Church forms an LLC to help fund solar energy project

Starting a company isn’t the only reason to form an LLC. A New Jersey church recently used abusiness incorporation to help fund the installation of solar panels on its roof, the Medford Central Record reports.

After becoming interested in the idea, officials at St. Peter’s Episcopal Church got in touch with a parishioner who is also a contractor. To create the system, the two formed a for-profit LLCcalled Hartford Power Associates.

The contractor funded the project, but the church will eventually pay him back over time and take ownership of the system. Because the structure of an LLC allows the participants to be very flexible with their organizations, it was the ideal formation for the situation.

“We’ll own the system about eight years down the road,” said Muller. “But we wont be paying for the electricity. That will free up money that can be used for other things.”

The project will have a significant impact on the church’s long-term finances. The solar panels will allow the church to generate more than 75 percent of the electricity it uses annually.

Melissa Clark

Melissa Clark

Head of Content & Customer Marketing at Incfile
Melissa sets the vision for Incfile's content marketing and customer relationship management. Melissa has more than 10 years experience in various marketing roles, and a passion for supporting small businesses as they incorporate and grow. She loves sharing information that will help business owners maximize their LLCs, Corporations and Nonprofits. In her spare time, Melissa is an active member of The Junior League and enjoys running half marathons.
Melissa Clark

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