Faith centers and nonprofits across the United States are adopting solar energy after legislation from the federal government made the cost of such projects more accessible. As a result, these organizations have more money to spend on initiatives that benefit their communities.
What legislation is making this possible?
As more homeowners are capitalizing on tax incentives and rebates available to them through the Inflation Reduction Act, so too are faith centers like California's Watts-Willowbrook Church of Christ — also referred to as "The Brook."
As detailed by Canary Media, many houses of worship and nonprofit organizations can struggle with the upfront cost of installing solar systems, even though they offer significant savings over time. However, the IRA allocated tens of billions of dollars to support clean-energy upgrades, with individual households able to snag a 30% tax credit for solar panels.
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Now, "direct pay," also known as "elective pay," is helping faith centers and nonprofits access money from the IRA without the labor-intensive process that comes with for-profit groups. Michelle Moore, the CEO of the nonprofit Groundswell, told Canary Media the provision was a "game-changer."
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Meanwhile, businesses can take advantage of the Modified Accelerated Cost Recovery System, or MARCS. According to EnergySage, combining MARCS with the Investment Tax Credit enables companies to recover up to 50% of installation costs over five years.
Why is this important?
"Elective pay" is making it easier for previously left-behind organizations to begin reaping the money-saving benefits of solar projects, with RE-volv executive director Andreas Karelas telling Canary Media that they should now be "a top segment of the market for every installer."
For example, The Brook installed a 12-kilowatt rooftop solar system largely thanks to the IRA, and according to RE-volv, it projects it will save more than $184,000 on its electric bills over the next two decades, improving climate resilience and eliminating nearly 650,000 pounds of planet-warming carbon dioxide that would otherwise be released into the air.
Church secretary Linda Cleveland told Canary Media that the extra funds will support a community food ministry that feeds hundreds of people.
How can my organization get started?
EnergySage is one of the premier online tools that can help your business or organization discover which tax incentives are available to support the transition to solar. The online marketplace can connect you with trusted installers who can help you compare your options and obtain the best deal to begin saving on operation costs.
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