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Financing can be one of the biggest hurdles for a solar project. Even if you understand solar basics and have the information you need to prepare your nonprofit for solar, you may run into this stumbling block.
But it doesn’t have to hold back your project. If you’re concerned about how to finance solar for your nonprofit, we have two pieces of good news:
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- The Inflation Reduction Act (IRA) has opened up new financing options for nonprofits that can greatly reduce the cost of going solar.
- CollectiveSun specializes in financing! Because we are committed to increasing access to solar financing for nonprofits, we go beyond helping you navigate the options — we can also finance your project, if that’s the route you choose.
The Inflation Reduction Act
Clean energy in the U.S. has largely been incentivized by tax credits like the Investment Tax Credit (ITC). These are financial incentives that reduce the cost of your project by lowering your tax obligations. Before the IRA passed, tax credits were available only to taxable entities. That left nonprofits, churches, and schools out of the equation. These entities could go solar via a third-party ownership arrangement such as a subscription model or power purchase agreement (PPA), but they couldn’t directly take advantage of the ITC.
That’s all changed with the direct pay feature of the IRA. There are still some nonprofits that prefer third-party ownership options, but for the first time ever …
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The Solar Spotlight:
Solar Spotlight: LFJCC
The Lawrence Family Jewish Community Center (LFJCC) Jacobs Family Campus, in San Diego, California is committed to providing a welcoming and inclusive environment for the region’s diverse Jewish community as well as the greater general community. No matter what your background or faith, the LFJCC welcomes all to be part of their community.
The LFJCC’s work is now supported by a new solar system on their building and parking lot. Dan Shapiro, LFJCC Marketing Director, filled us in about the organization and their solar project.
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The Solar Spotlight:
Who benefits from the programs and services you provide?
The mission of the LFJCC is to connect our community with Jewish heritage, identity, experiences, and values, ensuring the continuity and vibrancy of Jewish life. We fulfill this mission by promoting the community’s physical and mental well-being and offering a rich array of stimulating and innovative social, cultural, educational, and recreational programs and services.
That includes the entire San Diego community. The LFJCC is committed to providing a welcoming and inclusive environment for San Diego’s diverse Jewish community and its greater general community.
Tell us about your solar system
Our solar installation — a 463.8 kW rooftop and carport system with 876 panels — significantly reduces our carbon footprint and yields savings that enhance our ability to provide vital services …
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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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Behind-the-meter solar for homes, businesses, and communities comes with numerous benefits, says a paper from Stanford engineering professor Mark Jacobson. Local solar reduces land requirements, helps accelerate electrification, reduces the need for transmission lines, and much more.
The Inflation Reduction Act has increased solar panel manufacturing capacity — which has quintupled — revived domestic cell production, and sparked a surge in solar deployments.
The US saw solar power generation grow by 21.6% over the last year, with 26 states outpacing the national average. Among these, a group of 15 states achieved remarkable growth of over 50%, led by some surprising players.
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