Renewable Social Benefit Funds (RSB Funds) has unveiled a solar energy financing program exclusively for nonprofit and tax-exempt entities in the U.S. that will guarantee solar power at a 5% savings compared to the cost of traditional power. RSB Funds has partnered with Pacific Edison, Golden Power Partners and Martifer Solar USA for the implementation of this new program.
Under this national program, RSB Funds will make solar energy available through power purchase agreements (PPAs), where solar prices are indexed at a fixed 5% discount to the customer's prevailing utility rate for the life of the agreement, the company says. The PPA will require no money down, include operations and maintenance for all systems at no additional cost, and increase or decrease with electric rates.
SOURCE: Renewable Social Benefit Funds