Many organizations do not qualify for the renewable energy tax credits since they are nonprofit. That seems unfair since there is little incentive to get these types of organizations to utilize renewable energy. This bothered me and so I did some research and here is what I found that nonprofit organizations, such as churches, HOA’s and other organizations can do to gather the funds to utilize solar energy without killing their bottom line.
There are still grants that are available and nonprofits can qualify for these. Grants can be difficult to find, but with a little research, you may be able to find one that fits your needs best. Some great information can be found on the Energy.gov,FedCenter.gov and EPA.gov website about funding and financing of renewable energy project. Also talking to your local community representative may help find what local incentives are available for renewable energy projects. If there is nothing currently available, you can work on possibly sparking an interest and getting them to consider it in the near future.
Fundraising is a great way to get your community involved in your renewable energy efforts. You can hold something as simple as a spaghetti dinner or bake sale that can end up generating quite a bit of funds. You can also dedicate a plaque to larger donors of the project. As long as you make your community feel involved in the process, they will be happy to step forward and take a sense of pride in the project.
Crowdfunding is becoming hugely popular as a way to run get funds for a project by giving different level of incentives to help gain more traction. I’m sure by now you have heard of the Potato Salad at Kickstarter to more relevant Solar Roadways at Indigogo that gained some huge traction. Once you create your campaign, sharing it with your community is the first step, but having them share it out can allow those who would like to help your cause, but may not be located nearby, become a part of your project.
Some organizations have gone through a leasing agency who can take care of the tax credits and grants search and claiming paperwork and your organization can still benefit. Instead of paying full price, there are leasing organizations that will take an additional discount off your system and then lease it back to you over the course of a number of years. You get a lower price and can slowly pay off your system instead of needing the total amount in one lump sum.
These are just a few options to those nonprofit organizations that still want to utilize renewable energy sources and complete projects to help make their organization a little greener to gain the funds for their projects. What other options have you heard of? We’d love to be able to add more to our list and help all organizations be able to put their green foot forward.