Originally published on TBL Fund’s blog, this piece was created to help affordable housing providers understand how mission-driven financing can unlock access to solar energy.

At first glance, solar energy seems like a perfect fit for affordable housing. Lower utility bills, healthier indoor air, and a smaller carbon footprint—all wins for residents and property owners alike. But when you dig into the fine print of federal housing programs, the road to solar isn’t quite so smooth.

Why Financing Is the Barrier—Not the Technology
For owners and developers of multifamily affordable housing (MFAH), the challenge isn’t interest or intent. It’s access to financing. Programs like HUD Section 8 and LIHTC (Low-Income Housing Tax Credit) often come with layers of regulation that limit how buildings can generate or allocate savings from renewable energy. Even when solar makes perfect sense for the environment and the community, traditional lenders may view it as financially incompatible with subsidy restrictions.

That’s Where TBL Fund Comes In
At Triple Bottom Line Foundation (TBL Fund), we specialize in bridging this gap. As a mission-driven lender and Community Development Financial Institution (CDFI), we understand the nuances of clean energy financing for regulated housing. Our approach blends flexible underwriting with deep technical partnerships to help affordable housing providers unlock the benefits of solar.

How Our Financing Works
TBL Fund provides predevelopment loans and long-term capital that align with housing compliance requirements. We collaborate with installation partners and leverage innovative ownership structures—such as third-party power purchase agreements (PPAs)—to ensure projects meet both energy and financial goals.

For example, by combining soft-cost financing with program-aligned repayment terms, we recently helped a nonprofit housing developer in Colorado add solar to a LIHTC-funded building without disrupting their rent structure. The result? Lower electric bills for tenants and a new
long-term asset for the owner.

Why It Matters
The potential impact of solar in affordable housing is enormous—but too often, financing is the barrier. TBL Fund is working to change that. With deep experience in both housing and energy, we help communities move beyond aspiration and into implementation.

If you’re an affordable housing provider exploring clean energy, let’s talk. Together, we can find a path that makes financial, environmental, and social sense.