Grant Funds Benefit New Affordable Housing and Market-rate Projects Aligned with MBCP’s Commitment to Clean Energy and Greenhouse Gas Reduction
Monterey, CA. May 18, 2020 – Monterey Bay Community Power (MBCP) today announced the launch of its Multi-Unit Dwelling (MUD) Electrification Grant Program, making $1.2 million available for new projects located in MBCP service area.
Aimed at accelerating the construction of new all-electric housing to decrease reliance on fossil fuels such as natural gas, the MUD Electrification Grant Program supports local housing developers in the transition from traditional mixed-fuel building design to all-electric buildings. Funding for the MUD Electrification Grant Program totals $1.2 million. Housing developers may apply for $2,500 for each affordable housing unit, and $1,750 for each market-rate housing unit. Applicants can apply for up to $240,000 for each all-electric MUD housing project.
“MBCP continues to design and fund impactful programs that create meaningful greenhouse gas reductions and the electrification of our transportation and building sectors,” shares MBCP CEO, Tom Habashi. “In addition to saving our customers money on their monthly electricity bills, MBCP is taking a strategic and impactful step by helping to eliminate fossil fuels in new buildings from the start while creatively lowering the cost of new all electric construction to assist in addressing the ongoing housing crisis.”
MBCP begins accepting applications for the MUD Electrification Grant on May 26th at 9 AM Pacific Time. During the program’s first 90 days, 70% of total funds – equivalent to $840,000 – will be reserved for new affordable housing projects. At $2,500 per housing unit, this rebate incentive has the potential to support the development of 336 new affordable housing units anywhere in MBCP’s current service area.
The remaining 30% of funds – equivalent to $360,000 – will be available for market-rate developments from day one. All developers are encouraged to apply early to be considered for funds. After 90 days, remaining funds can be applied for by any local developer. Applications will be reviewed on a first-come, first-served basis beginning with applicants waitlisted during the first 90 days.
“Cost saving rebates are a cost-effective mechanism to incentivize developers to build without natural gas or propane service,” explains JR Killigrew, MBCP Director of Communications and Energy Programs. “And all-electric buildings are needed to help cities and counties bring online housing that promotes clean energy, energy efficiency and healthy living environments. This program has the potential to serve not only builders and municipalities, but also residents in need of affordable housing.”
MBCP is poised to bolster these building electrification efforts by offering reach code incentives for cities in MBCP’s service area in coming weeks. These incentives will provide financial support to adopt reach codes like the City of Santa Cruz did recently. For more information about MBCP Energy Programs, visit mbcp.org/energy-programs/.
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About: Monterey Bay Community Power is a Community Choice Energy agency established by local communities to source carbon-free electricity for Monterey, San Benito and Santa Cruz counties in addition to San Luis Obispo and Morro Bay as well as most of San Luis Obispo and Santa Barbara Counties starting in 2021. PG&E and SCE continue their traditional role delivering power as well as maintaining electric infrastructure and billing. As a locally controlled public agency, MBCP supports regional economic vitality by sourcing cleaner energy at a lower cost and advancing local energy programs to accelerate electrification, fuel-switching and resiliency. For more information, visit www.mbcp.org
Monterey Bay Community Power
Senior Energy Media Specialist