* LSC Member
Housing Initiatives is a Madison nonprofit organization that has been providing peace, hope, and shelter for Madison area men, women, and veterans for over 20 years.
Housing Initiatives own several buildings throughout Madison to give their clients a safe, warm place to call home. Residents use a lot of electricity because they are home often and at a variety of times. Energy for heating and lighting is a significant recurring expense.
In the summer of 2016, a supporter of Housing Initiatives (and of solar power) approached Legacy Solar Co-op to see if we could facilitate a solar project on some of their units.
Legacy Solar Co-op assessed the situation and were pleased to find buildings with a good solid roof with enough electrical load to support a solar array. We also looked at the electrical bills and saw an opportunity to save 40% per unit through solar. It was clear that this could make a big impact on their operational expenses!
Area solar contractor, Member Full Spectrum Solar, was chosen to provide the installation, and Legacy Solar Co-op helped provide technical assistance and financing options for Housing Initiatives to construct solar on 2 buildings that Housing Initiatives owns and maintains.
Our tax sponsor for this project is a long-time advocate for this and other organizations in Dane County.
Their participation lowers the cost of installing solar for Housing Initiatives by 40-50%. Legacy Solar Co-op also sold $37,000 worth of Slice-of-Sun (SOS) Solar Bonds to help raise more money for this program. SOS Bonds are available to members of the Co-op who are residents of the state of Wisconsin and pay between 4% and 6% internal rate of return on your support for our Co-op’s projects.
Together, we are helping Housing Initiatives achieve lower energy bills which they can direct to their primary mission of helping more people in need.
The project was finished in December of 2016.
Click on an image to open the gallery.
The more SOS Bonds are owned by Housing Initiatives, the more their energy bills will be locked in at below 5 cents per kilowatt-hour! That’s less than half what they are paying now for their electricity in 2017.
Plus, over 25 years, the impact of this project will be to displace nearly 1 million pounds of CO2 and save over 14 million gallons of water by reducing their need for coal and methane-based electricity!
Slice of Sun Solar Bonds
Legacy Solar Co-op sells Slice-of-Sun Solar Bonds to any member who would like to support a Solar Legacy project like this one, and earn between 4% and 6% interest on their bonds purchased through the co-op. Ready to get involved?