Low Income Housing
See how the IRA is Benefitting Low Income Communities
Low-Income Housing is Designated to Receive Added Incentives from Renewable Energy Systems and Owners can Benefit
While privileged communities have been able to tap into extraordinary incentives and benefits associated with renewable energy, low-income housing communities have historically faced prohibitive barriers.
High system costs combined with waning tax incentives have limited both access and adoption. At the same time, low-income communities are frequently burdened by some of the highest power needs, disproportionate energy costs, less reliable utility supply, and limited financial resources.
What does this mean for you?
The newly passed Inflation Reduction Act offers exciting provisions particularly targeted at bridging these gaps and benefitting low-income communities. Now, all communities can take full advantage of renewable energy system benefits.
Using microgrids in particular, developments can increase both per square foot revenue and appraised value without increasing property tax basis, in addition to slashing energy costs, growing community employment and business opportunities, significantly increasing resiliency when utility supply falters, and contributing to sustainability and environmental stewardship.
Faraday Microgrids can help low-income housing community ownership groups secure the highest possible value for properly conceived and executed renewable energy microgrid projects – yielding up to 70% income tax credits, credit resale, or Direct Pay.
Moreover, in most jurisdictions, this raises the appraised value of facilities but is specifically excluded from tax basis calculations – yielding both increased revenue and value per square foot of developed space.
Ready to start a conversation about the benefits of microgrids to your facility? Click the link below to get your facility analyzed.