green projects

green projects

In the Spotlight

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“The customer service is some of the best of any customer service I have encountered. Greenpenny feels like a partner.”

- Gary Gustafson 
RA Energy LLC

Lincoln Farmstead

Solar Powered Dream Wedding Destination

Lincoln Farmstead and Greenlink Energy Solutions

Nestled in farmland is a barn wedding setting for those seeking a laid-back celebration in the countryside northwest of Chicago, Illinois. Next to the renovated dairy barn is a newly constructed solar array capable of supplying all of the power needs for guests at Lincoln Farmstead.

“Our farm uses more electricity than most people realize and was one of our highest expenses,” states Barb Lincoln. “In addition to creating a reliable power supply, solar is an initiative that reduces CO2 emissions. Our visitors appreciate nature, and going solar is another way to demonstrate our desire for a more natural environment”. Greenlink Energy Solutions, Inc. installed the 21-kilowatt (kW) solar array that was financed by greenpenny. Greenlink is based in Rockford and serves northern Illinois.

Upper Iowa University and Eagle Point Solar

Sustainability at University: Solar Put To Work For Students

Upper Iowa University and Eagle Point Solar

Winter can’t keep the sunshine from forward-looking leaders at Upper Iowa University. They know that electric energy expenses will drop by increasing renewable energy use on campus. The benefits of solar go beyond financial savings, and is enticing colleges and school districts to become leaders in solar development.

Jim Pullen, President and CEO, and Larry Steffen, Executive VP of Sales and Marketing of Eagle Point Solar, first met two Bank employee-owners during the 2020 RENEW Wisconsin Renewable Energy Summit. Pullen later connected the Bank with Upper Iowa University to finance the two recently-installed 336-kilowatt solar arrays. This is the equivalent of having two-thirds of their football stadium powered by the sun.

“Eagle Point Solar has become the largest solar installer in the region with over 1500 installations by not only designing and installing quality solar systems but by also assisting our clients, like Upper Iowa University, with effective financing options,” said Pullen. “Building strong partnerships is essential, and we are glad to have a local Iowa organization that understands our needs to help us assist our clients.”

Pictured from left to right: Mike Ludeking of greenpenny, Jim Pullen and Larry Steffen of Eagle Point Solar.

Abingdon-Avon High School and Keystone Power Holdings

Flexibility is Key in Partnerships: Speed and Ease gets Deal Done

Abingdon-Avon High School and Keystone Power Holdings

Abingdon-Avon High School will experience a significant reduction in ongoing energy costs. It will leave a smaller impact on their carbon footprint with the 700-kilowatt solar field array and is estimated to save the school district $650,000 over 25 years. According to an interview with WGIL Radio, School Superintendent Dr. Mike Curry mentioned that school faculty plans to use the solar project as a teaching tool in STEM class and are excited about the process.

An Illinois lawyer that works with financial institutions recommended greenpenny to co-founder Anthony C. Fotopoulos, of Keystone Power Holdings, a solar development company tasked with the School project.

One of the things Fotopoulos appreciates is greenpenny’s partnership with 1% for the Planet®, and knowing that 1% of its deposit revenue goes to environmental non-profit Winneshiek Energy District. He comments that he is impressed with the flexible financing structure and greenpenny’s willingness to find ways to help the School see the project through to success. Fotopoulos adds that the speed and ease of the loan closing was a straightforward and efficient process. He finishes by stating that Keystone Power Holdings is looking forward to partnering with the employee-owners at greenpenny again in the future.

Barry and Dana Anderson and Trusted Energy

Saving Money with Solar: Bank Partners with Farmers in N.W. Iowa

Barry and Dana Anderson and Trusted Energy

Heating two large farm buildings was costing the Anderson’s $1500 – 1800 every month. Barry and Dana Anderson of Clay County, Iowa, wanted to be a little more green and offset their fossil-fuel electric use to cut costs. They reached out to Trusted Energy in Storm Lake, Iowa, to discuss renewable energy solutions, choosing a solar array. Soon after, they learned that their entrusted local community bank wasn’t interested in taking on the complexity of underwriting a solar loan. The project was shelved for a while, but the Anderson’s knew the solar tax credit advantage was a good one.

That’s when President and CEO of Trusted Energy, Rob Hach, suggested the Anderson’s talk with greenpenny’s business financing specialist V.P., Mike Ludeking. Hach and Ludeking had worked on planning a renewable project in the past, and knows that the Bank has financed over 100 commercial and residential solar projects to date.

Barry did just that. He enthusiastically commented that Ludeking and the Bank made solar financing easy with great customer service. This gave them time to take advantage of the 26% solar tax credit in 2020. Which is a good thing, because saving time and money is important for everyone.


Solar Financing for Midwesterners: Greenpenny Partners on School District Net-Zero Project

Wabasha-Kellogg Community Schools and RA Energy

With the leaders at Wabasha-Kellogg Community School District wanting to be good stewards of the land and its environment, so began RA Energy owner Gary Gustafson’s, journey of teaching and helping the leaders develop a sensible plan to become a net-zero energy user. Their team chose greenpenny to finance the project, and so the story begins.

Gustafson discovered greenpenny through a fellow developer when discussing a community solar garden. When he reached out to us, the project seemed like a great match and financing the project moved forward. Additionally, the school district sold tax credits to reduce the overall cost of the project by 30%.

In the end, greenpenny was able to help finance the solar fields to help the School produce its own sustainable energy. The district also installed LED lighting and was able to reduce water consumption by 300,000 gallons annually as part of their overall goal to become a net-zero energy user. A huge success for all involved.

Contact Us Today

If you want to learn about green project financing or have questions about opening a Checking, Savings, or CD account, we want to hear from you. Call us at 888-473-6690 or chat with Penny, our virtual assistant.

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