Reminder: Learn About Solar Options for your Faith Community

Is your faith community interested in solar and would like to be part of a zoom call on financing? Join us for an informational session online with Collective Sun. Contact Tom Stark, tstark1960@gmail.com if you would like to participate in this Zoom meeting on Jan. 12.

Here are two videos with more information:

Collective Sun’s Solar Power Agreement (SPA) is a third-party ownership model in the form of a prepaid service agreement. It allows a nonprofit to benefit indirectly from the federal tax benefits they cannot access when they purchase solar directly – making the transition to solar more affordable. Our minimum project size is 50kW or $150,000. In summary, the customer will prepay 88% of the total system cost directly to their chosen installer following a construction milestone schedule. CollectiveSun will pay the remaining 12% directly to the installer once we have a fully commissioned system.

The funds for the 88% prepayment can come from any number of sources including cash reserves, donations, grant funds, or any lender of their choice, including a loan from the SunForAll Solar Fund. The nonprofit will keep any state, local, or utility rebates/incentives available to them. The nonprofit will own the energy generated by the system from day one at no additional cost. We will own, operate and maintain the system.

At the end of the 6th year, ownership will transfer to the nonprofit for no additional cost. When the nonprofit prepays 88% of the project cost, they are prepaying a 20-year service agreement. Within that 20-year service agreement an early termination option becomes available to the nonprofit that allows them to take ownership of the solar system for no additional cost. The buyout is equal to the remaining 14-years of prepaid service agreement payments, resulting in a $0 net purchase – or no additional cost. In addition to the discount, nonprofits benefit from our project management and commissioning support.