Reputable nonprofit organizations are concerned with using their resources in the most responsible ways possible. This means that they are committed to minimizing their overhead costs. Because of that, the heads of these organizations are occasionally hesitant to invest in solar panels. While there is an initial sum of money required for the panels and installation, there are numerous benefits to non-profits solar installations to consider. Here are a few reasons to consider solar panels for your organization.
In order to provide power, electric companies are dependent on non-renewable resources such as coal, oil, and natural gas. As consumption continues to increase, the planet’s resources are being depleted. Solar energy is completely renewable, and the energy source itself, sunlight, is entirely free. Using clean energy helps to slow down climate change, which is in everyone’s best interests. As a nonprofit, you are no doubt aware that many donors are more willing to give money to socially conscious organizations than those who aren’t. While a decision to use solar panels could come across as a calculated publicity stunt if the motivation is fake, a genuine interest in environmental responsibility is typically an attractive element for donors to your nonprofit.
Excellent Return on Investment
The major expense for non-profits solar installations lies in the product purchase and the installation process itself. While this initial sum of money can be intimidating, remember that energy costs are rising all over the country. In California, for example, rates have risen by around seven percentage points annually for the past thirty years. After purchase and installation, solar panels are very low-maintenance while sunlight is always free, so you will not have to worry about rising rates or operating costs. Furthermore, solar panels have a fantastic return on investment (ROI) rate. You will make back your initial output of money typically within seven years and continue saving on your energy bill for years after.
Wider Spread of Financing Options
While other corporations and private home owners are typically forced to purchase their panels outright or use financing, non-profits have other options available to them. For instance, your organization will most likely be eligible for solar leases from any company that offers the service. This option offsets the upfront costs with monthly lease payments that are lower than your electric bill would be. Another choice that certain solar panel companies provide is a power purchase agreement (PPA). In a PPA, the solar company owns and operates a solar panel system at your nonprofit. In exchange, you agree to purchase electricity from this system at a rate that is usually ten to fifteen percent lower than electricity company rates.
If you are the head of a nonprofit organization, you may have assumed that switching to solar panels was simply outside of your reach financially. However, with the long term savings and alternative financing options you have at your disposal, this simply isn’t the case. Begin investigating the actual costs of non-profits solar installation in your area and you may be surprised by how achievable this goal is.