CLEVELAND, Ohio, April 18, 2024 /PRNewswire/ — Growth Opportunity Partners (Growth Opps), a leading community financial institution and Green Bank, and the International Brotherhood of Electrical Workers (IBEW) today announced a groundbreaking agreement to collaborate on the implementation of the Solar for All program, funded under the U.S. Environmental Protection Agency’s Greenhouse Gas Reduction Fund. Growth Opps is the lead applicant for the $250 million grant on behalf of the Industrial Heartland Solar Coalition (IHSC), representing 31 cities in 8 states.
The Industrial Heartland Solar Coalition application to the EPA, led by Growth Opps and presented to the Solar for All program, uniquely provides full funding for residential and community solar installations by leveraging the energy tax credits newly available through the Inflation Reduction Act and transfers ownership of residential solar energy projects to program beneficiaries at no cost. The program will impact nearly 30,000 homes across IHSC’s eight-state region, with 100% of its benefits going to Justice40 communities.
The Memorandum of Understanding between Growth Opps and IBEW outlines their commitment to ensuring high-quality jobs with a diverse and skilled workforce for projects financed by the Greenhouse Gas Reduction Fund. Both organizations will work together to promote the use of Labor Agreements, comply with Davis-Bacon requirements, and expand IBEW’s training and apprenticeship programs to create opportunities for people of color, women, and workers from economically disadvantaged backgrounds and communities.
“At Growth Opps, we are committed to Meaningful Wage Jobs,” said Growth Opps CEO Michael Jeans. “This partnership ensures we will have a skilled labor force ready to provide high quality solar installations to complete nearly 30,000 rooftops for low-income residents.”
“This agreement with Growth Opps is a win, for both the climate and working people,” said IBEW International President Kenneth Cooper. “This partnership will help ensure the growth of residential renewable power, while creating good, family sustaining IBEW jobs that will open the doors of opportunity for communities across the country.”
The Solar for All program, administered by Growth Opps, will provide subawards to a network of community foundations, cities, and counties that constitute the IHSC. These program partners will play a crucial role in identifying eligible applicants and beneficiaries while also contributing to the development of a clean energy workforce in their respective communities.
For more information about the Solar for All program and the partnership between Growth Opportunity Partners and IBEW, please visit www.growthopps.org, or contact us at (216) 462-0600 or [email protected].
About Growth Opportunity Partners
Growth Opportunity Partners (Growth Opps) is a mission-based community financial institution and Green Bank dedicated to providing community development capital, services, and solutions to growing small businesses, primarily located in disadvantaged, low and moderate income (LMI) communities. Recognizing that capital markets have historically failed to reach low-income and communities of color in the same manner as others, Growth Opps was created to make capital, professional high quality advisory services, and data accessible. The organization bridges the gap between opportunity and access, ensuring that all communities have the resources they need to thrive.
About the International Brotherhood of Electrical Workers (IBEW)
The International Brotherhood of Electrical Workers (IBEW) represents approximately 820,000 members and retirees who work in a wide variety of fields, including construction, utilities, manufacturing, telecommunications, broadcasting, railroads, and government. The IBEW is committed to promoting excellence in the electrical industry and ensuring that its members have access to safe working conditions, fair wages, and comprehensive benefits.
SOURCE Growth Opportunity Partners, Inc.
