Porter Farms is a family farm in Mercer County, Missouri. For over 100 years, the Porter family has grown corn and soybeans in northern Missouri. The C-PACE financing funds solar PV installation at various locations across the property and associated sites, lowering electricity bills and providing other financial benefits. By using a buffer strip to contain erosion, the systems did not reduce crop ground.
Highlights
Missouri Clean Energy District funded this C-PACE transaction through the USDA Intermediary Relending Program using the FASTPACE platform. The $400K financing is the first deal ever closed on the FASTPACE platform. The project also benefits from the Investment Tax Credit, utility rebates, and a grant from the USDA Rural Energy for America Program.
Results
The project showcases how diverse sources of capital can be leveraged to support clean energy measures and how state and local entities are at the leading edge of implementation. As Lori Porter noted: "Our new solar PV system will help us lower our energy costs and stay competitive. The FASTPACE Program was good for my family and our business."