Solar Impact Partners
ReVision is excited to announce the next level of our work developing Solar Power Purchase Agreements (PPAs) for nonprofits, municipalities, and schools – ReVision Solar Impact Partners (RSIP).
What is a Solar PPA?
Solar PPAs are a structure whereby a host agrees to purchase the electricity generated by a solar array (not the actual solar array itself) financed and built by an investor. The investor takes tax credits and other incentives available for the solar equipment, and sells the power generated by the solar equipment to the host, generally for a rate competitive with or even better than the local utility.
Solar PPAs fund all kinds of solar projects, including commercial and utility projects, but they are especially great for nonprofits because they allow nonprofits to go solar. Nonprofits are not eligible for federal tax incentives for solar, so by going with a PPA instead, they can receive the energy independence and environmental benefits of solar.
What is RSIP and why is it exciting?
ReVision was the first company to bring the PPA model to Maine in 2010, and in the period 2010-2017 we developed over 100 nonprofit and municipal solar projects using a PPA structure. Many of these Solar PPAs had ReVision acting as the investor and construction company (in others we built the projects and financing was handled by third parties).
RSIP is the next evolution of this work. With RSIP, impact investors are the project investors.
It works like this:
- RSIP identifies impact investors who want to put their money to work building solar and creates a Solar Impact Fund.
- RSIP identifies nonprofits with viable locations for solar.
- RSIP develops offers to nonprofits with funds from Solar Impact Fund.
- Nonprofit accepts deal, ReVision Energy builds the solar project, once turned on, nonprofit starts getting the benefit.
- Investors earn a modest rate of return through payments made for solar generation, tax incentives, and other project benefits.
It’s a quadruple win — solar workers get a steady pipeline of work, the nonprofits get a reduced electric bill, the environment benefits from clean electricity, and the investors are able to enjoy a modest reward for using their capital to accelerate the clean energy economy.
Inaugural Round of Funding Raises $1MM
RSIP recently closed its inaugural $1 million fund to build solar for a group of schools, non profits and municipalities stretching from Kittery to Bucksport, Maine.
A recent Solar PPA beneficiary, Brunswick, Maine-based Midcoast Hunger Prevention Program, had this to say about our ability to work with them to build a solar array for 0-upfront cost:
“We have been thrilled by the results from our solar project with ReVision. It has lowered our energy costs and increased the morale of our team,” said Ethan Minton (Director of Development at Midcoast Hunger Prevention Program at the time of the installation).
ReVision Energy would love to discuss these exciting projects and to share applicable investment opportunity information (such as a Private Placement Memorandum for accredited investors) with you. Fill out the form below to get started:
This web page has been prepared for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in any company. Any such offer or solicitation will be made only by means of a confidential Private Placement Memorandum or similar document and in accordance with the terms of all applicable securities and other laws. None of the information or analyses presented are intended to form the basis for any investment decision.