Springer Electric Cooperative: Utility-Owned Solar Without Tax Credits

Springer Electric Cooperative is a New Mexico utility that owns a competitively priced―comparable to third-party power purchase agreements―1MW PV system.

  • The project did not use any tax credits, due to Springer’s non-profit status, nor any up-front grants.
  • Springer’s case revealed that rural utilities can treat solar as a utility-asset and own solar directly.
  • Springer then successfully leveraged low-interest federal loan program REAP (Rural Energy for America Program), historically used for utility assets such as infrastructure projects.