifies how the additional funds will be distributed and administered to ensure that solar projects under the SOMAH program are adequately financed. This move is part of a broader state initiative to improve energy efficiency and support low-income households in the transition to renewable energy sources.
The implications of this guidance are significant for stakeholders within the solar industry and for communities benefiting from the SOMAH program. By reallocating revenues from greenhouse gas allowances, these utilities are not only meeting government mandates but also actively contributing to the state’s ambitious clean energy goals.
Background information about the SOMAH program
The SOMAH program was created to provide financial incentives for installing photovoltaic energy systems on multifamily affordable housing in California. The program aims to provide clean energy, reduce energy bills for residents, support jobs and reduce greenhouse gas emissions. The true-up process outlined in the joint advisory letter is part of ongoing efforts to adjust financing based on actual greenhouse gas allowance revenues, ensuring that the program’s financial resources are in line with goals.
As California continues to lead the way in integrating renewable energy into its electric grid, initiatives like SOMAH are essential in demonstrating how state policies can be aligned with environmental goals and social justice. Today’s filing with the CPUC is a step forward in this ongoing effort.
Bradley Bartz is the founder of ABC Solar Incorporated and a dedicated advocate for solar energy. “Today at the CPUC” is a series focusing on the California Public Utilities Commission’s critical updates that impact the solar industry and advocates like Mr. Bartz, with the goal of keeping the community informed and engaged hold.
For more information visit The solar Bible GPT by Bradley Bartz.
