Four renewable energy suppliers in portfolio advance energy equity for priority populations
3Degrees, a leading global climate solutions provider, announced today the launch of the Community Action Portfolio (CAP), an offering that enables companies to support the rapid deployment of cost-effective, resilient renewable energy in North American communities where ordinary commercial solutions simply aren’t available. 3Degrees, whose mission is to enable organizations to take urgent action on climate change, created the portfolio because many companies find themselves unable to participate in the most impactful purchasing opportunities.
The CAP offering aggregates residential and community-based renewable energy generated over ten years. Its suppliers are four innovative, community-focused organizations that provide affordable, reliable energy to priority populations using a variety of innovative financing structures. Current CAP suppliers include: Barrio Electrico, Navajo Power Home, Solar United Neighbors, and Capital Good Fund. These supplier partners create small-scale distributed solar and solar-plus-storage projects for populations with inadequate energy services or with economic challenges that prevent access to ordinary commercial offerings.
The CAP’s initial release is completely subscribed thanks to the leadership of three technology companies, each of whom purchased CAP renewable energy certificates via a long-term, pre-paid contract. Follow-on releases are now available. Through this collaboration, 3Degrees’ customers help fuel the mission of CAP supplier partner organizations, whose work delivers multiple benefits to their customer populations.
These include:
- Replacing diesel generators with solar-plus-storage systems for off-grid homes on tribal nations;
- Providing solar-plus-storage leases in lower-income island communities where grid power is expensive and unreliable;
- Deploying targeted programs that gift entire renewable energy systems to qualifying homeowners;
- Creating low-cost solar leases designed for underserved communities state-by-state, in a program that is designed to scale.
“It was an honor to work with the amazing people at our supplier partners for the initial release of the Climate Action Portfolio, and it’s wonderful to see the positive reception and eagerness to participate from corporate customers” said Erin Craig, Chief Sustainability Officer and VP Customer Solutions and Innovation, 3Degrees. “Additionally, I’m proud of 3Degrees’ role – our underlying financial commitment allows us to offer the CAP product to a wide range of corporate buyers, broadening the opportunity to make impactful renewable energy purchases.”
“Thanks to the support of 3Degrees, we continue to grow and bring solar energy to more and more families in Puerto Rico, in solidarity with Puerto Rico’s energy transformation,” said Jorge Gaskins, Board Member, Acting CEO, Barrio Electrico.
“Our partnership with 3Degrees has enabled Navajo Power Home to support over 300 households with clean, affordable solar energy in Navajo Nation—providing reliable electricity where it’s needed most,” said Morgan Babbs, President, Navajo Power Home. “The support from this agreement goes beyond renewable energy certificates: it helps bring costs down and fund continuous operations and maintenance, ensuring long-term energy access, and importantly, it enables us to expand service to more families in the area.”
“The sun shines on everyone and everyone should be able to benefit from its rays,” said Dori Wolf, Solar United Neighbors’ Senior Texas Program Associate. “We’re excited to partner with 3Degrees to put solar energy where it’s most needed.”
“Capital Good Fund’s partnership with 3Degrees has made possible our first-of-its-kind Georgia BRIGHT Solar program, through which over 100 low-income families and the nonprofits and houses of worship that serve them have benefitted from rooftop solar and solar-plus-storage,” said Andy Posner, Founder & CEO, Capital Good Fund. “Given the challenging economics of solar in Georgia, 3Degrees’ Community Action Portfolio has been crucial in allowing us to deliver day-one and ongoing savings to households earning an average of just $77,000 a year.”
