Summary
- Fifth Third Bank has been powered by 100% renewable energy for five years
- Raymond James Financial in St. Petersburg, Florida installed two large solar parking garages
- Low-income bonus credit program jumpstarted 800 solar installations in the first year
- The IRS program incentivizes solar and wind installations in low-income communities
- The Biden-Harris administration approved the Maryland Offshore Wind Project, the 10th project approved under their leadership
Article
Fifth Third Bank celebrated its 5-year anniversary of using 100% renewable energy to power its activities across its nationwide footprint. They achieved this goal in late August 2019 with the opening of the Aulander Holloman solar facility in North Carolina, thanks to a virtual power purchase agreement (VPPA). The bank’s commitment to renewable energy sets a positive example for other financial institutions to follow suit. Meanwhile, Raymond James Financial in Florida installed two large solar parking garages at its corporate headquarters, showcasing its dedication to green energy initiatives.
The IRA low-income bonus credit program jumpstarted 800 solar installations in affordable housing areas in its first year. This incentive program aims to increase solar and wind installations in low-income communities by providing additional funding through tax credits. The first year saw over 54,000 applications from various states and territories, with nearly 1.5 gigawatts of expected energy capacity and $3.5 billion in investments into communities. The program is set to expand to accommodate additional clean energy technologies in the near future, demonstrating the government’s commitment to an inclusive and affordable clean energy economy.
Eaton, a company specializing in electrical products, announced a new industry-first smart breakers and home energy management system to streamline residential solar and energy storage installations. This innovation aims to improve the efficiency and effectiveness of solar energy systems in homes, further promoting the adoption of renewable energy solutions among consumers. The initiative aligns with the growing trend towards sustainable living and reducing carbon emissions.
The Biden-Harris administration marked a milestone for offshore wind energy by approving the Maryland Offshore Wind Project, the nation’s tenth commercial-scale offshore wind project. This approval signals the administration’s commitment to clean energy initiatives, with over 15 gigawatts of clean energy approved under President Biden’s leadership. With a goal of achieving 30 gigawatts of offshore wind energy by 2030, these projects will power millions of homes across the country, reducing reliance on fossil fuels and advancing the transition to renewable energy sources.
CleanTechnica’s dedication to reporting on renewable energy advancements and sustainable initiatives showcases the importance of staying informed about the latest developments in the clean energy sector. By signing up for their daily news updates or following them on Google News, readers can stay abreast of important stories like Fifth Third Bank’s renewable energy milestone, the IRA low-income bonus credit program, Eaton’s innovative products, and the Biden-Harris administration’s offshore wind project approvals. These stories highlight the progress being made towards a greener and more sustainable future for our planet.
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