The Department of Housing and Urban Development on Thursday will announce the availability of new funding to make low-income homes more energy-efficient.
. Yet many low-income Americans may not be aware of these subsidies, or they may lack the time and resources to claim them.To address this issue, the law provided HUD with $837.5 million in grant funding and $4 billion in loan commitment authority to implement the Green and Resilient Retrofit Program, which will pay for owners of low-income housing to install rooftop solar panels, heat pumps and other climate-friendly upgrades.
Already, HUD helps property owners offer reduced rent to low-income tenants by paying a portion of their rent. Under the new program, these property owners can apply for grants or loans to cover upgrades that improve energy efficiency, reduce water use or increase resilience to weather disasters. The spending could trickle down to tenants in the form of lower utility bills without increasing their rent.
“Nearly $1 billion sounds like a lot,” the official said. “It’s not a lot to reach all of them. But it will reach a lot of them.”As climate change has increased the frequency and severity of natural disasters, it is often low-income communities that get hit the hardest.
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