RICHMOND, Va., Aug. 20, 2018 /PRNewswire/ -- Fellowship Energy LLC, a new clean energy finance company developing solutions for religious organizations and parochial schools, has completed its first solar installation for a faith-based community in Richmond, Virginia, as part of the U.S. Department of Energy (DOE) SunShot Program.
The project provides St. Stephen's Episcopal Church, one of the largest Episcopal churches in the United States, with a 50 kilowatt (kW) rooftop photovoltaic (PV) system that produces an estimated 65 megawatt hours (MWh) annually of clean energy – enough to supply 14 percent of the church's electrical load. Fellowship Energy's finance solution allows St. Stephen's to go solar with no upfront cost, realize an immediate reduction in utility bills and improve cash flow while actively participating in the creation of a more sustainable future.
"Funds that are freed up from often sizeable utility bills can go to serve the community and causes that these organizations support," notes Philip Kwait, founder and CEO of Fellowship Energy. "Making these dollars available for community service is the real benefit of Fellowship Energy's efforts. These are the real customers we seek to serve."
Virginia-based solar developer Performance Solar provided design and installation services for the project. Other local firms involved include Excel Electric as master electrician, responsible for permitting, installation and testing, and Advanced Engineering for structural review.
Helping Churches and Parochial Schools Achieve a Sustainability Mission
Sustainability is often an important aspect of a faith-based community's mission, but until now churches, parochial schools and other nonprofits have been left out of the solar revolution due to their inability to take advantage of federal solar tax incentives and other challenges. Through Fellowship Energy, these communities can enter into a power purchase agreement (PPA), which guarantees a lower price for solar-generated electricity than the local utility. This makes Fellowship Energy an ideal partner for more disadvantaged communities with limited fundraising capabilities.
About Fellowship Energy
Fellowship Energy was founded to support the sustainability missions of faith-based communities with a financing option that enables them to capture significant savings on their energy bills. With Fellowship Energy's zero-down financing, churches, parochial schools and other religious organizations can add a solar system to their roofs, parking lots, or land and start saving on utility costs and facility operating expenses on day one.
About the DOE SunShot Solar in Your Community Challenge
Fellowship Energy was accepted into the Solar in Your Community Challenge (SIYCC) under the U.S. Department of Energy's SunShot Initiative in 2017. The SunShot Initiative is an effort to support solar energy adoption and make solar energy affordable for all Americans. Under the challenge, Fellowship has committed to financing 16 solar installations with places of worship and parochial schools by the end of 2018.
For more information on going solar with Fellowship Energy, go to www.fellowshipenergy.com.
SOURCE Fellowship Energy LLC