Solarvision (2012)

Celina, OH


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NMTC Amount: $17,169,000

Est. Total Project Cost: $18,086,987


SolarVision, LLC., a Westerville, Ohio-based solar energy provider, has a vision of bringing the many economic and environmental benefits of solar power to schools, municipalities and business throughout Ohio. To execute its vision, the company developed a business model that uses available energy tax credits to provide solar energy solutions that are affordable and provide cost savings to municipalities, educational facilities, and businesses that host the solar panel technology.SolarVision’s Power Purchase Agreement that accesses these credits requires no capital outlay for the hosts, who agree to purchase their electricity from SolarVision at a lower cost than they would normally pay on the open market. At the same time the Power Purchase Agreement allows SolarVision to buy the solar arrays outright with investors who then take advantage of Ohio Advanced Energy Fund tax credits, realizing sizeable returns in a short period of time. Through a connection with Stonehenge Structured Finance, SolarVision was introduced to Finance Fund, which put together $5.6 million in New Market Tax Credits that sealed a financing deal with First Merit Bank. As a result, five solar projects around the state are moving forward. These projects will lower the energy costs of the schools and municipalities involved, are environmentally friendly or “green,” and create solid investment opportunities for supporters.

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