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It’s fantastic to know that your financial institution is solely powered by renewable vitality. Fifth Third’s formidable goal of utilizing 100% renewable vitality to energy its actions throughout its nationwide footprint turned a actuality … 5 years in the past! Beginning in late August 2019, the financial institution achieved that purpose, making the top of final month a 5-year anniversary.
Raymond James Monetary in St. Petersburg, Florida, can also be exhibiting a robust dedication to renewable vitality, with the set up of two large 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 Five Years of 100% Renewable Power
“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 goal with the opening of the Aulander Holloman solar facility in North Carolina. The project was made possible through a virtual power purchase agreement (VPPA), which guaranteed that Fifth Third would purchase all the electricity generated, thereby enabling the developer of the solar project to secure funding and build the project.”
From Vision to Reality: Solar Parking Garages Energize Raymond James Financial Headquarters
“Raymond James Financial, a longstanding pillar of the St. Petersburg, Florida community since 1962, has advanced its environmental sustainability efforts with the installation of two extensive solar parking garages at its corporate headquarters. This project underscores the company’s commitment to green energy and highlights the design innovation and capabilities of the project contractor, Advanced Green Technologies (AGT).”
Analysis of the First Year of the Low-Income Communities Bonus Credit Program: Building an Inclusive and Affordable Clean Energy Economy
“The Program is an unprecedented incentive to increase solar and wind installations in low-income communities. Section 48(e) increases the Section 48 energy investment tax credit of 30 percent (assuming prevailing wage and apprenticeship requirements are met) by 10 or 20 percentage points, making it a valuable bonus to increase clean energy development and adoption. The Program provides 1.8 gigawatts of annual capacity available to eligible solar or wind facilities with maximum net output of less than five megawatts. The program will transition to a “technology neutral” program that accommodates extra clear vitality 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 functions, and make software suggestions to the IRS.
“In its first year, the Program received over 54,000 applications from 48 states, the District of Columbia, and 4 territories, and approved over 49,000. These approved applications total nearly 1.5 gigawatts of expected energy capacity and approximately $3.5 billion in public and private investment into communities. As described below, these facilities are estimated to generate $270 million in offset energy costs annually.”
Biden-Harris Administration Marks Major Milestones for Offshore Wind, Approves 10th Project
“The Biden-Harris administration at the moment introduced the approval of the Maryland Offshore Wind Challenge — the nation’s tenth commercial-scale offshore wind vitality venture authorised beneath President Biden’s management. With at the moment’s approval, the Division has authorised greater than 15 gigawatts of fresh vitality from offshore wind vitality tasks — equal to half of the capability wanted to attain President Biden’s purpose of 30 gigawatts of offshore wind vitality by 2030. Tasks authorised so far will energy 5.25 million houses. “
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