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Herb Stevens Jeff Lesk Genevieve Hulick

Herb Stevens Jeff Lesk Genevieve Hulick

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Herb Stevens Jeff Lesk Genevieve Hulick

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  1. Herb Stevens Jeff Lesk Genevieve Hulick

  2. Understanding Community Solar Financing Community Solar Transferring the Benefits to Low-Income Residents

  3. 16 states and D.C. have enacted Community Solar Laws

  4. Community Solar - Shared Solar • Community solar programs allow multiple energy customers to subscribe to shared solar project.

  5. How Community Solar Works 1. Solar Panels Sunlight falls on solar panels. The solar panels convert the sun’s energy into direct current (DC) electricity which is sent to an inverter. 2. Inverter The inverter converts direct current (DC) electricity into alternating current (AC) so it can be used in our homes and businesses. 3. Meter The meter measures the amount of electricity produced by the solar panels before the electricity is fed into the utility grid. 4. Utility Company The utility company keeps track of how much electricity (how many kilowatt-hours) is fed into the grid generated by the solar panels. 5. Utility Bill The utility does not deliver the actual electricity from the grid to individual customers. Instead it calculates the value of this electricity and provides a cash credit on the specified customer’s monthly electric bill. The customer may live nearby or across the city.

  6. Community Solar Project

  7. Understanding Community Solar Financing Community Solar Transferring the Benefits to Low-Income Residents

  8. World Changing Ideas “The biggest thing stopping the sun is money.” Image from: http://www.scientificamerican.com/sciammag/?contents=2009-12

  9. Three parts to financing community solar Tax equity: energy tax credits (federal subsidy) Debt: SRECS (state subsidy) and loan Nonprofit equity contributions

  10. Tax Credits and SRECs

  11. Community Solar Finance Structure DC Residents New Partners Community Solar Corp. Funds loaned to Project Company to install solar panels Tax Equity Investor Nonprofit manager PEPCO Bank Pepco allocates billing credits to low-income residents in DC Project Company Owns panels Company sells SRECs to pay expenses and debt service on loan Project Company sends energy from solar panels to the grid SREC Purchaser Facility qualifies as Community Renewable Energy Facility under Community Solar Law Building Owner License for roof space

  12. Understanding Community Solar Financing Community Solar Transferring the Benefits to Low-Income Residents

  13. The world is flat – or at least DC is

  14. DC government Solar program

  15. Nixon Peabody’s New Office 799 9th Street NW

  16. Installation

  17. Installation on vertical wall

  18. BEFORE, and ………

  19. ……AFTER

  20.      Energy here                          Used there  Utility gives residents a credit each month on their electric bills Office building delivers electricity to utility PEPCO

  21. Impact and Energy Produced

  22. Second Phase – 1 MW of Community Solar

  23. Questions, Ideas, or additional Information? New Partners Community Solar Herb Stevens herb@npsolar.org Jeff Lesk jeff@npsolar.org Genevieve Hulick genevieve@npsolar.org To ensure compliance with IRS requirements, we inform you that any tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.