SCHOOLS AND NONPROFITS
SCHOOLS AND NONPROFITS NOW HAVE THREE OPTIONS TO GO SOLAR
The nonprofit purchases the system for its building and/or property and will own all of its electrical output. Direct ownership of a system makes sense for your organization if you are able to raise funds to cover the cost of the project, offer cash up front, or get access to specific state incentives and grants.
A third party (such as a solar developer or a group of community investors) will own, operate, and maintain the solar system on behalf of the organization. The organization then pays the third party for the electricity produced by the solar system at a set price per kilowatt hour (kWh).
Brand new way to own solar
We now offer a short-term lease with system cost buydown. Under this finance option, non-profits lease the system from a third party owner, who receives the tax incentives. In return, the system price is immediately reduced by 15% to 35% - the reduced balance is 100% financed through the State-run CPACE program. Production is guaranteed for 20 years and for the first time, the non-profit receives the utility's performance based incentive, ZREC. All combined the realized saving for the non-profit can as much as 200% more than a tradition solar PPA.