Powering schools, libraries, and municipal office buildings requires a lot of energy. For many local governments, energy expenditures are the second largest budget item.
By generating your own electricity from the sun, local municipalities and schools can greatly cut into their monthly operating costs. When this occurs, then these savings can be applied elsewhere within your budget!
Cost savings:solar is now significantly cheaper than buying power from the grid in Illinois
Job creation: by installing solar on one or more buildings, municipalities can help spur solar job creation in their local community
Commitment to sustainability: installing solar can help your municipality meet its sustainability goals by decreasing reliance on coal & fossil fueled power electricity (without having to add to the local budget or ask for tax increases)
Spur community action: by installing solar panels on your buildings, you can lead by signaling your commitment to the local community to help jump-start the local clean energy economy.
Reliability:solar panels not only provide you with the reliable energy needed to run your school or office, but the solar panels themselves are dependable & long-lasting
Although other energy options exist, such as wind or carbon credits, solar is the clear winner because of the ease of installation, long-lasting equipment, and lack of moving parts makes. Building a solar array sends a powerful message to constituents and voters that their municipality is actively investing in the future.
HOW T.E.L.P. CAN HELP MUNICIPALITIES FUND SOLAR PROJECTS
What Is T.E.L.P.?
A T.E.L.P. is a Tax Exempt Lease Purchase where the local governments are the lessor. Because the lessor does not pay federal tax on lease payments, it can offer lower financing rates to the government.
Some of the advantages of T.E.L.P. include:
Tax exempt rates: lower rates that are fixed for the term (up to 20 years)
Fast financing:can be completed in as little as two weeks from beginning to close of escrow
Allows for 100% financing: no upfront capital required in many situations
1st payment is typically due 12 months in areas:you can enjoy 12 months of solar savings before having to make a payment
Want to learn more about how a T.E.L.P. works? Contact us below to talk to an expert.
WANT TO FIND OUT HOW MUCH SAVINGS YOU QUALIFY FOR?