SOLAR INSTALLATION PROGRAM
We will install solar at no cost on local businesses and non-profits in Qualified Opportunity Zones. The owner of the building would get the benefit of the free solar electricity after the system payoff period of 7 years.
Making A Difference
Check out our Impact page to keep track of
the progress and change we are making.
Amazing partnerships with Mothers Out Front and the Sierra Club have allowed us to do direct community engagement and education. These help us increase awareness about the importance of energy efficiency at home, and reducing our carbon footprint.
Through partnership with our local solar installers, we are pleased to announce an apprenticeship program available on every solar installation involved with the Norfolk Solar Fund. If you or anyone you know is interested in applying for on-the-job solar training, please visit our Contact Us page and apply.
Why Are We Investing Where we are?
A qualified opportunity zone is defined by the IRS as an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Investing in solar installations within these zones offers a tax benefit to the Benefactor of the fund, an opportunity for businesses and non-profits to lower their energy costs, reduce their carbon footprint and receive free solar installation. A win-win for everyone. See if you are within the qualified opportunity zone- a map of qualified opportunity zones in Virginia is available here.
In addition to the tax credit, the system will be paid off by the business paying the Fund for the electricity generated by the solar panels for the first 7 years. The business will have exactly the same utility bill as before — it’s just that after the installation, some will go to the Fund and the rest will go to the utility. After those 7 years, the business will own their solar free and clear, never having spent an extra dime on it, and will have the benefit of free solar electricity for decades into the future.
When this Fund started, the hope was to be able to install FREE solar on the residences within the qualified opportunity zones. Unfortunately, current Virginia law restricts us to businesses and non-profits - but we are happy to present this opportunity to local businesses and non-profits. Perhaps in the future this can be extended to homes as well. Solar energy can give these residents more stability by lowering their energy costs, and a healthier future by reducing the emissions they may be exposed to. According to the National Institute of Health, most North American studies have shown that areas with low socioeconomic status experience significantly higher concentrations of air pollutants.
Interested in applying
Just click the link below to apply for
FREE solar energy installation.