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Nonprofit Overview
New Jersey Non-Profit organizations looking to adopt solar energy have chosen a great time to do so. With financial incentives similar to no other time in the state’s history, Non-profits can go green for very little of it.
To give you an idea of the way many not-for-profit organizations have taken advantage of the great financial benefits, we present two basic methods for acquiring solar:
- A loan from the state:
More common with schools, the state sometimes covers 30-40% of the initial cost of installing solar energy. With the addition of proceeds from the sale of Solar Renewable Energy Credits (SRECs) and the money saved by not paying electricity bills, a system can pay for itself in about six years’ time.
- Engaging in a Power Purchase Agreement (PPA)
Through a PPA, a non-profit may take advantage of the tax incentives that for-profit companies use to recover the installation costs. Through a PPA, a third-party company will install a system at little-to-no cost to you. The same third party then charges you a rate (less than that of the electric company) for the energy you use from the system. Through PPAs, your organization will begin saving on its energy costs almost immediately.
For more information on the incentives available to you through ownership, please visit our incentives page on:
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