Star Cross Volunteer Fire Department (SCVFD) is a small outfit based in Williamstown, New Jersey. Because of their size and budget, they were finding it hard to go solar, and became frustrated after several attempts to finance a system fell through.
But at Braggawatt, our mission is to help small nonprofits take advantage of the benefits of solar. We connected with SCVFD, and took the time to understand their unique needs.
As a result, we funded 100% of the Star Cross solar project. SCVFD paid no upfront capital costs, and the station’s Power Purchase Agreement (PPA) not only allows them to take advantage of the solar tax credits typically denied to nonprofits, it will also help them hedge against rising electricity prices.
As a small, volunteer fire station, Star Cross wondered whether they could take advantage of federal solar tax credits. Most tax credits only apply to for-profit businesses. But Braggawatt had an answer.
Since SCVFD’s solar system is owned by a for-profit business, the owner received the applicable tax credit, and can pass the savings on to SCVFD through their PPA. In other words, because a for-profit owner is able to monetize the credits, they offer reduced electricity rates. Currently, SCVFD pays only $0.11/kWh instead of the usual $0.14/kWh utility rate. That’s 20% off the station’s electricity bill.
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