Solar Mosaic allows its customers to buy the installed solar panels within 20 years

Nov 12, 2011 09:38 GMT  ·  By

Most of the fans of renewables are already aware of the fact that solar finance company Solar Mosaic and Oakland’s Ella Baker Center for Human Rights worked in partnership to implement the benefits of renewable energy coming from the sun, while improving and greening the lives of people from the Oakland’s Asian Resource Center.

At that point in time, the center managed to obtain its first solar roof, displaying a 30-kilowatt solar installation which has the ability to create enough power for 35 average homes.

Apparently, after this announcement was made, several additional perks have come up. First of all, after the lease ends, the building owners would have the option to buy the solar installation. This would be an interesting alternative, available within 20 years.

The life expectancy of the entire project is estimated somewhere between 25 and 40 years. Furthermore, the budget allocated for community centers such as schools, churches, non-profits will save considerable amount of money while benefiting from federal incentives, obtained throughout the collaboration, which would be unable to obtain on their own.

Even more, building owners face significant lower costs, while reducing their facility's impact upon the environment. Solar Mosaic made possible the birth of amazing eco-friendly structures, like solar schools and community solar gardens, proving that community members can share the benefits of going green.

All in all, their successful initiative made the people from the company think about implementing the Community Solar Day on November 20th. Since education is the first step to find and develop useful innovations, the representatives plan to gather all the people who can't go solar and help them find effective solutions to their community's energetic challenges.

This seemed like a great idea to support the low-income families, while making the entire community join efforts to make this eco-conscious strategy part of reality, even from its early beginning.

The investors behind this generous project had the option to just donate the amount or recoup it in less than 10 years. The plan seems perfect. In order to experience the earth-friendly advantages, the company has to sign a 20-year lease with Solar Mosaic for use of the panels.

After establishing this partnership, it agrees to pay the company for the power from the panels, an action which implies significant savings, since apparently a utility company would charge much more for similar services.

Apparently, sharing is caring, when it comes to the future of powerful communities, keen to improve the life of its low-income inhabitants.