PENNSYLVANIA — Capital Good Fund and the Pennsylvania Solar Center announced a partnership to develop nearly $40 million in solar projects across the state over the next four years, supporting about 70 installations for small businesses, nonprofits and municipalities.
The projects will be developed through the Pennsylvania Solar Center’s GET Solar program and financed through Pennsylvania BRIGHT, allowing participating organizations to install solar energy systems with no upfront costs, the groups said.
Officials said the program is expected to deploy approximately 19,400 kilowatts of solar capacity statewide.
Under the arrangement, Capital Good Fund will oversee construction and operation of the solar arrays through power purchase agreements, commonly known as PPAs.
A PPA allows a third-party investor to own and maintain the solar system while the host organization purchases the electricity it generates, typically at a lower rate than conventional utility power.
Project sizes are expected to range from about 20 kilowatts to 1,500 kilowatts.
PPAs are typically used for larger solar installations, often 500 kilowatts or greater, but the partnership groups multiple smaller projects together to make financing possible.
Participating organizations are expected to save about 25 percent on electricity costs annually over the next 25 years, according to the organizations.
Sharon Pillar, founder and executive director of the Pennsylvania Solar Center, said the nonprofit has spent several years building a pipeline of potential projects through its advisory program.
“Our nonprofit’s GET Solar program has been offering trusted, unbiased guidance to hundreds of entities for the past eight years by helping them decide whether solar is right for them, as well as connecting them to financing options and qualified solar developers,” Pillar said.
She said the partnership will allow many organizations that were previously too small to secure financing on their own to move forward with solar installations.
Capital Good Fund officials said the program also comes as energy costs continue to rise.
“Energy costs have risen by an estimated 50 percent over the past five years alone, placing enormous strain not only on Pennsylvania homeowners, but the small businesses and community organizations that serve them,” said Anika Wistar-Jones, executive vice president of America BRIGHT at Capital Good Fund.
The partnership received initial support from The Reinvestment Fund and The Kresge Foundation, which officials said will allow Capital Good Fund to secure equipment that will be used across multiple projects.
Elizabeth Friend, director of clean energy and sustainable finance at The Reinvestment Fund, said the initiative is intended to help community organizations redirect energy savings into local programs.
“Clean energy is fundamentally an investment in community strength,” Friend said.
Additional details about individual solar projects are expected to be released in the coming months, the organizations said.
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