Second solar company offers project to schools
Unfortunately, the school system is unable to reap the tax benefits available.
“We’ve come up with a system for someone who can capture those benefit to purchase the system and put it on your roof,” Velker told the board. “You can get into solar with someone else buying the equipment and no money out of your pocket.”
Velker proposes a 49.92 kilowatt system at 14 school sites with a 20-year agreement. Funding for purchasing the equipment and installing it would come from a third partner, TerraShares, a company that offers project planning, analyses and innovative funding approaches to attract third-party financing for projects such as this. The company worked with Hawkins County school system to install 11 solar power sites on school property.
John Adkins, with TerraShares, said, “Eighty percent of new commercial installations are funded by third parties. Why? Nobody has the money. This provides an opportunity to bring in people interested in taking on the risk in exchange for earnings.”