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It’s fantastic to know that your financial institution is totally powered by renewable power. Fifth Third’s formidable goal of utilizing 100% renewable power to energy its actions throughout its nationwide footprint grew to become a actuality … 5 years in the past! Beginning in late August 2019, the financial institution achieved that purpose, making the tip of final month a 5-year anniversary.
Raymond James Monetary in St. Petersburg, Florida, can be displaying a robust dedication to renewable power, with the set up of two huge photo voltaic parking garages at its company headquarters.
Its photo voltaic throughout this week. Different optimistic information is that the IRA low-income bonus credit score jumpstarted 800 photo voltaic installations in inexpensive housing areas in its first yr. Learn extra about these photo voltaic tales and extra beneath.
Photo voltaic Vitality
Fifth Third Celebrates 5 Years of 100% Renewable Energy
“In 2017, Fifth Third set an formidable purpose to energy the Financial institution’s operations throughout its nationwide footprint — together with greater than 1,000 retail places and operational services throughout 11 states — with 100% renewable energy.
“In late August 2019, Fifth Third achieved this purpose with the opening of the Aulander Holloman photo voltaic facility in North Carolina. The mission was made potential via a digital energy buy settlement (VPPA), which assured that Fifth Third would buy all of the electrical energy generated, thereby enabling the developer of the photo voltaic mission to safe funding and construct the mission.”
“Raymond James Monetary, a longstanding pillar of the St. Petersburg, Florida group since 1962, has superior its environmental sustainability efforts with the set up of two in depth photo voltaic parking garages at its company headquarters. This mission underscores the corporate’s dedication to inexperienced power and highlights the design innovation and capabilities of the mission contractor, Superior Inexperienced Applied sciences (AGT).”
Evaluation of the First 12 months of the Low-Earnings Communities Bonus Credit score Program: Constructing an Inclusive and Reasonably priced Clear Vitality Financial system
“The Program is an unprecedented incentive to extend photo voltaic and wind installations in low-income communities. Part 48(e) will increase the Part 48 power funding tax credit score of 30 % (assuming prevailing wage and apprenticeship necessities are met) by 10 or 20 share factors, making it a invaluable bonus to extend clear power growth and adoption. The Program gives 1.8 gigawatts of annual capability accessible to eligible photo voltaic or wind services with most internet output of lower than 5 megawatts. This system will transition to a “know-how impartial” program that accommodates extra clear power applied sciences in 2025 when Part 48E(h) takes impact. Treasury and IRS partnered with the U.S. Division of Vitality (DOE) to handle an applicant portal, evaluate purposes, and make utility suggestions to the IRS.
“In its first yr, the Program obtained over 54,000 purposes from 48 states, the District of Columbia, and 4 territories, and permitted over 49,000. These permitted purposes complete almost 1.5 gigawatts of anticipated power capability and roughly $3.5 billion in private and non-private funding into communities. As described beneath, these services are estimated to generate $270 million in offset power prices yearly.”
Biden-Harris Administration Marks Main Milestones for Offshore Wind, Approves tenth Undertaking
“The Biden-Harris administration at the moment introduced the approval of the Maryland Offshore Wind Undertaking — the nation’s tenth commercial-scale offshore wind power mission permitted beneath President Biden’s management. With at the moment’s approval, the Division has permitted greater than 15 gigawatts of fresh power from offshore wind power tasks — equal to half of the capability wanted to attain President Biden’s purpose of 30 gigawatts of offshore wind power by 2030. Tasks permitted thus far will energy 5.25 million houses. “
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