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Tag:

Investment Tax Credit

High Net-Worth Individuals Getting in on the Solar PPA Game

High Net-Worth Individuals Getting in on the Solar PPA Game

written by Walter Wang

Investment in solar projects in the United States has largely been the purview of large financial institutions with the tax appetite to utilize the investment tax credit, thus favoring larger solar projects. Now, with innovative financing structures, high net-worth individuals can get in on the game and unrated credit customers with smaller solar projects can save money on future energy costs. A win-win. This week, Conergy a leading global solar photovoltaic downstream company, along with its owner, Kawa Capital Management, Inc. (Kawa) has closed one of the first leveraged tax equity partnership structures with individual investors who could utilize the investment tax credits.

The first project to utilize this innovative financing structure happens to also be Palo Alto’s second largest solar roof system. The system, installed at the Oshman Family JCC (OFJCC) in a partnership with THiNKnrg is a 397.5 kW system. Encompassing 1,840 solar panels spread across the rooftops of 12 buildings, the project is expected to save $26,000 in the first year and an estimated $1.5 million in energy savings over the 20 year PPA. The solar energy system will supply approximately 20 percent of the OFJCC’s energy needs. In addition to its financial savings, the OFJCC will reduce its carbon footprint by more than 3,000 tons of CO2 during the 20-year lease, which is the equivalent to planting 68 acres trees.

According to Anthony Fotopoulos, CEO, Conergy Americas, “Combining individual investor appetite for investment tax credits alongside debt from specialized financial institutions like Kawa in this new structure allows Conergy to uniquely finance projects that previously were too small for typical tax equity investors, or didn’t fit usual tax equity requirements. Solar projects that were previously considered un-financeable, can now be financed.” Fotopoulos further noted, “There’s no reason any building or land should be prevented from having solar on it should they want it.”

 



February 26, 2014 0 comment
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Lessons From Germany on Solar Costs

written by Walter Wang

Solar has never been more affordable for more Americans – with residential prices dropping an impressive 14% over the last year alone. But global solar leader Germany is still beating the U.S. in the race to low-cost PV.

The Lawrence Berkeley Lab released a fascinating

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October 8, 2012 0 comment
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Rethinking the Role of Government in Cleantech

written by Walter Wang

Another year, another wringing of the hands over tax credits and incentives for clean technology.

Lobbyists and vendors in the U.S. are once again singing the blues, calling for continued and expanding government investments in clean technology. At the same time, political challengers continue their Solyndra hootenanny,

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May 17, 2012 0 comment
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Listen Up Lawmakers: Americans Support Solar Power

written by Walter Wang

We spend our days advocating for smart solar policy because we believe that harnessing the sun for more of our power is the better path forward. Turns out plenty of our fellow Americans feel the same way.

Polling released yesterday by SEIA and Schott shows that an impressive 9 out of 10 Americans think it’s

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November 2, 2011 0 comment
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Gabrielle Giffords, a Solar Champion

written by Solar Calfinder

By this time, most people have seen or heard the news about Representative Gabrielle Giffords (D-AZ) being shot Saturday afternoon, January 8, in Tucson, Arizona – an episode of violence that left six people dead, including a 9-year-old girl, and Giffords in critical condition.

What fewer people know about is Gifford’s

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January 12, 2011 1 comment
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Tax Relief Act Provides Critical Extensions for Cleantech

written by Walter Wang

The left is not fully satisfied. Neither is the right. However, the recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” (Tax Relief Act) provides significant relief to the energy industry and alleviates the pressure of trying to seal the deal on many projects before the end of the year.

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December 17, 2010 2 comments
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China Or the United States — Who Will Be the Silicon Valley of Clean-Tech?

written by Nick Nigro

The fight for leadership in clean-tech is underway. The next decade will prove pivotal in determining where the Silicon Valley of clean-tech will reside. While the U.S. is now putting considerable resources into clean-tech, the strongest competitor has only just entered the contest.

Announced in July, China’s Golden Sun program will increase installed capacity of solar power by five times its 2008 level in the next 2-3 years. China also initiated a residential program to subsidize solar. The nation has quickly emerged as a major player in one of renewable energy’s key sectors. Furthermore, China earmarked nearly $100 billion of economic stimulus for projects related to climate change. This is not to mention the enormous growth of the wind power industry in China, which required Chinese lawmakers to double their wind power prediction for 2010. The country plans to add wind capacity to match the massive Three Gorges Dam within the next decade. All the while, China has strict protectionist rules limiting the beneficiaries to local companies. The likely best hope for foreign entities is to collaborate with their Chinese counterparts similar to the success of American automakers.

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August 21, 2009 5 comments
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