Program Description

The Bronx Clean Energy Initiative is a partnership between the Office of the Bronx Borough President and Village Power Finance that seeks to apply the Borough President's record of success in creating affordable housing to the greening of existing affordable housing in the Bronx. The partnership is streamlining existing project development and finance models by migrating them to a digital platform... Read More

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Boiler retrofit, lighting & pump controls

Grand Concourse, Bronx, NY 10451

Over 50% savings on heating and lighting

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100 kW CHP unit & VFDs

Burke Avenue, Bronx, NY 10458

This building will generate 92% of the electricity it needs

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65 kW PV solar and upgrade all building lighting

Morris Park Avenue, Bronx, NY 10461

This building will generate 85% of the electricity it needs

Financial Benefits

12

Total Projects

5,000 kW

Total kW of Projects

$150,000

Total Clean Energy Investment

$12,500

Average Clean Energy Investment
(per facility)

$14,500

Cumulative Savings

$512,500

Average Annual Savings
(per facility)

Environmental Benefits

Franko Stojanovi post a new topic

9 mar at 8:30pm

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Franko Stojanovi post a new topic

9 mar at 8:30pm

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Franko Stojanovi post a new topic

9 mar at 8:30pm

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1 What is Village Power Finance?

Village Power Finance (“Village Power”) provides a platform that helps community organizations manage and finance solar energy projects by aggregating investments from individuals within the local community and, when needed, raising funds from socially responsible investors. Village Power provides the management and operational expertise and tools, including a web-based platform, to facilitate a safe, transparent and efficient process to “crowd-fund” a solar facility and any related clean power investments.

2 Why Not Enter Into a Lease Agreement With a Solar Company?

Most solar lease agreements are based upon high interest payments, as the financing institutions generally view non-profits as risky borrowers. Moreover, these institutions are often not local, so the profits from the projects flow out of the community.

3 What Happens Once the Project is Installed?

From the moment the ribbon is cut on the new solar system, a Community Organization will start saving money. Village Power manages the Solar Project Company, bills the Community Organization monthly for the electricity produced, collects payment, monitors system performance and coordinates routine maintenance. Once a year, the Solar Project Company distributes income and issues tax forms (K-1’s) to investors.

4 Is There a Minimum Investment Amount?

We do not prescribe a minimum investment amount, however solar systems are expensive, typically costing hundreds of thousands of dollars. While it is important to encourage broad participation in the project, we are limited by Securities and Exchange Commission (SEC) rules which pertain to investments of this type and which limit the numbers and dictate the types of investors that can participate in a project. We also strive to keep the number of Village Power Investors at a manageable number so we can maintain a high standard of customer service.