Non-Profit Solar Alliance

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Non-Profit Solar Alliance
A Proof of Concept Pilot Project for
Community-Based Solar
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Overview

• Non-Profit Solar Alliance (NPSA) is a small,
  proof of concept pilot project involving the
  aggregation of several community-based solar
  installations in Northern California under a
  single ownership LLC utilizing Section 48 ITCs
• Sites include a homeless shelter, a community
  theatre, and three affordable condominium
  projects
• Sponsor is Northern California Land Trust, a
  developer of rental, cooperative, and condominium
  projects that provide permanently affordable
  housing for low-income people

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Desired Outcomes

• Off-Takers
• Affordable Energy
• More Predictable Energy Costs
• Long-term, ownership of panels
• Northern California Land Trust
• Proving Concept
• Providing affordable solar to their developments
• Enterprise Community Investment Inc.
• Environmental commitment
• Innovating structure for pilot

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Sources of Funds

• ITC equity 250,000
• Rebates 232,000
• Loan from NCLT 327,000
• Total 809,000

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Structure of Transaction
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Issues/Challenges

• Scale
• Standardization of Documents
• Investment Grade?
• Economics Going rates for grid electricity vs.
  rebate/subsidy structure
• Tax-Exempt Sponsor
• Structuring of Sponsor/Off-Taker Loan
• Property Insurance
• Consumer Law in Installation involving Condo
  Buyers
• Disposition

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For More Information

• shoekman_at_enterprisecommunity.com
• www.enterprisecommunity.com
• www.greencommunitiesonline.org