Santa Clara University Uses Zero-Down Finance to Build Solar Rooftops
Monday, November 8th 2010 2:55 PM
By GetSolar Staff.
Santa Clara University just installed almost a megawatt of new solar capacity on several rooftops throughout its campus - and it's done so without putting a single cent of preliminary financing down.
Using a power purchase agreement with Pereptual Energy Systems, The Alliant Company's renewable energy development division, Santa Clara University will get much closer to its goal of getting 15 percent of its energy from renewable sources by next year.
"This partnership with Perpetual marks a major step forward in fulfilling our energy strategy goals for clean, reliable and cost effective energy," said Joe Sugg, assistant vice president for University Operations. "Moreover, it is a strong visual statement of the university's commitment to environmental justice."
Power purchase agreements are an important tool that allow individuals and institutions to get the advantages of solar without having to take on all the risks of a major capital investment. In return for installing the arrays and panels, solar developers get a guaranteed stream of income from the customer as well as the right to take advantage of various tax breaks and credits.
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Santa Clara University just installed almost a megawatt of new solar capacity on several rooftops throughout its campus - and it's done so without putting a single cent of preliminary financing down.
