Solar Loan Fund
GIPL offers zero-interest loans to fund solar projects for congregations. One of the biggest hurdles in installing photovoltaic or solar hot water systems is funding. In order to assist congregations in going solar, we are offering a revolving loan fund that can make interest-free loans to congregations for the installation of photovoltaic systems for electricity and solar water heating systems (as long as they are replacing electric water heaters). The payback period is 10 years. Loans are available for up to $15,000.
Note that in most cases, $15,000 will not cover the cost of the entire system, so GIPL encourages congregations to explore other sources of financing as well. Such options may include something as straightforward as matching donations from members, or congregations may wish to explore options that will allow them to take advantage of existing federal and state incentives. GIPL is currently working with several other individuals and organizations to develop strategies for congregations to obtain complete financing for solar systems. As these are developed, we will post them here. In the meantime, you can get some ideas of what has worked in other states, by checking out California Interfaith Power & Light’s Solar Financing Guide. Please note, however, that the strategies they use may not be applicable in Georgia.
For more information about solar power, check out the Georgia Solar Energy Association.
There is also a map of every solar installation in Georgia, check it out.