General Information and Structure
Lender:
Inclusive Prosperity Capital
Lending Type:
Non-profit lender
Jurisdiction:
National
The Solar Power Purchase Agreement (PPA) allows building owners to experience the benefits of solar energy without the responsibility of owning or maintaining a solar PV system. Through the Solar PPA program, building owners can buy the energy they need with no monthly fee and benefit from significant savings on electricity costs. Under a Solar PPA, the electricity rate is immediately less than existing utility bills, so owners begin saving money on day one. Inclusive Prosperity Capital is the spin-out of the Connecticut Green Bank, bringing its successful programs to new markets. The solar system is installed, insured and maintained as part of the PPA contract for 20 years. Inclusive Prosperity Capital provides full warranty management on all equipment. Multifamily property owners have the option to purchase their installation after 5 years. When the agreement term ends, the owner can extend the PPA, purchase the system, or have it removed at no cost.
Active or Closed Program?:
Active
Years Offered:
2018 - Present
Eligibility Criteria:
5+ units, income eligible and market rate
Type of Financing:
Energy Services
Type of Improvements Covered:
Solar PV
