Founded in 2009, Capital Good Fund (Good Fund) is a nonprofit Community Development Financial Institution (CDFI) dedicated to creating pathways out of poverty and advancing a green economy through consumer lending, financial coaching, and solar leasing / Power Purchase Agreements (PPAs) via our BRIGHT program. Launched in 2023, our BRIGHT pilots have developed $8M of solar and storage projects for low-income households and community organizations in Georgia and Pennsylvania. 

With the recent passage of the One Big Beautiful Bill Act, there have been significant changes to federal tax credits. The residential solar tax credit will expire at the end of 2025, and commercial tax credits will become subject to new, onerous restrictions beginning January 1, 2026, before expiring entirely at the end of 2027. 

Fortunately, there is a short but promising window to "safe harbor" commercial tax credits under existing rules, if equipment worth at least 5% of a project's cost is bought by the end of this year. If a project "commences construction" in this way by December 31, 2025, the tax credit will be available so long as the project is placed in service within four years.

This RFI is intended for EPCs, Solar Developers, Project Hosts (for example, affordable housing owners), and Community Partners who wish to partner with Good Fund to preserve access to solar tax credits for the next  four years for their customers, properties, or community members. These tax credits would be passed through to households or commercial property owners in the form of lower monthly payments, on either a solar lease or power purchase agreement offered directly by Good Fund, or through a prepaid lease if the EPC or developer is able to offer customers a solar loan option to pre-pay the lease. 

Good Fund is actively raising capital and intends to make a sizable purchase of solar equipment by the end of the year to safe harbor the tax credit for a large portfolio of projects. The focus of Good Fund's capital raise will be to safe harbor the tax credit for underserved communities, including LMI households, affordable housing properties, under-resourced community based organizations, schools, local governments, houses of worship, and other mission-aligned entities. Good Fund is also looking to safe harbor the tax credits for non-LMI households, market rate multifamily housing properties, small businesses, warehouses, and other organization types, provided that a) the project host, developer/EPC, or some other party is able to put down a deposit for the equipment purchase and b) these projects are no more than 50% of the total pool of projects.

The responses to this RFI will directly influence Good Fund's pipeline projections and capital raising strategy.