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Co-produced by the National Bankers Association Foundation and Rochdale Capital.

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Direct Pay is a financial mechanism designed to streamline investments in clean energy projects by allowing tax-exempt organizations – such as nonprofits, state/local/Tribal governments, homeowners associations, publicly owned utilities and rural electric cooperatives—to get paid in cash for the value of clean energy tax credits when they buy qualified clean energy property (like solar or batteries) and place that equipment in-service.


In collaboration with Rochdale Capital (a CDFI loan fund), we created a guide to DirectPay for mission-driven lenders. In Part 1, we share insights from leading experts on what Direct Pay is, why it matters, and what is needed to fully realize its potential. In Part 2, we present a turnkey financial model for financing community-focused solar. This section includes a hypothetical case study that digs into the details around funding sources, loan terms, financial projections and more. We also include a detailed impact measurement matrix and an appendix with a glossary of key terms.

Download  A Turnkey Model for Leveraging Direct Pay to Advance Solar and Renewable Energy Finance

Published July 9, 2024

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