What is happening
Imagine solar energy powering your child’s school, your neighborhood cafe, or your local library. Right now, it can be difficult for these places to afford solar’s upfront costs. This is where third-party ownership can help.
Third-party ownership allows places to benefit from solar energy without an upfront cost. Wisconsin lawmakers are considering a bill, SB 702, that would allow for third party financing of solar here in Wisconsin. They need to hear from you. Tell them you want to see more solar in your community and that SB 702 will make that possible.
How does third-party financing work?
With third-party financing, a company owns a rooftop solar system on a building they do not own. The building owner agrees to buy the electricity the system generates. The cost of this electricity is less than what the building owner pays for electricity from their utility. This means the building owner sees savings from day one.
How does this make it easier to go solar?
One way to think about going solar is that it’s like paying for 25 years of electricity, all at once. That can be expensive. Many people, small businesses, and institutions that want to go solar can’t because they don’t have the money for the upfront cost.
Additionally, good sites for solar like schools and other government facilities do not pay taxes. This means they are unable to use tax credits that are available to solar owners. With third-party ownership, the system’s owner can take the tax credit.