In 2020, Boulder Housing Partners (BHP), the City of Boulder and GRID Alternatives finalized the installation of a new community solar project that is completely dedicated to offsetting energy use for BHP and its affordable housing residents - one of the first solar gardens in Colorado to be dedicated solely to low-income households.

The 3.8-acre greenfield sited community solar project will result in estimated energy cost savings of $647,237 over 20 years. Those savings will serve the dual purpose of reducing BHP’s operating expenses and providing direct utility bill savings for residents. The solar garden is part of BHP’s sustainability initiative to become 100% powered by renewable energy.

The impacts go beyond utility savings as GRID’s Tribal Program oversaw the project installation while providing hands-on workforce development training for 16 participants from Indigenous Nations. The training included a unique online Solar 101 session, OSHA-10 Construction Safety certification course, and hands-on solar installation training while employing them for the project. Trainees ranged from students to retirees representing seven states and at least nine Tribal Nations.

Project Structure

• The project benefitted from a $360,000 Program-Related Investment (PRI) (~30% of Project Cost) from BQuest Foundation at a fixed rate of return of 1.5% over ten years.

• The PRI improved project-level cash flow and provided significant credit enhancement and increased economics for “traditional” capital providers, allowing for the full realization of the federal investment tax credit (ITC) along with a municipal grant, developer equity, and construction financing.