Author: EnerWealth Solutions Staff Published: 7/9/2021 EnerWealth Solutions
Who We Are
Vision
Our vision is of an ecologically sustainable world, where power is held locally and decisions are made democratically, where all electricity is generated by clean distributed renewables, and where economic prosperity is shared by all, especially those who have historically been left behind by America’s success.
Mission
We believe the abundance of the sun’s energy is matched only by the power of people together.
We love the places rural Americans call home. We believe in the inner strength of rural people. We develop projects that celebrate and elevate the inner wealth of rural communities by reinvesting in those communities: our communities. We are EnerWealth, an energy solutions company.
Team
Ajulo E. Othow, Esq
Founder and CEO
How Our Model Works
Solar power stored locally in batteries that can be flexibly deployed during times of peak demand to reduce electricity costs for all member-owners
SOLAR + STORAGE
+
COMMUNITY WEALTH
Unique profit share model that supports small and minority landowners + funnels a portion of revenue into a local community development nonprofit controlled by member-owners
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Reduces energy costs for all member-owners
Because the cost of electricity is determined by demand, it is most expensive during times of highest usage. This is known as peak energy cost.
Peak energy costs do not necessarily correspond to when the solar array is producing the largest amount of energy.
By storing energy during peak production time and deploying it during the time of peak cost, the array can contribute to a significant reduction in the cost of electricity overall.
…LOWER OVERALL COSTS CAN MEAN A LOT IN RURAL COUNTIES
92% of persistently poor counties in the United States are serviced by rural electric cooperatives. (Source)
In some of the poorer counties residents may spend up to 40% of their yearly income on energy bills alone. If a household spends more than 6% of their income on energy they are considered to be living in energy poverty. (Learn More)
That is partially due to lower average incomes in rural areas, but also due to higher energy bills stemming from higher rates in rural areas and generally older-than-average houses that lack efficient heating and cooling capabilities.
2. Supports small and minority landowners to build wealth and preserve their land
Landowners hosting infrastructure on their land typically sign a long-term lease equal to about 7 times what they would have received had they leased their land for traditional crops. (Learn more)
On top of lease payments, landowners also receive a profit share of revenue generated by the array. This is different from a traditional dividend as they are not held liable for any losses.
This helps keep lands under family stewardship for generations to come.
3. Supports the entire community
A second profit share (separate from that received by landowners) is funneled into a local community development nonprofit, which is controlled by member-owners of the REC.
This nonprofit determines how to use the proceeds: grants, education programs, conservation, job training…it’s up to the community.
Creates 10 temporary jobs in solar installation as well as 1 – 2 permanent, high paying jobs in system maintenance.
FINALLY, AS AN ADDED BONUS…
Projects also provide pollinator habitats surrounding the sites.
A properly planned pollinator habitat provides a diversity of nectar and pollen sources for insects, birds and bats who play a crucial role in the production of most fruits and vegetables.
Travis Moe, MSW
SVP, Strategic Outreach