LLP’s 2010 Developments of Distinction Awards

Honorable Mention: Make It Right Solar

 

 

Make It Right Solar is a subsidiary of the Make It Right Foundation, founded by actor Brad Pitt, and serves as a renewable energy developer focused on affordable housing. MIRSolar has completed more than 40 residential solar panel installations in New Orleans’ historic Lower 9th Ward, thanks in part to two new market tax credit transactions in the past ten months. The developer’s goal is to have 30 more installations complete by year’s end, bringing the total number to 73 homes with solar on the roof. The Make it Right Foundation has set its housing goal at 150 in the next two years. Most of the cash outflow associated with the building of the solar systems will be recouped in the form of government subsidies — MIRSolar applied for a 50 percent refundable Louisiana tax credit along with a 30 percent federal grant. Through these programs, MIR-Solar is able to offer financing programs that will make solar energy available and affordable to low-income housing developments.

See the full list of award recipients here.

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