AIRE encourages individuals and businesses within your community to be part of your solar project. Community-Owned or Community-Developed solar energy projects create distributed renewable energy generation and spur local economic development. The projects are owned and developed by local or regional community members. These projects require two types of participants to be successful: donors and funders.
Community members with the means to utilize the tax incentives offered for renewable energy development (with AIRE’s assistance) form a business entity to develop the solar system. These individuals fund the construction of the solar project and receive a return on their investment. It is important to emphasize that the tax incentives offered for solar energy development can pay for 80% – 103% of a solar energy system’s installed (“turnkey”) cost.
Community members who cannot/do not need the tax benefits, or those who simply want to charitably support the project, may participate as Project Donors. These supporters catalyze the project by contributing to a restricted grant fund used to purchase renewable energy credits, or RECs, that are produced by the solar system. These donations are tax deductible and provide a vital income stream that is required for the project’s success.