Inclusive Prosperity Capital (IPC) is a financing nonprofit that works to fund solar energy projects in low-income communities, racial minority communities, and Justice40 disadvantaged communities. It does this through federal funding programs, state funding programs, investment banks, credit unions, and bridge loan programs while maintaining a “specific focus on equity, equality, and justice.” ¹

In 2023, IPC joined the Justice Climate Fund, ² a weather-dependent energy coalition that received nearly $1 billion in federal funding from the Inflation Reduction Act’s Clean Communities Investment Accelerator program. ³ In 2024, IPC was awarded nearly $250 million from the Environmental Protection Agency‘s Solar for All program. ⁴

History

Inclusive Prosperity Capital was started in August of 2018 as an offshoot from Connecticut Green Bank. In November 2018, it had its first deal with PosiGen, a residential solar energy provider. In May 2019, it received its first large grant of $10 million from the Kresge Foundation. In May 2020, it brought on NY Green Bank as an investor offering $25 million in capital. By January 2021, IPC was operating in New York, the District of Columbia, Maryland, Massachusetts, California, Nevada, and Puerto Rico. In April of 2022, IPC received $13 million from the MacArthur, McKnight, and Kresge Foundations. In late 2022, IPC received a $15 million loan from the Amalgamated Bank for expansion. In April 2023, IPC expanded into New Mexico and Arizona. As of 2025, IPC operates in 11 states and two territories. ²

Programs

Powering America Together

Powering America Together is an Inclusive Prosperity Capital-led program that was funded by a $249.3 million award from the Environmental Protection Agency (EPA) through the Solar for All program. The program covers 44 states and territories, with the EPA estimating that by investing $7 billion into solar energy programs for low-income communities, families could save up to $8 billion in energy costs. IPC planned to use its share of the $7 billion by offering “a variety of low-cost financial assistance, including predevelopment and construction financing, bridge loans for tax credits, permanent financing, and grants to support community solar projects.” ⁴

It sought to use the funds to lobby for solar-supportive legislation to lower costs and allow communities to more easily maintain solar panels. ⁴

Although IPC is the lead organization, this program is run by the Community Power Coalition, a group of solar-energy and housing advocacy organizations including Black Owners of Solar Services, the Clean Energy Group, the Coalition for Community Solar Access, Community Housing Capital, GRID Alternatives, the Interstate Renewable Energy Council, the People’s Solar Energy Fund, ROC USA, and the University of New Hampshire Carsey School Center for Impact Finance. ⁴

Smart E-Loan Program

Powering America Together’s Smart E-Loan Program offers loans of up to $50,000 for residential homes to fit solar panels and solar storage systems. It is conducted in conjunction with authorized lenders such as the Wells Fargo Foundation and Inclusiv, a network of over 50 credit unions.  It is available to people from low-income communities with bad credit and/or no money for down payments. It was originally developed by the Connecticut Green Bank and Michigan Saves. ⁵

Donor Organizations

Donors to Inclusive Prosperity Capital include the William and Flora Hewlett Foundation, Sierra Club Foundation, MacArthur Foundation, Kresge Foundation, McKnight Foundation, Amalgamated Bank, and Mercy Investment Services. ⁶

1. “About.” Inclusive Prosperity Capital. Accessed April 24, 2025. https://inclusiveprosperitycapital.org/about/.
2. “2023 Impact Report.” Inclusive Prosperity Capital, 2023. https://inclusiveprosperitycapital.org/wp-content/uploads/2024/07/IPC-2023-Impact-Report_v10.pdf.
3. Mazzoni, Mary. “‘Awesome, Historic, Momentous.’ U.S. EPA Distributes $20 Billion for Climate Justice: Now the Work Begins.” TriplePundit, April 10, 2024. https://www.triplepundit.com/story/2024/epa-20-billion-climate-justice/799086.
4. Liechti, Brian. “Inclusive Prosperity Capital, Inc. and the Community Power Coalition ‘Powering America Together’ Program Selected by U.S. Environmental Protection Agency for Solar for All Award.” Inclusive Prosperity Capital, April 22, 2024. https://inclusiveprosperitycapital.org/blog/2024/04/22/inclusive-prosperity-capital-inc-and-the-community-power-coalition-powering-america-together-program-selected-by-u-s-environmental-protection-agency-for-solar-for-all-award/.
5. “Smart-E Loan Fact Sheet.” Inclusive Prosperity Capital, 2023. https://inclusiveprosperitycapital.org/wp-content/uploads/2023/08/Smart-E-Fact-Sheet_v1.pdf.
6. “Partners & Supporters.” Inclusive Prosperity Capital. Accessed April 24, 2025. https://inclusiveprosperitycapital.org/partners-supporters/.