Bright Community Capital was founded to accelerate the adoption of solar energy production in rural and low-income communities across the country through creative financing products that help lower costs.
Permanent Project Financing (Equity and Debt)
BCC brings long-term project level debt and equity for projects or portfolios of projects totaling at least 200 kW. We are focused on expanding solar adoption at the community-level through installations on affordable housing, community facilities and municipal buildings, all of which increase access to the benefits of solar to those who wouldn’t be able to on a individual level.
Flexible Capital for Developers
BCC also provides capital to highly impactful renewable energy developers. An example is our first financing, where BCC provided a royalty note to Encore Renewable Energy, a B-Corp., solar developer based in Vermont, where Encore paid based on sales, rather a hardcoded schedule. This provided flexibility that was critical to their cyclical business.
Click an image below to learn more about our portfolio.
- Hanover Offsite SolarRochdale, MA
- Ignite Renewable Capital DCWashington, DC
- Madison Park Development SolarBoston, MA
Hanover Offsite Solar
Rochdale, MA1 MW
Hanover Off Site Solar (“HOSS”) is a 1MW ground mounted project located on five acres of a nineteen acre parcel of farmland in Rochdale, MA (a suburb of Worcester).
Power is being sold to two different off-takers: the town of Millbury, MA and the Hanover Theatre for the Performing Arts (“Hanover Theatre”), which is located in a severely distressed census tract in Worcester, MA that reported a 40.6% poverty rate in the 2010 census. HOSS offsets 80% of the Hanover Theatre’s electricity at a 20% discount over the Grid Rate. The savings help support the Hanover Theatre’s educational programs, which include their “Adopt-A-School” program that provides free tickets to more than 1,500 students annually, scholarships for their conservatory program and a six week recreation camp that takes place in ten different public parks and is provided free of charge to almost 750 Worcester children.
Originally constructed in 2011, BCC purchased the project in 2020 following the Investment Tax Credit period. BCC continues to provide discounted rates to the Hanover Theatre and Town of Millbury and has improved the environmental impact of the project by converting ground maintenance from mowed lawn to a pollinator-friendly habitat. According to the EPA’s Carbon Calculator, the production expected over the next eleven years is the equivalent of 11.6 million pounds of coal or 1.18 million gallons of gasoline.
Learn more: https://thehanovertheatre.org/
Ignite Renewable Capital DC
Washington, DC225 kW
This project consists of 40 residential solar systems, totaling approximately 225 kW, spread across Washington DC. Power is being sold for free to the residential customers in exchange for the Projects being placed on their roofs. This will provide free power for 20 years to the customers, resulting in total savings of approximately $30,000 per year (or $750 per customer), or $725,000 over the Portfolio’s life ($18,125 per customer).
The Portfolio will generate revenue through the territory-mandated solar renewable energy certificates (“SRECs”), which allows for the owners of solar projects to sell the green / renewable attributes so that local utilities can meet their territory-mandated renewable energy generation mandates.
Learn more about Ignite Renewable Capital
Madison Park Development Solar
Boston, MA~580 kW
Madison Park Development Solar (“MPDS”) is a portfolio of 17 solar roof-top installations totaling ~580 kW is being developed by Resonant Energy. All of the projects will be sited on roof‐tops of the Madison Park Development Corporation’s (“MPDC”) portfolio of commercial and multifamily affordable housing properties in the Roxbury neighborhood of Boston, MA. The projects are clustered together and located in a distressed or a highly distressed census tract.
MPDC is committed to sustainability and was recognized as a Green Organization Designee by NeighborWorks America. They continuously retrofit existing projects to meet sustainability standards and their new construction is LEED certifiable. In addition to their buildings, MPDC works with the Boston Health Public Commission and the Dana Farber Caner Institute to address the intersection of community health and sustainability with their residents, initiating programs including urban gardening, community supported agriculture (“CSA”), a farmer’s market, fitness classes, walking clubs, biking clubs and alternative modes of transportation.
Resonant Energy is a solar developer based in Boston whose mission is to help underrepresented communities build and finance solar arrays. They specialize in working with nonprofits, houses of worship, affordable housing developments, small businesses and homeowners. As of December 2020, this project is under construction.
Learn more: http://www.madison-park.org/
Encore Renewable Energy
Burlington, VTDeveloper Funding
Encore Renewable Energy LLC (“Encore”) is a solar development company that focuses on commercial, industrial and small utility scale solar PV installations, acting as both a greenfield developer and the master engineering, procurement and construction firm who oversees construction of their projects.
Encore, based in Burlington VT, is considered a local/regional leader in the commercial, industrial and small utility scale solar development industry. They have a long track record of successful project development in Vermont and northern New England – a place notoriously challenging to complete project development. BCC is participating in a $1MM revenue loan/royalty note to Encore to support growth of operations. Using financing from the royalty note, Encore envisions expanding their workforce to seventeen over the next five years, creating eight new living wage wages with robust benefits.
Learn more: https://encorerenewableenergy.com/