In the News!
We are thrilled to share that our team’s work has been spotlighted in a recent article by Canary Media!
Discover how churches are embracing solar energy and reaping savings, all thanks to innovative climate legislation. Our efforts in empowering nonprofits to generate solar savings and foster sustainable communities are making waves. Check out the full story to see how we’re making a difference!
“Lee Barken, chief community officer at CollectiveSun, a solar financing company that’s done about 200 solar projects for nonprofits in 25 states, agreed that direct pay is opening new opportunities. “We’re seeing parts of the country that previously were not cash-flow positive before that are now lighting up,” he said.
Using direct-pay tax credits isn’t necessarily simple, Barken cautioned. The payments from the IRS come up to a year after the projects are completed and the funds are applied for, which means that financing must be structured to cover that gap. And charitable donations raised for solar projects, which have already earned tax deductions for their donors, must be subtracted from the total cost of the solar project for the purposes of claiming direct-pay credits, he noted.”
