Norfolk Academy Solar PV Financing Structure

At Norfolk using the PPA model, parents grouped together and collectively raised $1 million to purchase and install the solar panels on the school, and then sold the solar energy back to the school until they recouped their money. Parents were repaid in full within six years (some areas will take a bit longer, depending on local laws and available tax benefits). After parents were repaid, they donated the panels to the school – for a win-win scenario. For a primer on PPAs and various ways to finance solar, and examples of relevant documents, visit http://solar.the-mcelroys.com/index.html.

 

Als0 learn about the Norfolk Academy experience with PPAs by visiting https://generation180.org/parents-lead-the-charge-to-donate-1-million-solar-array/.

Sample templates of the LLC and PPA agreements are available at http://solar.the-mcelroys.com/.

Download Norfolk Academy project description

Download Norfolk Academy project overview slides

Other Profiles of Green Schools

A listing of additional profiles is available at the U.S. Green Building Council's Center for Green Schools website.