With Federal funds funneling into States from both the Bipartisan Infrastructure Law (BIL) and the Inflation Reduction Act (IRA), States and Federal agencies are rushing to create and expand programs and determine how to braid and leverage available funding. Countless investment firms exist to assist communities in obtaining clean energy technologies, but not every firm knows how to navigate low-income and disadvantaged communities (LIDACs), let alone the intricacies of subsidized multifamily affordable housing properties.
This is why International Center for Appropriate and Sustainable Technology (ICAST) has launched “Finance for Impact” (FFI) – a 501c3 nonprofit investment firm that invests in clean energy assets nationally, providing tax equity financing and developing clean energy assets that directly benefit LIDACs.
FFI has a successful track record of collaborating as equity investors and co-lenders on clean energy projects for affordable housing properties and utility clients in LIDACs. FFI’s primary investments are in solar PV and battery energy storage systems (BESS), but also invests in energy efficiency equipment such as heat pump HVAC and hot water systems. FFI helps clients to access these technologies with innovative financing solutions to ensure that properties and their tenants can benefit from the clean energy transition and the influx of federal funding.
FFI has partnered other financiers to make these projects happen, including but not limited to: Triple Bottom Line Foundation; American Express; Synchrony Bank; MidFirst Bank; Comenity Bank; and more.
FFI investments have already had a collective impact of the following:
- $20 Million loans to date
- 140 kW solar PV ownership
- 150,000 LMI households served
More information about FFI and the types of financing services offered can be found here.
For any questions regarding FFI, please feel free to reach out to info@financeforimpact.org.
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About ICAST
ICAST is a 501c3 nonprofit with a history of designing, launching, managing, and scaling programs to benefit underserved communities. Its focus is delivering clean energy upgrades to low- and moderate-income households living in multifamily affordable housing and disadvantaged communities.
