Gasser Foundation

Going Green Pays Off

The Gasser Foundation, created in the 1980s by Peter Gasser and his wife Vernice “Pat” Gasser, is a pillar of support to the non-profits of Napa Valley, California.  Gasser contributes between $1.5 and $2.0 million annually to the local hospitals, hospices, homeless shelters and cultural organizations and has a work force training initiative operating in conjunction with the local community college.  As a long-standing leader in and a steward of the community, Gasser recently appended its mission to include environmental sustainability as a principal factor in all of its activities

Gasser’s environmental focus began in its own backyard with a proposal to install a new solar facility on its own office building to produce almost 100% of its electricity needs - approximately 171,337 kWh of energy annually.  The challenge:  finding a financing structure for the project that took advantage of the Renewable Energy Tax Credit (RETC). 

Enter NDC.  In partnership with the installer, Borrego Solar, NDC devised a financing model that provided the $1.08 million in project costs through a combination of RETC equity, two loans and a state cash rebate offered through the California Energy Commission’s Go Solar Initiative.  This program, capitalized with $3.3 billion, provides a state rebate incentive for residential and commercial solar installations. As an early participant in the program, Gasser locked in a rebate of 26 cents per kWh produced annually.

Not only does this project eliminate 26 tons of carbon dioxide emissions annually (the equivalent of turning the wheels back on an automobile by 58,000 miles a year) but it supports Gasser’s stewardship vision and places it in the vanguard among Napa Valley’s non-profits.  The installation of the solar facility also includes a local work force training program offering “green collar” job training for local residents, training that will pay dividends in the local economy as interest in solar facility installations continues to increase.  And NDC will be there to make the vision a reality.