Austin Energy, in partnership with the Texas Solar for All Coalition, has been awarded a $250 million federal grant on Earth Day 2024. This significant funding will enable millions of low-income families to gain access to affordable and reliable renewable energy.
According to an Austin Energy press release, the Environmental Protection Agency provided the grant to facilitate the deployment of clean solar energy technology in disadvantaged communities. The funding is expected to broaden access to rooftop and community solar, which could reduce customer electric bills by over 20%. It also aims to create green jobs through a locally trained workforce, decrease carbon pollution as green energy usage increases, and enhance resilience with battery backup systems.
The press release further details that Austin Energy plans to use the grant for 15-year power purchase agreements for solar energy and performance contracts for storage batteries. These batteries will function as virtual power plants, benefiting Austin Energy customers by reducing their costs when market energy prices rise.
Richard Génecé, Austin Energy's Vice President of Customer Energy Solutions, said in the press release, "By focusing on expanding access to solar power, Austin Energy is helping relieve both the burdens of high-energy costs and carbon pollution that these communities disproportionately bear while strengthening our local grid resilience in the face of climate change."
The Texas Solar for All Coalition comprises 60 cities, counties, and community-based organizations from throughout Texas according to the press release. The coalition utilizes grant funds to promote investment in renewable energy, reduce greenhouse gas emissions, close the solar equity gap for low-income households, and create sustainable green jobs.
Finally, according to the press release, Austin Energy supplies electricity to residents in the City of Austin and its surrounding areas. Combined services reach more than 1.5 million households.