Estimated $100 Million/Year for 10 Years.
More than 15 Times More Funds Allocated than MASH
California Assembly Bill 693, Chapter 582 is the Multifamily Affordable Housing Solar Roofs Program signed into law October 8th, 2015. The bill states, “It is the goal of the state to make qualifying solar energy systems more accessible to low-income and disadvantaged communities”. The new program is for “the express purpose of lowering the energy bills of tenants at low-income multifamily housing”. In 2017, the bill was implemented by the California Public Utilities Commission as the Solar On Multi-Family Affordable Housing Program (SOMAH).
- The CA Cap and Trade law is the main source of funding for the Program.
- 80-100% of costs are subsidized from SOMAH
- Estimated $1 Billion dollars over ten years.
- Available for existing multifamily, financed with low-income housing credits, tax exempt mortgage revenue bonds, general obligation bonds, or local, state or federal grants.
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