Sustainable Capital Finance (SCF) recently financed a 158 kW solar array for St. Mark’s Catholic Church in San Carlos, California. St. Mark’s leveraged a no-money-down Power Purchase Agreement (PPA) with immediate savings while also benefiting from two solar car-ports shading over 50 parking spots in their lot. Over the length of the term, the church is expected to save over $3 million, offsetting over 80% of their previous utility consumption.
Churches and other non-profit institutions often look to solar as a way to reduce their operating expenses while aligning with their sustainability and community goals. Unable to utilize the Investment Tax Credit, a 30% tax credit for project costs, non-profits often rely on 3rd party ownership/financing to maximize the benefits of going solar.
One of the unique challenges posed by this project, was consolidating 3 smaller PV systems into one, thereby reducing the standard diligence costs. By merging the systems, SCF was able to make an otherwise cost-prohibitive project work for all parties involved.