President Obama is committed to ensuring that every American family can choose to go solar and to cut their energy bills – and that every American community has the tools they need to tackle local air pollution and global climate change.
Since President Obama took office, solar electricity generation has increased 30 fold and solar jobs are growing 12 times faster than the rest of the economy. Last year, we announced a set of actions to increase access to solar and create a more inclusive workforce, but there is still more work to do. That is why, today, the Obama Administration is announcing a new cross government partnership – the Clean Energy Savings For All Initiative – between the Departments of Energy (DOE), Housing and Urban Development (HUD), Agriculture (USDA), Health and Human Services (HHS), Veteran’s Affairs (VA), and the Environmental Protection Agency (EPA) to increase access to solar energy and promote energy efficiency across the United States and, in particular in low- and moderate- income communities.
Through the Clean Energy Savings for All Initiative, the Administration will work to ensure that every household has options to choose to go solar and put in place additional measures to promote energy efficiency. To continue along this track, the Administration, in collaboration with state agencies, is announcing a new catalytic goal to bring 1 gigawatt (GW) of solar to low- and moderate- income families by 2020. This goal is a 10 fold increase and an expansion of the initial target President Obama set in his Climate Action Plan to install 100 MW of renewable energy on federally-assisted affordable housing by 2020. The Clean Energy Savings for All Initiative will help achieve the goal by promoting innovative financing mechanisms, bolstering technical assistance for states and communities, driving innovation, scaling up workforce training to make sure low- and moderate-income Americans can take advantage of the jobs that come with a transition to clean energy, convening stakeholders, and working with the private and philanthropic sectors. The key components of the initiative that the Administration is announcing today are:
- HUD and Department of Veterans Affairs (VA) are releasing new guidance to unlock residential Property-Assessed Clean Energy (PACE) financing by outlining how properties with PACE assessments can be purchased and refinanced with Federal Housing Administration (FHA) mortgage insurance and by welcoming the use of PACE financing for Veterans Affairs (VA)-insured mortgages. In addition, DOE is releasing a draft of their updated Best Practices Guidelines for Residential PACE Financing for public comment. PACE is a tool that allows American homeowners, including low- and moderate- income households and veterans, to finance solar and energy efficiency improvements at no upfront cost and to pay back the cost over time through their property tax bill;