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CollectiveSun Joins the U.S. Department of Energy Better Climate Challenge as a Financial Ally
The company has committed to finance $25 million in renewable energy projects.
SAN DIEGO, CA — September 17, 2024 — CollectiveSun, a company dedicated to assisting U.S. nonprofits and tax-exempt organizations in funding solar projects, is proud to announce its partnership with the U.S. Department of Energy’s Better Climate Challenge.
The Better Climate Challenge is a national leadership initiative calling on CEOs, university presidents, and state and local leaders to reduce greenhouse gas emissions, create jobs, and promote healthy, safe, and thriving communities. The program challenges organizations to set ambitious, portfolio-wide greenhouse gas emission reduction goals, providing opportunities for peer exchange and technical assistance to meet the urgent call to mitigate the impacts of climate change.
As a Financial Ally in the Better Climate Challenge, CollectiveSun has committed to finance $25 million in renewable energy projects to help drive the transition to a clean energy economy. CollectiveSun joins a group of 40 Financial Allies, market-leading financing companies that have committed to providing innovative financial products to help Better Climate Challenge partners and other organizations fund decarbonization efforts, demonstrating transparency in their approaches for others to follow, and working with DOE to educate the market about financing opportunities.
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The Solar Spotlight:
SOLAR SPOTLIGHT: TSO
Formed in 1928 as the first professional symphony orchestra in the Southwest, the Tucson Symphony Orchestra (TSO) is the longest continuously performing professional arts organization in Arizona.
Now, it also has the distinction of a brand-new solar carport, financed with help from CollectiveSun. We had a chance to talk with Paula Egan, VP of Finance at the TSO, to learn more about the organization and their solar project.
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Serving the Community with Music and Education
The mission of the Tucson Symphony Orchestra is to build and enrich the community through the experience of live music of the highest quality. The TSO provides a wide range of orchestral and educational programming to serve over 50,000 patrons and 20,000 students annually.
Egan notes that the arts industry was hit very hard by Covid, and the government support that was available to help has now run out. “Our biggest urgency is to rebuild our audiences,” she says, “and rebuild them with different audiences than have traditionally been a part of symphony concerts. So we’re diversifying our programming to be as relevant as possible to our community.”
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That includes the Hispanic community, which has a major presence in southern Arizona. The TSO has expanded their community events to include a National Mexican Independence Day program.
To reach all community members, the orchestra puts on an annual free concert that provides a sampling of the symphony’s season.
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Diversified programming includes playing music live to movies like Frozen and Star Wars. “Because our programming is now so diverse, we welcome all audiences to come check out the symphony,” says Egan. “There’s something for everyone.”
Going Solar
The TSO has owned the Tucson Symphony Center since 1996, and the electricity bills for that facility have historically made up over 25% of the center’s operating costs …
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Know A Nonprofit?
If your favorite nonprofit organization is exploring going solar and their mission is to provide programs & services that support communities of concern benefitting:
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CollectiveSun is here to help you with your solar financing.
| Interest Rates Start at 4.99% |
| Rates Are Based On Community Impact, Not Just Credit Score |
| One Simple Payment | Term Length Up To 10 Years |
| Payment Holiday Durning Construction of System | No Prepayment Penality |
Our goal is for you to end up with a solar system that reduces your carbon footprint and is a $0 down investment with a positive cash flow from day one, so it has an immediate impact on your bottom line. That’s what we want most for the organizations that are the backbone of our communities — financial and environmental sustainability that allows you to concentrate on your mission and reach your sustainability goals.
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If you’d like to learn more, schedule a meeting with Nicole here.
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Navigating the world of solar financing can be daunting, but it doesn’t have to be. Our team of seasoned experts has been focused on delivering solar financing solutions for nonprofit and tax-exempt organizations across the country for over a decade. In just the last few years, we’ve proudly facilitated solar projects for over 200 nonprofits spanning 25 states.
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At CollectiveSun, we understand that every nonprofit is unique, and that’s why we offer a diverse range of financing options. Whether you’re considering a loan like our CollectiveSun Solar Loan designed to support your purchase of a solar system while allowing you to benefit directly from the Direct Pay Tax Rebate; exploring third-party ownership options like our CollectiveSun Solar Power Agreement (SPA); or seeking a hybrid funding model like our CollectiveSun Prepaid Solar Power Agreement (Prepaid SPA), we have the perfect solution to match your solar financing needs.
For those looking to dive deeper into how Direct Pay can benefit you, we’re excited to offer a free comprehensive course series on HeatSpring. This series covers not only Direct Pay but also the additional ITC bonus adders, providing you with all the information you need for when your filing is due.
📚 Enroll in the free course here:
CollectiveSun HeatSpring Direct Pay & More Course Series
You’ll discover how these incentives can make solar energy even more accessible and cost-effective for your nonprofit organization. Together, let’s harness the power of the sun to fuel your mission and create a brighter, more sustainable future for all.
Let’s connect and start the conversation!
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In the largest solar grazing agreement in the U.S. to date, over 6,000 sheep will be used at eight solar plants in Texas to trim away excess vegetation over more than 10,100 acres of land. The solar panels shade the sheep as they graze on hot days, and the soil, vegetation, and environment benefit from a reduced need for herbicides and fossil-fuel-powered mowers, sheep manure fertilizing the soil, and dispersal of seeds via the sheep.
The American Clean Power Association found that U.S. clean energy installations grew 91% year-over-year in Q2, with developers bringing 11 GW of utility-scale clean energy resources online in Q2 2024 alone. Solar provided about 61% of quarterly clean power installations, with about 6.7 GW deployed. The U.S. now has over 283 GW of operational clean power – enough to power nearly 70 million homes.
The US appetite for electricity grew massively in the first half of 2024, and solar power rose to the occasion. Generation from utility-scale power plants rose 5% from January to June of 2023, to 2.1 million gigawatt-hours. That’s the highest percentage increase in decades, but we need much more renewables-powered energy generation to keep up with increasing demand.
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