BQuest is partnering with Collective Sun to create the SunForAll solar fund for installing discounted rooftop solar on San Diego-area nonprofits.
Because of their tax status, nonprofits are not able to take advantage of tax breaks offered to for-profit organizations for installing solar panels on their buildings. Through a creative financing approach that helps the non-profit take advantage of solar tax incentives, and then using a combination of a grant and a low-interest loan, nonprofits can benefit from current and future electricity cost savings. Most importantly, those savings can then be used to support their programs and services, reducing dependence on fundraising. And, of course, participate in reducing fossil fuel consumption!
Our pilot project is set to beginning installation in June 2020 and is projected to save the nonprofit beneficiary $2.5M in energy costs over the lifetime of the system! Applications from nonprofits are being accepted and Round 1 funding awarded in Summer 2020.