Power Purchase Agreement (PPA)
Buy Power from a Solar Array, not the Grid, with No Initial Cost.
A solar power purchase agreement, or solar PPA, allows schools, nonprofits and municipalities, who cannot take advantage of federal tax programs, to enjoy the same benefits of clean solar power afforded to businesses and homeowners – and ultimately own the system. Solar energy is a fantastic way to lock in reliable costs of electricity for decades while reducing your organization’s impact on the climate. ReVision Energy’s PPA clients include educational institution, like Dartmouth and the University of New England, and community organizations, like Keene Housing and the Nature Conservancy.
Solar Savings to Invest Back into your Community
In 2020, ReVision completed the third solar project for Keene Housing in New Hampshire, thanks to a solar Power Purchase Agreement (PPA). These solar panel projects contribute to Keene Housing’s long-term goal of relying 100% on renewable energy by 2035, and the greater goal of increasing access to solar in communities across New England.
“We are very excited to take this next step towards reaching our goal of being 100% renewable by 2035,” said Keene Housing executive director Josh Meehan. “Thanks to our partnership with ReVision we’re reducing our operating costs while significantly reducing our real estate portfolio’s carbon footprint.”
The PPA gives Keene Housing the ability to leverage the economic and environmental benefits of solar power with no upfront cost. Instead, the solar projects are funded by impact investors, granting these partners an opportunity to make community investments that express their commitment to environmental sustainability. The three arrays build through the PPA are expected to save Keene Housing almost $3 million in electricity costs over the lifetime of the systems.
Watch the video below to learn how solar PPAs can benefit municipalities, government entities, and community non-profits like Keene Housing.
An Innovative Low-Cost Solar Option for Nonprofits and Municipalities
Why Go Solar with a PPA?
Transitioning to solar is a powerful statement to your community that renewable energy from the sun is a viable solution for New England. Rather than purchasing carbon credits or other forms of offsetting fossil fuel impact, a solar investment is incredibly tangible and a recurring statement of your organization’s commitment to a clean energy future.
A solar PPA is an innovative financial structure that eliminates the #1 barrier to a nonprofit going solar – access to upfront capital. Instead of requiring a capital investment, ReVision Energy pairs tax-exempt organizations with local mission-motivated solar impact investors, who can take advantage of federal tax incentives not available to cities and towns. The investor purchases and builds a solar array at the host organization’s location, and sells the solar power back to the host at below-market rates.
Benefits of a solar PPA project by ReVision Energy:
- No upfront cost
- Path to ownership
- Lowest long-term price of power vs. any other source
- Avoid rate hikes from utility company
- Carbon pollution reduction
- Dedicated service from the region’s premier local installer
Financing, Ownership, & Support
With no upfront costs, solar PPAs or low-interest loans ensure competitive electricity rates for the host, and a cashflow positive investment with savings greater than the PPA cost/loan payment from day 1. The exact pricing of the offer will vary based on market, size of array, and other technical variables. Although ReVision Energy PPAs come with a standard 25-year term and can be extended 10 additional years, all PPAs include a flexible discounted early buyout option after 5 years. Long-term ownership ensures the lowest long-term levelized cost of electricity from any source.
A solar PPA is a big deal for any organization transitioning towards a clean energy future! We are here to support our municipal and nonprofit clients through the entire duration of the PPA. As part of a PPA roll-out our robust marketing team can develop materials and assets such as lobby kiosks, online real-time performance monitors, posters, or flyers. We also collaborate with PPA hosts for solar tours, open houses, and other events, which can be virtual to adhere to COVID-19 policies.
Are You Right for a Solar PPA?
Ideal customers for solar PPAs include:
- Towns, municipal entities, schools or non-profits located in Maine, New Hampshire, and Massachusetts
- Any size entity, from small Montessori school to large nonprofit institution
- Organizations that own their location and have viable solar sites either as rooftop solar or ground-mounted arrays (we help determine the best sites)
The Road to an Installed Solar PPA
The first step in exploring a PPA is to contact ReVision Energy and start a process of site evaluation. Usually we start with a general conversation that goes in more detail about what a PPA is and how it works, and request energy data usage at your site. Once we receive this information, our engineers will evaluate your site for solar opportunities, and then our finance team will develop the potential solar sites into an offer that can be presented to your organization.
Why Choose ReVision Energy?
We are a full service design, engineering, and installation company with an unmatched depth of experience in Northern New England. Since launching our PPA program over a decade ago, our in-house engineering, development, and installation teams have successfully financed and installed dozens of solar PPA projects for tax-exempt institutions in New England.
Expert Design and Installation
ReVision Energy’s Design & Engineering team has completed designs for over 5,000 commercial, industrial, and institutional (CI&I) solar projects since 2003. With streamlined installation, we eliminate the confusion and difficulty of working with multiple subcontractors.
Our teams of licensed electricians and apprentices have installed hundreds of CI&I systems as part of our growing portfolio of nearly 10,000 commercial and residential clean energy systems. Our technicians hold the NABCEP certification, the industry’s highest level of training and accreditation. Our project supervisors hold master electrician and master plumber licenses to ensure that every completed system is code-compliant and qualifies for government financial incentives.
Quality Products, Quality Service
ReVision’s in-house Operations and Maintenance (O&M) service division actively monitors and serves our commercial solar systems throughout northern New England, including the dozens of large-scale municipal projects we have installed and numerous systems owned by third-party investors. Our standard O&M process is to monitor system performance every month and quickly mobilize service personnel to address any issues. Our dedicated service team works are ready around the clock to meet the customer’s needs.