Success Stories

Solar Energy Renovation

Santa Fe County Housing Authority (SFCHA) and Truth or Consequences Housing Authority (TCHA), NM


$1.9 Million provided by TBL Fund


• 5 properties including Villa Del Sol Apartments that are approximately 50 years old in deteriorating condition and have inefficient energy usage
• Public Housing Authorities (PHA) wanted to preserve housing AND implement Energy Efficent & solar upgrades
• HUD does not allow equity or debt on PHAs ➔ EPC is the only solution
• Projects were too small to interest mainstream institutions


Project Sunlight

• Entire Five Properties signed up for EPC
• ICAST as contractor and TBL Fund as investor
• SFCHA - 220 kW PV / TCHA - 233 kW PV
• HVAC replacements, Low-flow devices, LED Lighting, Ventilation, Weatherization, Smart thermostats, CO and Smoke Alarms


  • Financial Institutions via the Community Reinvestment Act (CRA)
  • U.S. Department of Agriculture-Rural Development
  • Program-Related Investments from Foundations
  • Impact investors


Social Impact

  • Improved health and safety for approximately 300 low-income households
  • Local Job Creation and Workforce Development
    • Over 37 jobs created/retained
    • Paid Internships for 10 Youth Build trainees

Economic Impact

  • Increased affordability of Housing
    • Lifetime utility cost savings of $5,967,489

Environmental Impact

  • 38,548,401 lbs of Carbon Emissions reduced over a lifetime
  • 11,481,662 kWh lifetime savings
  • 1,512,197 Thermal lifetime savings
  • 26,691 gallons of water saved over a lifetime