The National Development Council (NDC) says it is providing groundbreaking support for an innovative solar installation project at the Gasser Foundation's headquarters in Napa Valley, Calif. The development of the newest tax-credit structure is an initiative that NDC plans to expand to fund solar projects at nonprofit organizations across the country.
According to NDC, green energy projects are normally difficult for nonprofit organizations to develop, because they are ineligible for federal tax incentives. However, NDC joined the Gasser Foundation to help secure alternative sources of funding for the project, which was designed to maximize the economic benefit to the community.
NDC devised a financing model to secure approximately $1.5 million for the project with the installers – Borrego Solar Systems Inc. and US Bank. The renovated Gasser building features solar panels installed by Borrego Solar on both its rooftop and carports. The installation will supply nearly 100% of the building's energy.
SOURCE: National Development Council