Accelerated Solar Action Partnership
ASAP flagship solar installations at Butterfield Elementary (left) and Highland Middle School (right) in Libertyville, IL. Both feature a 450 kWh capacity, which saves the schools $50,000 per year in electricity costs.
Investments in solar and wind power offer increasingly attractive returns as production costs decrease, demand increases, and grid development facilitates storage and delivery. In addition, renewable energy investments generate significant tax benefits, valuable renewable energy credits, and attractive utility rebates.
Unfortunately, schools, churches and other not-for-profit organizations (“NFPs”) are unable, given their tax exempt status, to take direct advantage of the tax incentives. However, through the structure of our program, NFPs will be able to address this constraint by partnering with local businesses.
The Accelerated Solar Action Partnership (ASAP) will align corporate sponsors with NFPs in order to efficiently develop renewable energy projects on NFP properties. This partnership will allow full utilization of the tax benefits by corporate sponsors while reducing the cost of solar to the NFP. The corporate sponsor will own the solar facility, and the NFP will purchase the electricity generated by the solar facility through a Power Purchase Agreement. After 7-10 years and a return on their investment, the corporate sponsor will donate the solar installation to the NFP.
At two ASAP flagship solar installations at public schools in Libertyville, Illinois, cost savings have been plentiful: peak electricity demand in the summer is alleviated by simultaneous peak solar energy production, while solar panels shade the roof and reduce air conditioning consumption.