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Recoverable Grant Opportunity - Expanding Nonprofit’s Access to Solar
Recoverable Grants allow nonprofits to receive funding in the form of a loan from private investors, Donor Advised Funds (DAFs), and foundations, where the nonprofit uses these funds to further their mission. After the loan period is complete, the nonprofit pays the private investor, the DAF gift, or the Foundation back, plus a small interest fee, in which the Foundation or DAF can then reinvest that capital into other nonprofits, thus doubling their giving impact. Recoverable grants typically have smaller interest rates, allowing the nonprofit recipients the ability to have more funds available to further their mission.
Recoverable Grants nonprofits quickly grow programs, including providing funds for a new food bank, or to expand the nonprofit's goals, such as funding research for a new vaccine. RE-volv is launching its first Recoverable Grant to expand solar to nonprofits throughout the country. It's a revolutionary idea that has been backed by RE-volv’s 10 years of proven success.
RE-volv’s Recoverable Grant Opportunity
RE-volv works to provide solar energy access to those that are excluded from the benefits of the clean energy economy. RE-volv is currently raising $10 million through Recoverable Grants from impact investors to scale our proven model of solar finance for community-serving nonprofit organizations across the United States.
About RE-volv: Helping Nonprofits Go Solar
RE-volv a national nonprofit organization whose mission is to tackle climate change at the local level by empowering people to accelerate the adoption of clean energy in their community. At RE-volv, we believe that everyone can participate in helping to build the clean energy economy and everyone can share in its benefits. We provide solar energy financing to nonprofits serving disadvantaged communities across the country, while raising awareness about the benefits of solar, and training the next generation of clean energy leaders through our Solar Ambassador program.
We’ve solarized nonprofits who work in impact areas including youth, community development, arts and culture, low-income housing, and much more, helping these nonprofits save money on their energy costs by going solar and investing that money back into their mission.
Since 2013, RE-volv has been solarizing nonprofits in low-to-moderate-income communities, BIPOC communities, and in parts of the country where solar is less common, less economical, and where through community engagement, we hope to build momentum for stronger clean energy policy. There are roughly 1.5 million nonprofits in the United States that face major barriers to getting their solar projects financed, and RE-volv removes those financial barriers to help nonprofits go solar.
With our innovative solar financing model, our nonprofit partners immediately save on their electricity costs while their solar Lease or Power Purchase Agreement payments contribute to a revolving fund we call the Solar Seed Fund - a first-of-its-kind pay-it-forward model for solar energy.
RE-volv began as a crowdfunding platform that raised small donations to pay for the up-front costs of each nonprofit's solar project. From Q4 of 2019 through Q4 of 2020 RE-volv was able to scale its impact dramatically through an investment partnership that provided working project capital. During this time RE-volv contracted nearly 3 Megawatts of solar capacity for deserving nonprofits amounting to nearly $8 Million of project capital. It's clear that the demand for our service is vast and that the time to scale our impact is now.
Introduction to Recoverable Grants
Recoverable Grants are an innovative financial vehicle that allows RE-volv to receive a grant from foundations and Donor Advised Funds, use the funds to build solar projects for deserving nonprofits, and pay back the endowment with interest over time. Grantors can then continue to regrant those funds to organizations of their choice.
About RE-volv’s Recoverable Grant Opportunity
RE-volv is currently seeking to raise $10 Million through two recoverable grant investment offerings. We have two recoverable grant options available that will contribute to our Solar Seed Fund, including:
1. 9-year term with 1% annual interest rate ($3M recoverable grant opportunity)
2. 15-year term with 1.75% annual interest rate ($7M recoverable grant opportunity)
Investments in the Solar Seed Fund today will accelerate the just transition to a clean energy economy that provides real economic value to those that need it most. Investors will receive bi-annual reports showcasing how their investments are creating impact in communities at the front lines of the fight for climate solutions.
We are currently seeking 10 million dollars in Recoverable Grants from impact investors to scale our proven model of bringing solar to community-serving nonprofits throughout the country. If you are interested in learning more about our Recoverable Grant opportunities, please sign up to receive more information here. With your help, we look forward to bringing solar to more community-serving nonprofits throughout the country, to help spread the adoption of clean energy while helping nonprofits put their savings from going solar back into their mission. Join us and help create a just transition to clean energy for nonprofits throughout the country.
We believe that everyone should have the ability to support and spread clean energy. So we created a new way for people to take action. It's a pretty simple idea. Through an innovative solar financing model, these nonprofits immediately save on their electricity costs. As these organizations pay us back, we reinvest the money into more solar projects in communities across the country. This creates a revolving fund for solar energy that continually perpetuates itself building more and more solar. It's a pay-it-forward model for solar energy. We call it the Solar Seed Fund. Spread clean energy and make a tax-deductible donation to the Solar Seed Fund.