Greentech Lead America: Wells Fargo, a diversified,
community-based financial services company, has invested $2 million in GRID
Alternatives, a non-profit organization that brings the benefits of solar
technology to low-income communities, over five years to help bring clean,
affordable solar energy to communities.
The financing will help GRID Alternatives expand its
services from California to Colorado and to other states nationwide. GRID
Alternatives’ expansion into Colorado launches September 24th -29th, with
11 solar installations on homes built for families by Habitat for Humanity of
Metro Denver.
“As part of our commitment to investing in environmental
solutions for communities, we’re proud to work together with GRID Alternatives
to help them expand into Colorado and beyond. GRID’s unique delivery model
offers many benefits to our communities, from decreasing electricity bills for
homeowners to helping veterans and other unemployed community members gain job
experience installing solar panels,” said Mary Wenzel, director of
Environmental Affairs, Wells Fargo.
Since 2007, Wells Fargo has been cooperating with GRID
Alternatives, its team members have contributed more than 1,200 volunteer hours
to GRID Alternatives, helping to install residential solar systems in
collaboration with communities and local organizations and exploring innovative
financing models to help the nonprofit deploy more residential solar systems.
Wells Fargo has also donated $600,000 to help GRID Alternatives expand from one
office to seven offices throughout California.
Since its inception in 2001, GRID
Alternatives has installed solar electric systems on more than 2,200
homes saving homeowners an average of $27,000 per home in expenses and avoided
the release of 200,000 tons of greenhouse gas emissions over the systems’
lifetimes.
“Low-income families are extremely vulnerable to
fluctuations in energy prices. Our model makes solar accessible to communities
that need it most – not just the cost savings but the jobs and the environmental
benefits too. We’re thrilled that Wells Fargo is investing in scaling our model
beyond California,” said GRID Alternatives executive director and co-founder
Erica Mackie.
Verengo Solar in pact with GRID Alternatives to install solar
panels for low-income families
Recently, GRID Alternatives partnered with Verengo
Solar to install solar electric systems for low-income families through GRID’s
Sub-Contractor Partnership Program. The new partnership has installed the first
Verengo rooftop system on a low-income home in Lindsay, CA.
editor@greentechlead.com