Around the country, solar energy is helping schools and colleges save money on their electric bills.
The cost to install solar has dropped more than 70% in the last ten years. And in 2017, North Carolina started allowing leasing, which eliminates the upfront cost to install solar panels.
So, why haven’t more schools and colleges in the state gone solar?
Leasing Is Appealing — But Only if You Pay Taxes
Leasing can be a good option for businesses that can take advantage of tax-based incentives to buy or lease solar panels.
But without the main tax-based incentive, the Solar Investment Tax Credit, it can cost up to 50% more to go solar, whether through purchase or a lease. That’s why so few non-taxable customers — including schools and colleges — have installed solar power systems in North Carolina so far.
There is a way for non-taxable customers to enjoy some of the savings from tax credits. In more than half of US states, solar companies are allowed to install solar panels on the campuses of schools and colleges at no upfront capital cost through a Power Purchase Agreement (PPA). Using this revolutionary tool, the solar company owns and operates the equipment and sells the energy to the customer.
Unfortunately, PPAs are not allowed in North Carolina. Because utility companies are regulated monopolies, other companies are not allowed to sell energy in the state.
Fortunately, another option for non-taxable schools and colleges to get solar more affordably has just come to North Carolina.
How Public Schools and Non-Profit Colleges Can Finally Afford Solar
Secure Futures is introducing an alternative that will give schools and colleges in North Carolina the opportunity to get solar panels on site at no upfront capital cost.
Enter Secure Futures’ innovative Self Generation Agreement™.
This service agreement provides a way for tax-exempt entities such as public and private K-12 schools and non-profit colleges to access the benefits of federal incentives with no upfront capital expense.
Secure Futures is currently the only company approved by the North Carolina Utilities Commission to provide this type of agreement.
With the SGA™, we install solar on your site and take care of all of the maintenance. You have no capital expense and you start saving money on energy right away.
Contact us for more information and to see if your school or college will qualify for solar panels right on campus with no upfront capital expense, and with money savings every month.