We’re excited to announce that NLC is going solar in the first quarter of 2018! The Rise Solar Project provides an excellent opportunity to reduce NLC’s carbon footprint, and strengthen future ministry. As we move toward better environmental stewardship, we’ll also harness solar power to accelerate the pay-down of our existing mortgage.
The Big Picture
There are a lot of great ministry programs happening at NLC, and the facilities are in use everyday of the week. That adds up to a substantial electric bill – approximately $42,500 annually. Rising utility rates (4% a year) means that the new solar system will save an estimated $1,000,000 over a 20-year period!
As these savings are applied to our $1,500,000 mortgage balance, it will enable us to accelerate our rate of principal pay-down and eliminate our mortgage by 2030. This will amount to an extra $13,500 per month, or $162,000 a year, that is freed up to help grow other areas of ministry.
Up Front Costs
The total project cost for the new Solar System is $314,000. That breaks down to 309 Solar Panels at $1,019 each. If we’re able to fully fund this project up front, we’ll immediately benefit from the system and begin a pattern of accelerated loan principal pay-down.
Throughout the month of November 2017, we’ll be receiving pledges for this project. Every dollar contributed greatly accelerates the benefit of this project. Over 20 years, each $1 will become about $5.75, and every $1,000 will become $5,750.
Thank you for your heart to further the future!
Text $amount + solar to 415-639-9444. (Example: text “$50 solar” to give to Rise Solar Campaign.)