Spanish 
English 
Safe harbor investments preserve federal tax credit eligibility and accelerate solar access for underserved communities
Providencia, Rhode Island — Nonprofit Community Development Financial Institution (CDFI) Capital Good Fund announced it has safe harbored a pipeline of more than $50 million in solar projects as part of its BRIGHT solar leasing initiative, in partnership with Pennsylvania Solar Center. The funding preserves federal Investment Tax Credit (ITC) eligibility and supports the deployment of twenty-four megawatts (MW) of commercial solar projects serving mission-driven organizations.
Since launching residential and commercial solar leasing pilots in Georgia in 2023 and expanding to Pennsylvania in 2024, BRIGHT has helped remove financial barriers to solar access for hundreds of homeowners and community-serving organizations. Through the program, Capital Good Fund offers low-cost power purchase agreements (PPAs) to nonprofits, houses of worship, affordable housing developments, municipal facilities, and small businesses, enabling participants to realize savings from day one.
By safe harboring equipment for the next phase of this program, the organization is able to secure current tax credit rates while reducing exposure to future policy changes. This approach also provides Capital Good Fund and its partners with an additional four years to place projects in service, helping to mitigate the impact of the ITC step-down in 2027.
“This milestone represents a powerful display of philanthropic commitment to energy equity,” said Anika Wistar-Jones, Regional VP, BRIGHT. “By safe harboring equipment and investing in the infrastructure needed to deploy it, we are positioning dozens of mission-driven organizations to benefit from stable, affordable energy for decades to come.”
“Georgia’s economy is growing rapidly, and our energy system is going to have to grow to meet the moment,” said Alicia Brown, SVP, BRIGHT Programs. “The BRIGHT team is excited to play a role in bringing new, clean resources to the system while also stabilizing prices for community organizations and families.”
To secure critical project equipment, Enphase Energy, Inc. has partnered with Capital Good Fund to deliver approximately 24 megawatts of mission-aligned commercial and industrial (C&I) solar projects across Georgia and Pennsylvania. These collaborations help ensure equipment is procured in advance, enabling timely deployment and protecting access to federal tax credits.
In Pennsylvania, Capital Good Fund is working with Pennsylvania Solar Center to develop nearly $40 million in solar projects over four years through their GET Solar consulting program. Nearly 60 small businesses, nonprofits, and municipalities are expected to go solar through Capital Good Fund’s solar leasing model, saving money for the next 25 years while taking advantage of soon-expiring federal tax credits.
“The PA Solar Center is so proud and grateful to be partnering with the Capital Good Fund in this revolutionary approach to lowering energy bills across Pennsylvania,” said Sharon Pillar, Founder and Executive Director of the PA Solar Center. “Our nonprofit’s GET Solar program has been offering trusted, unbiased guidance to hundreds of entities for the past eight years by helping them decide whether solar is right for them, as well as connecting them to financing options and qualified solar developers. It’s a dream to help an estimated 60 of them go solar in one fell swoop with Capital Good Fund, especially since many of them were too small to get this type of financing on their own.”
The initiative is powered by early support from a coalition of mission-aligned community supporters committed to advancing access to affordable solar nationwide. This safe harbor strategy was made possible through initial funding from The Reinvestment Fund, The Kresge Foundation, The Reilly Family Fund through the Community Foundation for Greater Atlanta, and operating grant support from The Hive Fund for Climate and Gender Justice, Invest In Our Future, and Green Family Foundation. Together, these funds enable Capital Good Fund to secure equipment for future projects while building the organizational capacity needed to scale programming across the two states and additional markets as expansion opportunities arise. The organization is actively seeking additional partners to support the program’s continued expansion in both current and new markets.
“Clean energy is fundamentally an investment in community strength. Through our work with Capital Good Fund, we’re helping mission-driven organizations reduce costs and redirect resources where they matter most,” said Elizabeth Friend, Director of Clean Energy & Sustainable Finance at The Reinvestment Fund. “This partnership with Capital Good Fund ensures that the financial benefits of the energy transition reach the organizations that power local resilience.”
“Capital Good Fund is leading the way with a safe harbor strategy that others are following,” said Joe Evans, Senior Social Investment Officer at The Kresge Foundation. “They’re demonstrating the promise of Direct Pay to give non-profit solar providers a more level playing field, enabling communities that suffer from disinvestment to benefit from the economies of scale and expertise Capital Good Fund provides. We are proud to support a collaboration that demonstrates a pathway to broad-based adoption of clean energy assets.”
“Catalytic capital is essential in moments of funding uncertainty – it allows us to move quickly, take thoughtful risks, and stand alongside our community partners like Capital Good Fund when it matters most,” noted Sydney Hulebak, Director of Impact Investing, Community Foundation for Greater Atlanta. “By deploying patient and flexible capital in partnership with donors like James Reilly, we can invest in strategies that are critical to advancing a more resilient and equitable metro Atlanta.”
Programming is expected to launch throughout 2026. For Georgia-related inquiries, contact gabright@capitalgoodfund.org, and for Pennsylvania, pabright@capitalgoodfund.org. Those interested can also sign up for the program newsletter.
For more information about Capital Good Fund, visit CapitalGoodFund.org.
Acerca del fondo Capital Good
Capital Good Fund is a nonprofit, U.S. Treasury-certified Community Development Financial Institution (CDFI) with a mission to create pathways out of poverty and advance a green economy. The organization offers financing, low-interest loans, and one-on-one financial coaching for the lower-income residents of Rhode Island, Texas, Illinois, Florida, Delaware, Massachusetts, New Jersey, Georgia, Connecticut, Pennsylvania, and Colorado. Since their founding in 2009, they have financed more than 18,000 loans totaling over $66 million with a 97% repayment rate and graduated over 2,000 people from their Coaching program. More at GoodFund.us.
