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Maryland SREC Market Marches Closer to Equilibrium in 2014

As we wait for the final 2014 Solar Renewable Energy Credits (SRECs) to mint for the state of Maryland, chances are high that the market will be the closest to equilibrium that it has been in 3 years. Uncertainty around this news centers on how many SRECs the state supported Mt. St. Mary’s solar project…

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Solar Industry Shines in New Solar Jobs Census

The solar industry had a landmark year in 2014, according to the Solar Foundation’s 5th annual National Solar Jobs Census, increasing employment by over 20%. This growth represents the largest one-year increase in the survey’s history. Not only did the solar industry add 26,000 new jobs, it grew 20 times faster than the overall U.S….

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SRECs Accelerate Payback Period through Sol Combo Contract

If 62% of Americans responded to a survey agreeing that they would like to use solar in their homes, why do only about .35% of households in the U.S. have a solar installation? For one, many people understand that a solar installation produces cost savings over time, but the upfront costs of installation can be…

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Sol Systems Takes Aim at Commercial-Scale, Will Deploy $200+ Million in 2015

Sol Systems today announced its plan to deploy over $200 million into the solar asset class, to finance at least 150MW of projects. The year has started with a bang for the firm, which is now deploying over $100 million in capital to finance over 100MW of commercial-scale and small utility projects in the 200kW…

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January 2015 Solar Project Finance Journal

Below, we have included excerpts from Sol Systems’ January 2015 Solar Project Finance Journal, which is a monthly email newsletter that our project finance team distributes to our network of clients and solar stakeholders. Our newsletter contains solar statistics from current real-life solar projects, trends and observations gained through monthly interviews with our solar project finance team, and…

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Are Floating PPAs an Idea Worth Floating to Solar Investors?

We are seeing more and more developers structuring deals with floating, instead of fixed, power purchase agreements (PPAs) meaning that the value of the PPA is tied to electricity rates. Developers like to pitch floating PPAs to host customers because they guarantee a certain percentage discount from their utility prices each month. But while the…

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In the Quest to Finance Smaller Commercial Deals, Pipeline is King

Is the solar industry starting to pay more attention to the commercial solar market? From our vantage point, it seems that way, even if just slightly. We are increasingly being approached by developers looking for ways to finance portfolios of smaller projects, as well as standalone sub-1MW deals. Why are developers going smaller than the…

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The Solar Trade Case: A Matter of Cents or Certainty

The Department of Commerce announced that the 31% tariff on some Chinese module manufacturers may be slashed in half. Though the debate continues as to how these fluctuations will affect the growth of solar PV, there has been some near-term uncertainty on price. Some EPCs are holding off on purchasing modules in anticipation of a…

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Why Oil’s Fall Means Little for Solar’s Rise: Part II

In part I of this blog, I discussed the primary drivers of the decline in oil prices. Today, I’ll cover what effect, if any, this may have on solar. PART II:  DO THESE CHANGES IMPACT SOLAR? A.     How Relevant Is Oil To the Electricity Markets Going Forward? If oil prices had fallen thirty years ago,…

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4.4MW Solar Farm Shines as Largest 2014 Managed Growth Project in Massachusetts

4.4MW of solar energy is now operational in Charlton, Massachusetts. The 14,000 panel solar farm is the largest project developed and constructed under the SREC-II program’s 2014 Managed Growth allocation. The farm will produce 5,760,000 kilowatt hours annually, enough electricity to power over 800 homes with clean energy for a year. The project was financed…

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Sol Systems Goes Bi-coastal

After financing 60 projects totaling 85MW in 2014, and commencing deployment of an initial $100 million in capital commitments for 2015, Sol Systems has added five new positions, opened its California office, and expanded the team in the northeast. “Increasingly our developer partners are finding that each time they come back to work with us,…

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Why Oil’s Fall Means Little for Solar’s Rise: Part I

One of the most important stories of the last year was the massive collapse in global oil prices that began in June of 2014, and continues in 2015. It is a topic that comes up over a few PBRs with friends, usually framed as “isn’t this whole thing really bad for solar?” It is a…

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What Happened to New York’s Megawatt Block Program?

A few months ago, we wrote extensively about New York State Energy Research and Development Authority’s (NYSERDA) promising solar incentive program and its excellent, lessons learned, proven design. That was before they finalized the incentive amounts. Now we are not so optimistic. The Tragic Downfall of New York’s Megawatt Block Happened before it Began

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Team Spirit at Work for Our Community

Nothing like a little workplace competition to raise the bar for giving: This month, the competitive spirit at Sol Systems translated into 414 pounds of food donated to the Capital Area Food Bank (CAFB). CAFB is dedicated to feeding those who suffer from hunger in the Washington metro area and is a member of Feeding…

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Illinois Solar Gets Closer to Game Time

The Illinois solar market is marching ahead to an eventful 2015.  Recent action on the Supplemental Procurement Plan means solar energy system owners should look for the Illinois SREC market to come to fruition very soon. Earlier this month, the Illinois Commerce Commission released a draft Proposed Order on the Illinois Power Agency’s (IPA) Supplemental…

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Sol Systems Offers New SREC Contract. Meet Sol Combo

Solar Renewable Energy Credits (SRECs) are a confusing, yet critical, piece of solar finance for solar energy system owners and installers alike. To solve for this, Sol Systems offers four SREC monetization options: Sol Upfront, Sol Brokerage, Sol Annuity, and now, Sol Combo. For many customers, deciding how to handle the solar renewable energy credits…

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December 2014 Solar Project Finance Journal

Below, we have included excerpts from Sol Systems’ December 2014 Solar Project Finance Journal, which is a monthly email newsletter that our project finance team distributes to our network of clients and solar stakeholders. Our newsletter contains solar statistics from current real-life solar projects, trends and observations gained through monthly interviews with our solar project finance team, and…

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As the Weather Turns Frightful, Keep Placed in Service Deadlines Delightful

The biggest story around this time of year is the rush to meet end-of-year placed in service deadlines for 2014 pipeline. In 2013, Greentech Media and SEIA reported that 44% of installs occurred in Q4. We expect the numbers will show a similar trend for Q4 2014. Placed in service deadlines are important for all investors,…

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A Look Back at 2014: What Does a Shortage of Bankable Projects Mean for C&I Solar?

Solar project development is cyclical: more capital chases projects, oversupply of capital brings down yields, capital exits the space, more projects chase the money; rinse, lather, and repeat. As we reflect on 2014, we will remember it as a year when an abundance of sponsor equity was met with a shortage of bankable project opportunities. Here’s…

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Financing Partnerships Drive North Carolina’s Solar Boom

Three new utility-scale solar farms have been added to North Carolina’s energy mix, propelled by a partnership between Washington, D.C.-based solar investment and financing firm Sol Systems, National Cooperative Bank, and Strata Solar. The projects are located on rural farmland in Erwin, Efland, and Hickory and total 18MW of solar capacity which equals the reduction…

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