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Courtesy of RMI.
By Max Lainfiesta, Nathaniel Buescher, & Michael Liebman 

Income inequality is palpable on the streets of the United States in cities and towns alike. On one block you may have neighborhoods with maintained roads and sidewalks, well-funded schools, and easy access to services including grocery stores, transit, healthcare, and banks. And on the next block you may have neighborhoods in transit or food deserts with vulnerable key infrastructure including streets, schools, and healthcare.

This checkerboard-like phenomenon becomes ever more apparent after a disaster, as communities with less resources wait, often literally in the dark, while construction crews and vehicles go first to the areas with more.

This was especially visible in Puerto Rico after Hurricane Maria, which struck four years ago on September 20, when communities endured the longest power outage in US history. Public aid for many lower- and middle-income communities was both insufficient and slow. That is why RMI and partners* formed the Puerto Rico Community Energy Resilience Initiative (CERI).

CERI’s goal is to advance access to reliable and renewable energy for critical facilities in low-to-moderate income communities using solar plus storage microgrids. Under a broader definition of critical facility, examples include hospitals and fire stations, local life-sustaining businesses, and non-profits providing essential services following disasters.

The CERI team spent a year working on pilot projects, community engagement, and financing vehicle development. In the end, the team found that a community-driven process combined with flexible capital and technical assistance is the most effective way to help achieve energy resilience for those whose needs are not served in the current market.

The CERI team on site at one of the critical facilities: Farmacia Jomari in rural Puerto Rico. During power outages after Hurricane Maria, the pharmacy provided critical health & financial services to local community members.

Putting All Communities in the Driver’s Seat

CERI puts Puerto Rican communities that received limited aid after disasters in the driver’s seat. The team does this by first listening to community stakeholders and then addressing their energy resilience needs by preparing and de-risking the project. CERI then uses a blend of capital from financial institutions and philanthropic organizations to advance access to reliable and renewable energy.

Currently, the CERI team is installing four pilot projects at critical facilities: two nonprofit organizations and two local businesses, with systems averaging approximately 63 kW of solar and 30 kWh of storage. The pilot projects highlight the importance of community ownership of systems, flexibility in designing a project’s financing, and timing for engaging different stakeholders.

When microgrid projects are locally owned, community members autonomously create their energy goals while simultaneously bolstering local economies and jobs. Facility leaders can determine which equipment and operations must continue during an outage based on their own experiences. This bottom-up involvement shifts accountability from external programs to the community itself.

Flexible Financing Adapts to Community Needs

It is crucial to have financing models that are scalable yet able to flex to individual project constraints. The CERI team will soon launch a financing vehicle which will provide critical facilities throughout the island with concessionary capital and technical assistance needed to simultaneously make systems more affordable and make financing viable.

Operationally, this equates to a lower interest rate and a shorter term on the loan used to pay for the facility’s microgrid. This grant funding contributes to the system’s down payment and to the creation of a loan loss reserve for financial institutions to allow facilities with varying credit histories to access competitive interest rates.

The CERI team’s initial vision was to award a project with an amount of grant funding so that the microgrid’s estimated monthly costs over a 10-year period would be less than the facility’s average monthly energy bill. Monthly costs include loan payments, maintenance, insurance costs, and fixed fees to the utility.

Although some facility staff prioritized the lower monthly energy costs, other facility managers were willing to pay more to reduce their loan term. Such scenarios highlighted the need for the CERI team to work with financial institutions to offer flexibility in the loan’s terms and/or payment options that do not penalize early payments.

Syncing Timelines of Multiple Stakeholders

From a timeline perspective, as the CERI team scales up, the team will ensure to use an inclusive and fair process for project recruitment and selection. This includes engaging with all types of communities (rural and urban, for example) and maintaining transparency with interested facilities.

Once projects are selected, CERI team members will be diligent to engage all the project’s stakeholders early in the project development process and use a competitive process whenever possible to find savings for the participating organizations. Such stakeholders include local financial institutions, local microgrid developers, and critical facility staff. These stakeholders have varying amounts of staff available to focus on a specific microgrid project and differing due diligence and review processes.

For example, financial institutions assess the facility’s financial history, developers build systems based on the facility staff’s requirements, and the facility staff decide whether to take a loan depending on costs and loan terms. If not lined up properly, these timelines translate into time-consuming due diligence processes and rounds of negotiation that can lead to delays in a project.

The Right System for Each Individual Need

Facilities have greatly varying needs differing on the types of electricity services, electricity rates, and on how and when they use energy. Therefore, technical assistance on energy modeling, system sizing, energy efficiency analysis, and procurement support is key to ensure that each facility has the right system and best price for its specific needs.

For example, a therapy and rehabilitation center may use power mainly during weekdays while a supermarket may require a steady energy supply 24 hours a day, seven days a week, 365 days a year. In the event of a prolonged power outage, facilities have very different critical load needs — while some facilities may be able to operate with 25 percent of the usual energy supply, others may require 50 percent or more. Time of use and critical load size have significant implications when designing battery size.

