When considering a solar project for your school building or college campus, you have a few different financing options when partnering with a solar developer including no money/zero investment opportunities. Many schools choose to purchase their solar array with 100%, no money down clean energy financing. Others choose to enter into a power purchase agreement (PPA) with their solar partner to buy the solar energy produced on their facility at a discounted, fixed rate. And in some cases, they choose to simply lease their roof to the solar partner and generate revenue in the form of rent. In the cases of a PPA or roof lease, the solar developer/partner owns, operates and maintains the solar system and the school shares in all the benefits of the project.
Of course, you can also purchase your solar array outright, but many education institutions do not choose this financing option because most organizations who own their solar arrays purchase it with the help of federal and state government solar panel programs and tax incentives. Most schools, colleges, and universities are non-profit institutions that cannot use or take advantage of solar tax credits and other incentive programs. Luckily, Verogy can help you navigate these different financing options and choose the right one for your school, campus, or entire school district.