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A Look Inside ... 
National banks use their public welfare investment authority to invest in facilities that generate solar power, making them partners in the effort to increase the use of renewable energy.
Using the Public Welfare Investment Authority to Make
Solar Energy Investments
Does ‘Volcker Rule’ Affect Public Welfare Investments?
For More Information About Solar Energy Investments
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U.S. Bank Invests in Solar Installations at Affordable Housing Projects U.S. Bank joined with developer McCormack Baron Salazar to finance the installation of solar-energy systems on 11 existing affordable multifamily housing communities in various locations throughout California.
State Renewable Energy Programs and Requirements
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Bank of America Teams With Solar Power Partners Bank of America invested in a fund that financed the development of solar installations in 24 locations across California. The investment benefited both Bank of America, which received the energy investment tax credit, and a variety of commercial and public entities now enjoying lower electricity costs.
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Solar Manufacturing and Installation Generate Jobs For banks planning to invest in solar energy-producing facilities under the public welfare investment authority, one important factor in qualifying the investments is the potential for generating jobs for low- and moderate-income people. Increased employment in solar manufacturing and installation may help banks make that case.
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Federal Energy Investment Tax Credit and Grant Incentives for Solar Investments
The federal government offers energy investment tax credit and grant incentives to encourage banks and other investors to finance solar energy installations. Before banks invest, however, they should carefully examine the implications of each option.
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How ‘Green’ Investments May Qualify for CRA Consideration Loans and investments financing “green” buildings, energy-efficiency improvements, solar panels, or other renewable energy systems do not in and of themselves qualify for positive consideration under the Community Reinvestment Act (CRA). CRA consideration may be available, however, for those activities that otherwise have a primary purpose of community development and that also have a renewable energy component.
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