CollectiveSun is the only company in America that exclusively helps nonprofits and tax-exempt organizations fund solar projects nationwide. CollectiveSun was founded in 2011 on the principle all nonprofits and tax-exempt organizations should have access to solar power.
Sunbury Bible Church in Northumberland, Pennsylvania, is one of their projects. The church chose a local installer who gave them a bid of $360,000 for a 207kW system made up of 610 panels. The team of deacons overseeing the solar installation then researched available funding options for this project. Since the leadership team did not want to ask the congregation for more donations, they decided to work with CollectiveSun and fund their project with a Solar Power Agreement (SPA). Jim, the deacon heading up the solar project team, informed the congregation that Sunbury was hoping to lower their operating expenses by switching to solar energy. In addition to lowering energy costs, by switching to solar energy Sunbury would be fulttölling its mandate to care for the earth. The church would take out a loan that will be paid back over 10 years with a 3% interest rate. Sunbury will take possession of the system at no additional cost in just 6 years, and the SPA will enable the church to lock in a discounted energy rate less than what they were currently paying which protects them against any utility rate increases for 25+ years. Best of all, the church only needed to raise $306,805 of the original $360,000 because CollectiveSun was able to apply tax credits to reduce the cost by 15% (a $54,195 saving).
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Location: Sunbury Bible Church
Date: Jul 15, 2019 @ 09:34
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