THE SHARED SAVINGS PROGRAM
How do you determine a monthly payment?
Using databases we've developed internally, we're able to quickly and accurately project your energy savings based on your utility bill and the results of our lighting walk through. With that information in hand, we work with our investors and capital providers to set a steady monthly payment to pay off your installation. This payment will save your organization money, as your electric bill is now reduced, while paying off the installation within 5-7 years.
How much would my monthly payment be?
Give us a holler, and we'll come out to do an assessment. Every building is different, so we'll take a look and see what combination of technology and upgrades would do the most to cut your bills.
What if light bulbs burn out?
That's on us. Solar Holler guarantees and maintains the equipment. So if anything goes wrong, we'll be out there fixing it right away and we cover the full cost of replacement.
Will this reduce my electric bill?
Absolutely--that's the point! We've built out an advanced database so that we can quickly and precisely estimate how much your organization will save. We're happy to share the math behind all of our projections. We use LED lighting that will light your building(s) while using less electricity so your bill is lowered.
Will I end up paying more monthly than I’m currently paying for electricity?
If you keep using the building in the same way as you have, then you will definitely be saving money. The new lights simply use less electricity. If however, behaviors change, or the building is being used more often, that would reduce your savings.
Will the light from the LED’s be too bright?
Solar Holler will work with your staff to make sure that the new lights are putting out the type of light that is most conducive to the space. Bulbs range from more yellow to more blue (that's the Kelvin scale on light bulb packages).
How long do these new bulbs last?
A really long time. Depending on the exact model, they have expected lifespans of 45,000 to 50,000 hours. At 40 hours per week, that works out to between 20 and 24 years.
What happens at the end of the agreement?
You'll have a couple options depending on whether you want the Shared Savings Agreement to be considered an operating expense or if you want to own it outright. In most cases, at the end of the agreement, your organization will own your lights free and clear, with no more payments necessary.
If however, it's better for your organization for the expenses to be considered off-balance sheet, then your options would be to renew the agreement, purchase the remaining value based on a third party appraisal, or to cancel the agreement.
This sounds too good to be true, what’s the catch?
No catch. We just need to make sure it's the right fit for the organization. We'll take a look and make sure that we can save your organization money from Day 1. If we can't make it work, we'll let you know that too.
Who installs the equipment?
Our illustrious master electrician David Ward will perform and oversee the installations. But each project is also a chance to provide training and learning opportunities to young West Virginians. That's why we partnered with the wonderful non-profit Coalfield Development Corporation so that young people from Southern West Virginia will be given the opportunity to learn solar installation, energy auditing, and lighting retrofit skills on every single Solar Holler project.
What will my CFO think?
We have a couple different options for structuring the agreements. We'd love to work with your CFO to better understand the particular needs of your organization. They should be thrilled though--who doesn't want to reduce energy costs from Day 1, while protecting our environment?