About the Randolph Area Community Development Corporation
Randolph Area Community Development Corporation (RACDC) is a nonprofit organization that unites the community behind initiatives which strengthen our region’s social and economic assets in order to enrich quality of life, instill pride, and build confidence. We do this by promoting sound development practices and investment, creating affordable housing options, preserving environmental and historic resources, and leading in the revitalization of downtown and village centers.
Challenges
Like most nonprofits facing tight budgets and continually rising costs of operations, the Randolph Area Community Development Corporation was looking for ways to reduce their considerable costs on energy expenses. Unlike for-profit organizations that can take advantage of federal tax credits and the accelerated depreciation associated with renewable energy projects, nonprofits are often forced to expend limited capital resources or seek grants and donations to switch to cost-saving clean energy. Norwich Solar offered a solution.
Solutions
At no cost to them, RACDC signed up with NST for a Net-Metering Agreement from a locally built solar project. The money they save will be used to increase their services to the community, a common theme among nonprofits who go solar. The array benefitting RACDC is located on an equestrian barn roof at Brookside Farm in Hartford, Vermont, preserving prime agricultural land while providing a long-term source of income for the farm.
Julie Iffland, Executive Director of the Randolph Area Community Development Corporation said, “RACDC looks for every opportunity to make our community more affordable and sustainable, and that’s just what this agreement with Norwich Solar will do. The application of solar credits will reduce the electric utility cost burden on our affordable housing portfolio, and at the same time contribute to greener, more resilient VT power supply.”
Jim Merriam, Norwich Solar CEO said, “RACDC was a great partner to work with on this solar project. The project not only generates solar credits to support affordable housing in Randolph, but the project also highlights the value of organizations like RACDC that are actively engaged in maintaining affordable housing in Vermont.”
