In 2016, the Willy Street Co-op partnered with Legacy to install 212 LED lamps and 90 solar panels at their east location. They provided the roof-top; Legacy provided the technical assistance and tax financing; Full Spectrum Solar installed the panels. This energy efficiency and renewable energy project has saved over 200,000 kilowatt-hours and over 120 metric tons of carbon emissions so far. And, this month the Willy Street Co-op purchased the array outright from the tax sponsor and bondholders. Not one LED lamp has needed replacing yet, and there are still 19 years of warranty on the solar panels. It has already been a good investment and proves to get even better as time goes on.
Watch for a case study on Legacy’s first project involving tax equity financing, coming full circle. As more projects are purchased by their hosts, we can really amplifying celebrate the benefits of tax equity financing.
Congratulations to Willy Street Co-op on taking full ownership of their solar array!