Social Solar Solcor III

This campaign aims to finance a photovoltaic plant for self-consumption at ARIPSI - Associação de Reformados e Idosos da Póvoa de Santa Iria in Portugal.

The installation and operation of the solar panels will be installed and operated by the campaign promotor: Solcor Portugal, a company specializing in the development and operation of solar photovoltaic installations. 

ARIPSI was founded on April 25th, 1991, by a group of citizens from Póvoa de Santa Iria. The main goal was to protect elderly citizens in vulnerable situations due to financial or physical issues in the Municipality of Vila Franca de Xira and surrounding areas. Since then, ARIPSI has expanded its cooperation and directly supports more than 170 people. The association is active in four areas: Residential Structure for Elderly People, Home Support, Day Care Center, and Living Center. In each area, the organization offers specific support to elderly people or people in need, totaling 59 people in the Residential Structure, 30 people in the Home Support, 70 people in the Day Center, and 15 people in the Living Center.

Solcor's project involves installing 150 photovoltaic panels, amounting to a total power of 73.5 kWp. It is estimated that 36% of the total electricity consumption will come directly from the solar installation, resulting in a cost reduction of about 41% annually. The reduced dependence on the power grid also protects the organization from price fluctuations and tax burdens.

This campaign offers a longer-than-average loan term for Goparity standards. This means you will receive your capital back and gain interest over a more extended period of time. The rental agreement associated with the self-consumption photovoltaic installation foresees a low monthly payment by the beneficiary, who enjoys savings without initial financial investment to purchase the solar panels. Therefore, since the supply company’s payback period is longer, the payment plan is also extended (8-15 years). In this project, the beneficiary is a social solidarity private institution, and the supplying company is Solcor. Additionally, Solcor ensures the solar plant's operation throughout this period, allowing the social institution to maintain its focus on the community. Payments will be guaranteed in part by Solcor, a financially solid enterprise, and by the beneficiary. The savings generated by the solar plant for the beneficiary can be invested in social impact projects, where they make a difference. A solar panel can be used for about 30 years, making it a safe, profitable investment with relevant environmental impact. Impact investing in this type of project is a commitment to cleaner, safer, decentralized, and democratic energy systems.