Fueling Georgia’s Green Future: Capital Good Fund
The latest grant in the Arthur M. Blank Family Foundation’s Environment portfolio was recently awarded to Capital Good Fund, a nonprofit, U.S. Treasury-certified Community Development Financial Institution with a mission to create pathways out of poverty and advance a green economy through inclusive financial services. The $1 million grant will support the Georgia BRIGHT (Building Renewables, Investing for Green, Healthy, Thriving Communities) pilot project by Capital Good Fund, which will use innovative financing to bring the benefits of renewable energy to low- and moderate-income families in Georgia.
The Georgia BRIGHT program offers a solution to consumers through discounted solar leasing that requires no upfront cost, covers installation and maintenance of the solar panels and includes a discounted monthly fee to lease the panels. The project utilizes new, direct payment tax credits from the Inflation Reduction Act to lower the cost of leasing rooftop solar systems to low- and moderate-income homeowners.
The first round of the Georgia BRIGHT program will result in the installation of solar panels on the homes of 200 Georgia households making less than $100,000 a year. By utilizing federal funding, grants and discount bulk purchase discounts, the average family saves 20% per month on their power expenses or about $10,000-$15,000 over the term of the lease.
Recognizing the endemic nature of American poverty, as well as the interlocking issues that together form barriers to eradicating it, Capital Good Fund uses financial empowerment in a holistic way to meet the needs of their clients, foster true social mobility and chip away at the wealth and opportunity gaps in our society.
The Capital Good Fund grant aligns with the foundation’s Environment giving area and our strategy to invest in solutions that accelerate the deployment of renewable energy and its positive impact on people’s lives.