Correlate Energy Partners with Energetic Capital to Unlock a Major Untapped Market

Correlate Energy Corp. has announced a partnership with Energetic Capital to bring renewable energy resources to underserved communities.

This initiative combines Energetic Capital’s innovative financing with Correlate Energy’s expertise in renewable energy projects. The partnership will facilitate access to programs like the EPA Greenhouse Gas Reduction Fund (GGRF), making it easier to implement renewable energy projects in low-income areas. Despite the proven cost-effectiveness of renewable energy for households, businesses, and utilities, these benefits have largely been limited to higher-income areas, leaving low-income communities behind.

Disadvantaged communities often face challenges with energy access and higher costs. Two recent announcements from the EPA’s Greenhouse Gas Reduction Fund (GGRF) stress the importance of increasing renewable energy in these areas. The GGRF’s $7 billion Solar for All grant aims to help over 900,000 low-income households save $350 million each year. Additionally, the GGRF’s $14 billion National Clean Investment Fund grant will support the creation of national clean financing institutions, specifically targeting low-income communities that have traditionally been excluded from the green energy movement.

These grants open up a large market that has been difficult to finance in the past. The impact of these funds will be amplified by GreenieRE, a non-profit insurance company. Once GreenieRE is funded and licensed, it will help reduce the risks that slow down decarbonization projects. By providing essential insurance, GreenieRE will enhance the effectiveness of the grants, leading to significant and transformative changes in the market.

“We continually see numerous barriers to deploying renewable energy in cities and towns where most people live and work. We’re working with Energetic Capital to change that,” said Todd Michaels, CEO of Correlate Energy Corp.

“Our mission is to make sure distributed energy is fairly distributed,” said Jeff McAulay, CEO of Energetic Capital. “Correlate is one of the industry leaders in delivering distributed energy solutions to the C&I sector. With the addition of GGRF funding, these projects become even more possible through the creation of GreenieRE to take on risks that limit project investments.”