Solar Helps Nonprofits Save Money
There are more than 1.5 million nonprofit organizations in the United States, and they’re looking for ways to stretch their dollars farther. Solar energy is an excellent option to reduce electrical costs and be good stewards of their limited budgets.
As with commercial businesses, solar makes sense for many nonprofits. Solar panel systems are more affordable these days, and financing options make it easier for nonprofits to reap the benefits of sustainable energy.
Some nonprofits are committed to the environmental benefits of green energy, and solar is a good way to meet that goal.
Financing Solar For Nonprofits
Because nonprofits are tax-exempt, they are unable to take advantage of the Federal Investment Tax Credit (ITC). And many nonprofits don’t have the funds to install a solar panel system.
SunVest Solar helps our nonprofit customers explore all the financing options, including leasing or power purchase agreements (PPA), where allowed.
With a PPA, SunVest builds and owns the system and covers the cost of installation and maintenance for the life of the agreement. We then sell the solar power to the customer at a fixed rate, typically at a lower cost than the local utility.
With a lease agreement, the customer leases solar equipment from SunVest and benefits from the solar power generated. In return, SunVest benefits from the tax credits and incentives available to owners.
Alternatively, a nonprofit might choose to pursue grant funding. SunVest can help identify potential grants and even assist with grant writing.
Check out some of our nonprofit projects for more information.