* LSC Member
A traditional, egalitarian synagogue in Madison, Wisconsin, Member Beth Israel Center is a vibrant and diverse community of 260 families — a caring, spiritual home that is alive with celebration, learning, prayer and a commitment to tikkun olam.
It is this commitment to tikkun olam that led the Beth Israel Center to look for the best way to maximize the solar potential on their roof and minimize their cost for this project.
Beth Israel was fitted with a solar capacity of 64.99 kW.
Legacy Solar Co-op helped fit that need by providing guidance on structuring a self-funded model of financing the project through an Energy Savings Measures agreement. A member of the congregation stepped forward to be the anchor sponsor for the project. We met several times with representatives and with the governing body of BIC, as well as with SunVest (of Pewaukee) to apply for incentives to help shave costs off of the project so that the amount to be financed was more viable for the stakeholders.
The project began in August of 2017 and finished in December of 2017. Specifically: contracts were signed in August; bond sales were sold by September; construction started in October and the project was commissioned by late December.
Slice of Sun Solar Bonds
These bond subscriptions help secure the solar project and can either be cashed in after 7 years, rolled-over into a Legacy term (25-years), or can be donated at any time as a tax-deductible donation to a participating non-profit host site for a solar project. For example, a local church is currently enjoying a portion of the energy savings (over $3,000 a year), but the more bonds the Church owns, the more energy savings they get to keep for their own parish’s budget. Everybody saves and earns and benefits from the good that is being done thanks to the solar project. You can buy Slice-of-Sun Solar Bonds that earn interest for as little as $250. Or you can sponsor as many full solar panels as you’d like for $500 each. Sponsorship can be direct donations to a participating non-profit or through the purchase of bonds that are then gifted to the non-profit of your choosing.
The two rules for purchasing a solar bond
You must be:
- A member of the Legacy Solar Cooperative, and
- A Wisconsin resident.
These are required to comply with State and Federal Statutes governing this type of business transaction. Becoming an equity member of the Legacy Solar Co-op means you are an owner of the Co-op, and qualify to buy bonds issued by the Co-op to serve the Co-op’s business interests. These interests lie in developing more and more solar projects to serve our members and share in the energy and environmental savings that come with solar and energy efficiency.
Ready to get started?
You will find more information and instructions. If you have any questions at all, please contact us.