Research Case Study: Springer Electric Cooperative: Utility Owned Solar Without Tax Credit Case study examining how a non-profit electric cooperative used a federal loan to deploy solar Showcases effective and creative solutions to solar financing challenges Analyzes a valuable incentive available to rural electric utilities Utility-owned Solar Case Study This case study is part of a series aimed at documenting how non-profit utilities—both municipal and electric cooperative power providers—have overcome the financial challenges to solar deployment. What’s in the Case Study? Springer Electric, a non-profit electric cooperative, built a 1-MW, utility-owned solar PV system at a price comparable to other third-party power purchase agreements. Anticipating the expiration of the federal Investment Tax Credit, Springer Electric used a low-interest federal loan program available to hundreds of rural electric utilities (or solar developers working with rural utilities). The utility loan program has historically been used for utility infrastructure projects (e.g., wires, poles, substations, etc.), but can also apply to solar. This case study describes how the loan was acquired and used to develop the project.