SolarWorld partners with RSB Funds to jumpstart solar power projects for educational institutions

CAMARILLO, USA: SolarWorld Americas, the sales and marketing arm of the largest and most experienced US solar electric panel manufacturer, announced a strategic alliance with Renewable Social Benefit Funds (RSB Funds) to offer no-money-down financial arrangements to educational institutions so that they can immediately tap plentiful and clean energy from the sun and accrue financial savings to stretch their budgets.

SolarWorld and RSB Funds – a renewable energy company that serves only not-for-profit, tax-exempt schools and other organizations – have agreed to jointly market solar projects featuring SolarWorld solar systems, RSB Funds financial mechanisms and SolarWorld’s authorized installer network. Participating educational institutions will be able to buy electricity generated by solar systems on their property at rates lower than they currently pay to utilities, re-investing the savings into their school programs.

SolarWorld Financial Solutions, in concert with RSB Funds, will offer operating leases and power purchase agreements (PPAs) to help schools manage initial system costs while extracting immediate and ongoing savings on their electrical bills. Under the PPAs, RSB Funds will cover the upfront costs of solar power projects for participating schools; in turn, the schools will draw power from the systems at discounted rates.

“SolarWorld is committed to providing affordable solar power technology solutions to all of America,” says Kevin Kilkelly, president of SolarWorld Americas. “With this partnership, we are focused on the educational market, because we know that solar energy, coupled with the financing solutions that this partnership provides, will enable these centers of community life to lead by example. Along the way, they can use their savings to hire more teachers, enrich educational experiences or expand student activities.”

“Renewable Social Benefit Funds has long recognized the importance of bringing clean renewable energy to the not-for-profit sector because of the potential cost-savings we can offer them, which they can reinvest into their core programs,” said Jonathan Jaffrey, CEO of RSB Funds. “This strategic partnership with SolarWorld couldn’t come at a better time for us, for the sector and, frankly, for our country.”