Now in its second round, the SunForAll Solar Fund has awarded funding to five additional nonprofit organizations for a combined $4,132,640 of solar projects in San Diego!
How we help nonprofits
SunForAll is a unique solar financing program for nonprofits created by CollectiveSun and lead investor BQuest Foundation. SunForAll makes going solar easy and affordable with an innovative financing structure consisting of a grant plus a Program Related Investment (PRI) in the form of a low-interest loan. SunForAll covers 100% of the up-front costs for the solar installations, with priority being given to nonprofits that work in underserved or marginalized communities. It was important to us that the nonprofit start saving money on their utility bills from day one, and the savings grow dramatically from there.
SunForAll has coined the term “solar endowment”– we create greater financial stability for nonprofits while also making an impact on climate sustainability. Each of these nonprofits will now be able to save on operating expenses that can be redirected towards their mission of serving our communities. They will also be able to help increase the use of renewable energy in San Diego and demonstrate its value, especially for the communities that stand to benefit the most from cleaner, more affordable energy.
Announcing the SunForAll Awardees…
We are excited to announce that the five awardees in the second round of the fund are:
1) San Diego Center for Children, providing evidence-based therapeutic, educational, foster care and transition age services to children and families struggling with mental, emotional and behavioral disorders.
2) San Ysidro Health, offering affordable and quality healthcare for families;
3) Barrio Logan College Institute, specializing in college and career preparation for underserved students;
4) Casa de Amparo, supporting those affected by and at risk of child abuse and neglect; and
5) Habitat for Humanity, facilitating opportunities for affordable homeownership.
All five of these organizations serve a vital role in our broader community and make a big difference in the lives of those they serve. During a year in which we have seen extreme weather events due to climate change against the backdrop of a massive economic and public health disaster, we need our nonprofits more than ever, and we need them to be sustainable for the long term – both financially and environmentally.
These solar installations combined will result in over $10 million in utility savings for the nonprofits over the 25-year projected lifetime of the systems. That is $10 million more that can be spent by these organizations on their missions benefitting our community.
These solar installations also represent a combined 1,294 kW of locally built rooftop solar. This mitigates more than 1,000 metric tons of CO2 emissions per year and is equivalent to taking 225 gas-powered cars off the road or protecting 1,350 acres of forest annually.
From our partner at CollectiveSun, Chief Community Officer Lee Barken: “Solar installations can be performed with COVID-friendly safety protocols, which supports local economic activity and creates local jobs. We are delighted to partner with BQuest Foundation and other impact investors to advance renewable energy and support nonprofits. The sun keeps shining even during troubling times.”
In the first SunForAll round that began in 2019 totaling $1,561,754, awardees included Vista Community Clinic, a provider of health services and education to underserved communities, and Casa Familiar, a service and community development organization. Both installations are now complete- after some COVID-related permitting delays- and will soon be generating electricity, saving money, and reducing carbon emissions!