Your Green Campaign combines multiple, powerful funding tools to best meet your needs and drive project costs to zero.
The menu of options includes:
Power Purchase Agreements (PPAs) are powerful tools to stabilize your organization’s overhead expenses. We recommend a PPA for all of our partners, and then we reduce costs even more by supplementing it with other finance tools. With a PPA, a third party owns and takes responsibility for the solar power system for 15-20 years, while you enjoy a locked-in, fixed energy rate and simply pay based on consumption. The biggest benefit to a PPA is that every month, you’ll know exactly what your energy rate will be, so your organization can grow with confidence. PPAs guarantee that your organization will pay less for solar power than traditional fossil fuel-derived electricity.
1603 Treasury Grants are highly coveted, potent financial tools that reduce the cost of installation by up to 30%. The 1603 Program has closed, but we secured several of the powerful grants and will apply the discount to organizations that have a positive impact on their communities. 1603 Grants provide payments for energy properties in lieu of tax credits and reimburse eligible applicants a portion of installation costs. In addition, 1603 Grants can function as a source of equity that may meet private equity requirements.
Solar loans are similar to PPAs, except whereas PPAs fix an electricity rate, solar leases fix a lease rate. We own the system, and you lease it and simply pay a predetermined, monthly rate.
Crowdfunding harnesses the power of many to guarantee your project’s success. Rather than relying on a single donor, multiple parties donate smaller amounts to causes they believe in. Crowdfunding campaigns are primarily internet-based, and you can choose between several exciting and innovative groups that broker campaigns, each with its own cultivated network of donors. We will help your organization establish a crowdfunding campaign that channels the enthusiasm of your organization’s backers as well as individuals who support renewable energy. We’ve done the research and built the relationships, so we can make sure that your crowdfunding campaign perfectly suits your project, resources, and needs.
Peer-to-Peer lending is closely related to crowdfunding, except that in crowdfunding, your backers are donors, and in peer-to-peer lending, your backers are investors. In both models, your supporters are contributing to the project because they care about your mission and your ecological goals. Peer-to-peer lenders, however, are also interested in smart investments—which is why solar power projects and peer-to-peer lending are a natural match.
Capital campaigns raise a specific amount of money over a set length of time and are ideal for innovative projects with higher upfront costs, such as solar power installations. Special events, sponsorship, direct mail, and other fundraising techniques combine to help you meet your goal. A capital campaign complements other fundraising efforts, and Community Renewable Energy will partner with you to ensure proper preparation and skillful execution. In addition, Community Renewable Energy constantly builds our network of experts in the development field, so we can refer you to other professionals and firms to assist your capital campaign.
Grants can also fund your project, but identifying the best matches is key. Because grants vary in amount, availability, and process depending on your location, organization, and installation timeline, it’s essential to manage requests wisely. Luckily, principals of Community Renewable Energy have decades of experience and an outstanding track record of securing grants for a wide range of organizations and projects. We can aid funding research, help you pinpoint the best grants for your needs and resources, and even provide technical assistance (for example, writing and editing) and professional referrals.
Solar Renewable Energy Certificates (SRECs) can dramatically shorten the length of time it takes to enjoy a return on investment. With SRECs, you can go from paying the utility company to having the utility company pay you! Recognizing the value of renewable energy, many states have established Renewable Portfolio Standards to encourage utility companies to offset their use of fossil fuel. Some utility companies develop their own renewable energy systems, while others purchase SRECs from solar energy producers. Standards vary by state, so we will help determine if SRECs are right for your project.
New Market Tax Credits (NMTCs) incentivize development in low-income and underserved areas and encourage private economic investment and job creation. The program attracts investors through a tax credit schedule and can reduce project costs by up to 20%. NMTCs work exceptionally well paired with 1603 Grants. At Community Renewable Energy, we understand the complexities of NMTCs and will help your organization capitalize on this important federal program.
Traditional loans are yet another way to finance your project. Principals of Community Renewable Energy possess over 40 years of experience in project financing, real estate, and business financing and have built relationships with banks across the nation. We help our partners succeed by attracting lenders, locking in fair interest rates, and securing smart loans.
Contact us today to learn more.