There are also physical constraints that affect project design. Some facilities may have a structurally sound roof that has enough space to accommodate the system, while others may not have enough roof space or may need significant repairs to accommodate a solar system. And some facilities may need ground-mounted systems that increase the system costs (ground mounted systems of this size are often more expensive than roof mounted systems based on the additional construction needed).

In most cases, facility owners and or administrators lack the experience and background needed to know if the system is right for their needs, if the price is appropriate given the market, or if the equipment meets the local requirements. With technical assistance, facilities can get the right system at the right price, and are likely to share their positive experiences with colleagues. This will lead to grassroots scaling of renewable energy in communities in Puerto Rico and beyond.

 The Importance of Capacity Building

Maintenance is key to the sustainability of these systems. Building the capacity to check the system, use pre-contracted O&M and warranties, replace parts as needed, and ensure continuous safety and system operation is essential. Through a CERI-specific capacity building plan, facility owners and administrators gain the knowledge required to understand the technical aspects, financials, and overall implications of acquiring and maintaining a solar-plus-storage microgrid.

What’s Next for CERI?

The CERI team is preparing a transition to a next phase of demonstration projects across Puerto Rico. This work will set the stage for the full implementation of a scaled-up financing vehicle where hundreds of facilities will benefit from affordable and resilient solar-plus-storage microgrids.

These microgrids will provide stable energy prices, savings from day one, the ability to continue providing essential services in the event of an emergency, environmental benefits, and ultimately, community resilience and wellness. They will enable all community members to receive critical services such as health care, food, water, and communication when needed most.

If you are interested in learning more, please contact us at CERI@rmi.org.

* CERI was founded by The Rockefeller Foundation; RMI; Fundación Comunitaria de Puerto Rico; The Puerto Rico Science, Technology, and Research Trust; the Association of Renewable Energy Consultants and Contractors for Puerto Rico; and Resilient Power Puerto Rico.

Featured photo by Wei Zeng on Unsplash

 

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Honda launches 2025 Prologue deals: Here’s how you can snag some savings

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Honda launches 2025 Prologue deals: Here's how you can snag some savings

Honda’s electric SUV took the US by storm, becoming the top-selling EV in the US outside of Tesla in the final three months of 2024. This year, Honda is making the Prologue even more attractive, upgrading it with over 300 miles of range. With 2025 Prologue models now arriving at dealerships, Honda wasted no time launching new deals this week.

2025 Honda Prologue EV deals and offers

After the first models were delivered last March, the Honda Prologue quickly became one of the best-selling electric vehicles in the US.

In the second half of 2024, the Prologue was the second best-selling electric SUV, trailing only the Tesla Model Y. This year, it boasts even more driving range and power.

Since Honda didn’t raise prices, it’s essentially a free upgrade (well, sort of). The 2025 Honda Prologue (2WD) now has a “top-class” EPA rating of 308 miles, up 12 miles from the outgoing model. It also packs 220 horsepower (+8) and 243 lb-ft of torque (+7).

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The Prologue is still available in single-motor (2WD) and dual-motor (AWD) versions in three trims: EX, Touring, and Elite.

The AWD version now has a range of 294 miles (+13) for the EX and Touring trims and 283 miles (+10) for the Elite. It also now packs 300 horsepower (+12) and 355 lb-ft of torque (+25).

Honda-2025-Prologue-deals
Honda Prologue Elite (Source: Honda)

With DC fast charging speeds of up to 150 kW, the electric SUV can add 65 miles of range in around 10 minutes.

The 2025 Honda Prologue starts at $47,400, but with the $7,500 EV tax credit, prices could fall to under $40,000. And that’s for the EX single-motor version with up to 308 miles of range.

Honda-Prologue-2025-interior
2025 Honda Prologue Elite interior (Source: Honda)

On Honda’s website, the 2025 Prologue is listed with a promotional rate of 2.99% APR for up to 60 months. Lease prices for the base model are not yet available, but the 2025 AWD EX is listed at $599 for 36 months with $4,299 due at signing.

Although the deals on the 2025 models are not nearly as good as the 0% financing and leases as low as $269 per month for the 2024 Prologue, Honda had to make up for the upgrades somewhere.

Trim Drive Configuration Pricing EPA Ratings
MSRP After Federal EV Tax Credit Plus $1,450
D&H
Range Rating MPGe Rating
(City/Hwy/Combined)
EX Single Motor (2WD) $47,400 $39,900 $41,350 308 113 / 94 / 104
EX Dual Motor (AWD) $50,400 $42,900 $44,350 294 108 / 90 / 99
Touring Single Motor (2WD) $51,700 $44,200 $45,650 308 113 / 94 / 104
Touring Dual Motor (AWD) $54,700 $47,200 $48,650 294 108 / 90 / 99
Elite Dual Motor (AWD) $57,900 $50,400 $51,850 283 104 / 87 / 95
2025 Honda Prologue prices, range, and drive configuration by trim (Source: Honda)

Honda is sweetening the deal with a charging package included in the Prologue’s price. You can choose from a free Level 2 home charger, a portable charging kit, or a $750 public charging credit.

