Thread by @JigarShahDC

This was an amazing podcast (as usual from @drvolts). Thanks for the shout-out to LPO and the other great programs here. A few thoughts as we get more intentional about savings money for LMI consumers -- reducing energy burden.

https://twitter.com/CESA_News/status/1652005016364826668

The data that Vero talked about is summarized here. We have long known that LMI customers repay energy related loans at a much higher rate then other loans that they take out. But lenders still charge 30% interest for appliances, other loans. emp.lbl.gov/publications/l…

We can solve that problem and start to do that by making existing financing solutions more inclusive, see the @SunnovaEnergy announcement this month. Also allows LMI customers to take advantage of #VirtualPowerPlant income. energy.gov/lpo/articles/l…

One topic that came up was "ownership" vs. Third-party-ownership. This gets pretty emotional for many, but the most important part of this is maintenance. #Solar is not maintenance-free, and the owner is responsible for the effort and any costs. poptopic.com.au/article/7-comm…

There are $Billions in incentives available to help save money and reduce #energyburden in the #InflationReductionAct, but it requires effort to use them. DOE summarizes many of the programs and help you find your way through the complexity here: energy.gov/save

It is also important to note that the scale of the problem is large. Almost 1 in 6 households are behind on their electricity/NG bills. #LIHEAP assistance is important, but reducing these bills once and for all should be the priority. thehill.com/opinion/energy…

Between household appliances, HVAC replacements, solar+storage, home EV charging, US households invest almost $10B/month. 40% of these investments come from Low-Moderate Income customers often at upwards of 30% interest. It shouldn't be "expensive to be poor".

Biggest problem is that many LMI communities don't know who to trust. They have been burned before. Also as Vero explains, developers have either ignored these customers or have engaged in enough bad practices to cause people to think twice. That has to change.

Each and every month, consumers are buying $10B of appliances, #heatpumps, #solar, #Evchargers so we have an opportunity to earn that trust back, one transaction at a time. We need to engage with communities to help educate and develop tools so people can make informed decisions.