Solar Financing Finally Reaches Colorado Non Profits
January 4th, 2010 : Posted in Bella Energy News, Solar Energy News
Louisville, CO, Dec. 31, 2009 - Solar financing for non-profits and faith communities is often hard to find in these tough economic times. Thanks to a new program, developed by Colorado-based solar integrator Bella Energy, non-profit solar financing has finally reached Colorado.
Community Solar Partners is a unique solar financing program that has taken 3 years to develop. The program was designed to help non-profits and faith communities make critical investments in their infrastructure while reducing the price of investing in solar by about 30 percent. The first solar project financed under Community Solar Partners was recently completed at Our Savior’s Lutheran Church, of Denver, CO.
“We see this as part of our calling to be stewards of the resources we have been given…it’s the faithful response out of gratitude for the goodness and beauty of Creation” said Pastor Paul Carlson during a construction party for the recently installed 21 kilowatt solar energy system. Our Savior’s Lutheran looked at installing solar about 3 years ago, but without the advantage of the federal tax credit the cost was simply too high.
Former Director of Colorado Interfaith Power and Light, Diane Dandeneau, developed Community Solar Partners to help Coloradans, who had no solar financing programs available, afford the switch to solar. “After a long unsuccessful search for a non-profit solar financing solution for smaller organizations, we decided that the non-profits in Colorado needed a product like this. It took several years to figure out all the details and find the right financing partners. After seeing the excitement the new solar system generated at Our Savior’s Lutheran, I’m looking forward to helping other non-profits and faith communities start generating their own power.” said Ms. Dandeneau, now Special Programs Manager with Bella Energy.
Available for a limited time only, Community Solar Partners operates like a traditional power purchase agreement, or PPA. The solar energy system is owned by a third party investor who collects the federal tax credit, and eventually, the system can be purchased outright by the non-profit for a significantly reduced price. This financing method is often used for large scale solar energy systems, but wasn’t available for smaller solar energy systems. Thanks to Bella Energy’s Community Solar Partners, there are now options for non-profits looking to invest in green energy.
January 6th, 2010 at 9:47 am
Bravo for the non-profit PPA approach. I’ve had numerous discussions in the ripe NJ market on same subject, Small size jobs are only one problem. In a 5 muni bldg job for a local govt, we got entangled with what to do if a bldg function was moved or disabled for any length of time. The muni would have to pay a considerable amount under contract even with production temporarily suspended… so much for pay for only what you use. A 28 % solar relevant price reduction for 15 years (in a rotten muni govt revenue situation) wasn’t enough to satisfy the old boys in legal to make it happen. This is FYI.