For many religious communities and other non-profits in Hawaii, there is a real desire and commitment to promote renewable energy. For homeowners and private businesses, the tax credits available from at the federal (30%) and state (35%) levels means that the purchase price can be significantly discounted, resulting in a payback period of 5-7 years. However, non-profits like religious communities don't pay taxes and thus can't take advantage of these discounts. How can these communities afford to purchase and install a PV system?
Well, there are options available for the creative and motivated religious community. Local solar companies are now offering power purchase agreements to several local faith communities. This is essentially a lease agreement in which the company installs a PV system for no upfront cost to the community, and the community in turn agrees to purchase the power generated at a discounted rate compared to the local electric utility. The California IPL has created a financing guide for religious communities that describes the PPA plus other ways to purchase and install a PV system. There are case studies in the guide, so you can learn from their experiences.
As always, feel free to contact HIPL with questions or to share your own experience with exploring or installing a renewable energy system.
