Kitsap Bank is pleased to announce its involvement with a project that will help bring solar access to underserved populations. While solar has started to become more mainstream, not all access to renewable solar energy is equal. Over 95% of state incentive funding goes to single family home owners, leaving out renters and many low to moderate income families. This is known as the “Green Divide”, a phenomenon which Kitsap Bank is working with strategic partners on to overcome.
Emerald Cities Seattle and Spark Northwest have been collaborating to bring the benefits of renewable solar energy to low income residents and the non-profits who serve them for over 2 years, while Access Solar has been working to leverage federal tax credits, state incentives, and utility green power funding to enable solar on non-profit owned affordable housing. To date, over 900 kilowatts of projects have been pre-qualified in 10 affordable housing buildings under the State of Washington's community solar incentive program. Kitsap Bank has worked diligently with a third-party developer to develop at least 500 kilowatts of installed solar in 2019. Significant benefits would return to both the housing providers and residents under the community solar model—a major step in the effort to make renewable energy accessible to all.
Remarks Tony George, Kitsap Bank President & Chief Operating Officer, “At Kitsap Bank, we are strongly committed to sustainability, and we consistently look for additional ways in which we can do our part. While we have financed solar projects before, this one is particularly exciting because it’s helping pave the way for helping a traditionally underserved population take advantage of the latest in green technology while enjoying tremendous energy cost savings.”