Investing in Solar Energy Using the Public Welfare Investment Authority

Summary

This issue looks at how banks use their public welfare investment authority to invest in facilities that generate solar power, making them partners in the effort to increase the use of renewable energy. This partnership benefits communities as well as banks by providing financing for green renewable energy projects, creating critically needed jobs for a range of worker skill levels in local communities, and bringing energy savings to consumers and businesses. In addition, banks investing in solar energy-producing facilities can benefit by taking advantage of often-generous state and federal tax incentives or grants.