B.O.S.S. Treasury 48(e) Statement

FOR IMMEDIATE RELEASE: February 21, 2023

info@blacksolar.org

Black Owners of Solar Services (B.O.S.S.) STATEMENT on US Treasury’s Initial Guidance Establishing Program to Allocate Environmental Justice Solar and Wind Capacity Limitation Under Section 48(e)

Black Owners of Solar Services (B.O.S.S.), the nation’s largest network of black owned solar
developers and related businesses, is pleased to see the long-awaited guidance, released
February 17, 2023, by the US Treasury Department regarding certain provisions within the
Inflation Reduction Act that aim to increase investments in low-income and underserved
communities.

The Low-Income Communities Bonus Credit program under Section 48(e) creates a credit for
solar and wind projects (including those that are paired with storage) that are on Tribal Lands or
serving low-income communities. To promote the program goals of fostering equity in low-income
and marginalized communities, the guidance further incorporated additional criteria in determining
how to allocate the Capacity Limitation for the bonus credits. These additional criteria include
focusing on facilities that (i) are owned or developed by community-based organizations,
(ii) have an impact on encouraging new market participants and (iii) provide substantial
benefits to low-income communities and individuals marginalized from economic
opportunities.

Ajulo Othow, B.O.S.S’ President, noted, “B.O.S.S. supports the additional criteria as a critical step
in the right direction to address the historical marginalization of low-income communities and to
level the playing field for solar businesses that are operated and/or owned by individuals
historically marginalized from economic opportunities.”

B.O.S.S. submitted formal comments to the Treasury Department in the fall of 2022 and worked
with advocates to send-initial guideline comments on application criteria, meaningful financial
benefits, and minimum discount savings B.O.S.S. firmly believes that the Treasury’s guidelines
provide substantial benefits to low-income communities - directing funds to where they are most
needed and will have the greatest impact.

About Black Owners of Solar Services: B.O.S.S. is the largest clearinghouse of African
American professionals working in the solar photovoltaic (PV) space. The mission of B.O.S.S. is
to combine and leverage the collective power of its members - entrepreneurs, financiers,
veterans, attorneys, engineers, contractors, developers, and other peer partners - to lead
actionable solutions for sustained access to equitable opportunities in clean energy production,
distribution, and storage for Black-owned businesses.

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SEE THE STATEMENT IN PDF HERE.