Non-Profit Solar Financing
If you belong to a non-profit organization, you may have a strong interest in the savings of solar, but realize that non-profit organizations cannot take advantage of tax related incentives like tax credits or depreciation. There are still opportunities for solar to secure cost savings for your organization. There are various incentives available at times in various geographic areas for solar installations that can help a non-profit organization, but frequently a Power Purchase Agreement (PPA) is the solution that can help your organization install a solar system for your non-profit organization. Paradise Energy Solutions partners with various PPA providers such as Sunstream Energy LLC to provide this option for financing. PPA’s are excellent options if you cannot use the tax credits and depreciation tax benefit. PPA’s are long-term (usually 25 years) agreements with a third party solar system “owner”, who will lease your rooftop or property for the system, then bill you a monthly amount based on your electricity usage much like your local utility does now, but at a guaranteed reduced rate. At the end of the term you would have the option to purchase the system for a reduced fair market value or extend the term of the PPA. Here at Paradise Energy Solutions we are prepared to help you arrive at the best solution to meet your financing needs.
Power Purchase Agreement
Paradise Energy Solutions LLC’s sister company Sunstream Energy LLC and a number of other partners can provide financing in the form of a Power Purchasing Agreement. This is a legal contract to purchase electricity between the owner of a system and the buyer of the electricity. This involves a third party such as Sunstream Energy LLC which purchases the system, leases the property from the host customer for the placement of the system, then sells the power to the host customer. This makes particularly good sense for a customer who cannot take advantage of the tax benefits of solar. This solution is often chosen by schools, churches, government entities and non-profit organizations looking to take advantage of the benefits of solar power. The solar system owner is also responsible for system maintenance and performance, so it is a hassle-free way to enjoy some of the advantages of solar. PPA’s can be more difficult to secure as a solution and are more geographic and system-size sensitive than other financing options. They are typically subject to varying degrees of regulation at the state and federal level and may not be available in all locations served by Paradise Energy Solutions LLC.