The 2024 Honda Prologue is selling out fast with ultra-low lease and financing rates, while the 2025 model promises even more. Ready to try it out for yourself? You can use our link to find deals on the 2024 and 2025 Honda Prologue in your area today.

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Block bets on lending expansion after stock slump

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Block bets on lending expansion after stock slump

In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England. 

Leon Neal | Getty Images

With its stock down more than 30% this year and revenue growth slowing, Jack Dorsey’s Block is going bigger in lending.

The company on Thursday said it secured approval from the Federal Deposit Insurance Corporation to originate loans through its banking subsidiary, Square Financial Services, allowing it to offer small-dollar consumer loans directly rather than relying on external banking partners.

It’s an expansion of Cash App Borrow, the company’s short-term lending product. But it comes at a time of increased concerns surrounding consumer credit, with President Trump’s expansive tariffs and widespread government job cuts raising talk of a potential recession.

Transaction losses in Block’s lending segment jumped 39% last quarter, and while the company claims its underwriting model is strong, small-dollar lending is inherently risky.

“Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate,” Block said in the press release. The company added that the average Cash App Borrow loan was under $100 and about a month in duration.

Block didn’t immediately provide a comment.

In getting approval to operate the lending business out of its own bank, Block says it will be able to offer the product nationwide.

Last month, Block reported quarterly results that missed Wall Street expectations, with revenue growing just 4.5% from a year earlier. The stock plunged 18%, its worst one-day drop since 2020.

Around the same time, Block rolled out Afterpay, its buy now, pay later product, on the Cash App card. Chief Financial Officer Amrita Ahuja told CNBC that the launch aimed to provide customers with more credit options, and positioned Cash App as a banking alternative for some customers. Block acquired Afterpay, which competes with Affirm, for $29 billion in early 2022.

Also this week, Block announced a big investment plan in artificial intelligence.

The company said on Wednesday that it will deploy Nvidia’s AI systems with its latest Blackwell chips to power open-source AI research. Block didn’t say what specifically it’s looking to achieve through its AI buildout, but noted in the press release that it will “start exploring novel solutions for our customers.”

WATCH: Block shares drop after earnings

Block shares drop after reporting earnings and revenue miss

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Kia’s first electric van looks even better in person [Video]

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Kia's first electric van looks even better in person [Video]

Kia is launching its first electric van, the PV5, later this year. If you liked how it looked in pictures, wait until you see it in real life. A production PV5 was spotted in Korea for the first time, giving us a closer look at the futuristic van. See it for yourself in the video below.

Kia’s first electric van spotted in Korea

After teasing it for what seemed like forever, Kia finally took the sheets off the PV5 at its 2025 EV Day event last month.

With its hard-to-miss futuristic design, the PV5 is a near replica of the concept shown at CES last January. The mid-size electric van is set to kick off Kia’s new Platform Beyond Vehicle (PBV) strategy.

The PV5 will initially be available in Passenger, Cargo, and Chassis Cab setups, but with “unprecedented flexibility,” you can expect to see more options soon. Two of the first will be the PV5 Crew, with additional cargo securing options and a Wheelchair-Accessible Vehicle (WAV) version.

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After that, Kia will follow it up with Drop Side, Box Van, Freezer, Box, and Prime variations. It plans to launch a Light Camper conversion.

Kia PV5 spotted in Korea (Source: HealerTV)

With sales kicking off in the second half of 2025, Kia’s electric van was spotted in Korea for the first time without camouflage. A new video from HealerTV gives us a better idea of what to expect when the PV5 hits dealerships later this year.

The PV5 maintains its techy, almost ahead-of-its-time design. Two exterior body colors were shown: white and a darker grey or black. As the reporter notes, it actually looks like an upgrade from the concept.

Kia did what it could at the back so it didn’t look like a bus, giving it more of a rounded overall shape. You can see how it stands apart from most MPVs you see today.

Like the Volkswagen ID.Buzz, Kia’s PV5 looks more like a minibus. At 4,695 mm long, 1,895 mm wide, and 1,899 mm tall, Kia’s passenger electric van is slightly smaller than the European ID.Buzz model (4,712 mm long, 1,985 mm wide, 1,937 mm tall).

It will be available with 51.5 kWh and 71.2 kWh battery packs, good for up to 400 km (249 miles) WLTP range. The PV5 can also fast charge (10% to 80%) in about 30 minutes. In comparison, powered by an 84 kWh battery, the ID.Buzz now offers up to 293 miles WLTP range.

Kia will launch sales in Korea and Europe later this year, followed by other global markets in 2026. Pre-orders will open soon, so check back for prices.

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