ODC, the San Francisco-based contemporary arts institution will be generating more than applause in the coming years. They will be generating their own electricity. Through a new crowd-lending campaign with CollectiveSun, ODC has raised nearly $200,000 from their community for a solar power system. The community investors will be repaid at a 4.8% interest rate over 10 years.
Berkeley-based Sun Light & Power installed the 140 Canadian Solar Inc. panels with 3 SMA Inverters on ODC’s two buildings in the Mission district: ODC Theater and the ODC Dance Commons.
Lee Barken, Chief Community Officer at CollectiveSun said, “Sun Light & Power is a natural partner for CollectiveSun as we reach out to communities to support solar power for nonprofits. Since Sun Light & Power is committed to making a positive difference in the world, we were delighted to see them selected by Oberlin Dance Collective for their project in San Francisco’s Mission District. Sun Light & Power has gone above and beyond to make this project a success.”
The solar system at ODC in San Francisco is funded through CollectiveSun’s “crowd-lending” model.
“We fund these solar power projects by connecting impact investors, those who choose to invest in cause-related opportunities, with the nonprofit projects,” Barken said. “More importantly, we’re able to create both financial and non-financial supporters for great organizations like ODC.” ODC is expected to save in excess of $300,000 over the next 25 years.
“With two buildings to power, ODC is going to use solar power to help reduce the escalating expenses related to powering our office, school, and theaters,” said ODC Executive Director Victor Gotesman.