Congregant Lending
Solar Faithful is looking for individual lenders to support low-income faith-based organizations in implementing solar. As a lender, you would be supporting under-resourced communities, enabling them to save money on their electric bills and reinvest those funds into their organization, and contributing to a just, clean-energy transition while receiving a return on your investment.
Faith-based organizations often fund capital projects by borrowing from their congregants and repaying them when the organization receives donations. Similarly, Solar Faithful would like to fund solar projects for faith-based organizations and repay lenders with the revenues from the power produced by solar. An individual is not required to be a congregant of the organization they’d like to support in getting solar.
How it works:
- An individual lends money to Solar Faithful
- Solar Faithful contributes equity to build a solar project
- Solar is installed, and the organization saves at least 10% on its electric bills
- Solar Faithful pays back the lender over 10 years at a 4.5% interest rate
Learn more about Congregant Lending here
Solar Faithful empowers low-income community congregations to take part in the clean energy transition, lowering their electric bills while honoring their Earth Care commitments.