- Team Lead
- Michael Copeland
- Project / Program Description
Bluesource Renewables, L3C has a social impact focus to serve nonprofit entities. We have access to Program Related Investments(PRI) and Mission Related Investments(MRI) and tax equity partnerships from social impact driven investors. We are still able to bring market rate returns for our investors, but our focus is on creating significant impact for our NGO recipients. Our primary focus is Faith-Based, Health, an Educational entities who are committed to serve those in need. Their expenses are increasing disproportionately to their donations, creating a financial burden and obligation just to keep the lights on, let alone be effective at achieving their missions. We want to increase their cash flow through a massive reduction in their expenses and see the money redirected to social impact. We are committed to giving 50% of our net revenue to social impact causes as well.
Traditional PPAs are 20+ years in length and provide marginal savings. Our PPA is designed to bring substantial savings to the system recipients through shorter life PPAs and more aggressive curtailment of energy expenses. Our plan is for our recipients to own their energy after the initial PPA term, putting a finite life on their utility expenses.
We have implemented several successful projects in Utah. Our focus has shifted to the DC and Maryland region for two reasons: The first is the SREC value. We want to utilize this opportunity to shorten the PPA term and provide a revenue stream for our recipients. The second reason is virtual net metering, allowing us to sync multiple accounts to a single system.This reduces risk and cost. It also allows us to provide the energy needed for those who cannot host their own.
Our biggest need is space available to host a large community system in the DC footprint. We can provide systems for each of our recipients at their sites but it will not meet all the demand. We will be building systems as small as 25kw and as large as 5MW.
Our model will work in any State that allows 3rd Party Ownership. We want to be opensource and we want to be copied. We want to see significant impact.