Solar Power for Nonprofits
Green finance and environmental experts at TriplePundit have crafted this excellent write-up on CollectiveSun and its mission to bring solar power to nonprofits through community investment. The pros at TriplePundit focus on three things: people, planet, and profit. CollectiveSun also embodies these three ideals by engaging people in the community, protecting the planet through clean and sustainable energy, and returning money to our investors.
TriplePundit identifies the fact that CollectiveSun’s primary focus – nonprofits – are a, “deeply underserved market in need of a solar power financing solution.”
Nonprofits struggle to procure the same type of financing that is often given to other for-profit institutions because they are not viewed as a reliable source of revenue, and they cannot benefit from the same tax incentives for solar that are given to for-profit companies. CollectiveSun CCO Lee Barken doesn’t think that nonprofits are getting a fair shake. “We shouldn’t penalize nonprofits for being nonprofits,” says Barken.
TriplePundit seems to agree with Barken and CollectiveSun, noting that there is a noticeable gap in the financing given to nonprofits compared to that given to for-profit companies.
Yet many nonprofits never considered solar power as a remedy to their financial woes simply because solar installations are expensive, and very few banks were willing to lend them the money they needed to get the solar installations installed. That’s where CollectiveSun comes in.
Fortunately, CollectiveSun has devised an innovative way for nonprofits to secure the funding they need to install solar installations that will benefit nonprofits and investors for years to come.
CollectiveSun’s mutually beneficial arrangement is a groundbreaking financial plan that will benefit nonprofits, the environment and investors alike. Perhaps Ellen K. from TriplePundit said it best: “This is an investment in my local community that hits all three P’s: People, Planet, and Profits!”