Illinois IBA and KeyState Renewables Announce the Launch of IBA|SOLCAP 2024 LMI Solar Tax Credit Fund

The Illinois Bankers Association (IBA), through its subsidiary Illinois Bankers Business Services (IBBS), is partnering with KeyState Renewables (KeyState) to raise up to $75 million in solar tax equity capital from Illinois member banks. The capital will be deployed by KeyState in collaboration with an Illinois-based solar development partner to build 8-10 community solar projects throughout Illinois in 2024. These projects will primarily benefit low-to-moderate income (LMI) households in Illinois, reducing their annual electric bills by approximately 20-30%.