Public entities are in a unique position to embrace a leadership role in support of clean energy. Buildings such as town halls, police and fire stations, and schools typically have unused roof space which can be leveraged to deploy solar energy solutions. Additionally, unused town land or capped landfills can also be good candidates for solar energy installations.
Municipals will benefit from solar energy in many ways:
Solar Financing Solutions for Municipalities
The most common way that a city or town can benefit from solar is by entering into a Power Purchase Agreement (PPA). Under a PPA, a third party owner will install a solar system at no cost to the city or town and provide an electric rate that is predictable and significantly lower than the rate the local utility offers. In return, the city/town will provide a viable roof(s) or land to “host’ the solar system. This solution works best since the city/town does not pay federal taxes and therefore cannot benefit from the current tax incentives. The town, however, still benefits from a reduced and predictable electric rate, which not only saves them money, but also makes budgeting this line item much easier. Alternatively, a city or town could access capital funds or apply for grants to purchase a solar system directly.
Interested municipalities can also benefit from Solect’s new partnership with energy consortium PowerOptions, the Small Systems Solar Program. This program brings on-site solar PPAs to small to mid-sized commercial nonprofit solar arrays up to 300kW, allowing eligeable institutions to enjoy substantial savings, and avoid lengthy RFP processes with no capital outlay.
Solect will work with you during the feasibility assessment to determine which financial solutions are most appropriate for your long-term success.