From cutting costs in utility bills to being a prime steward of the land, it is no secret to why solar is gaining popularity. But for churches, going solar can prove to be much more valuable. Like all other non-profits, churches are all too familiar with tight budgets and the ineligibility of solar tax incentives, which is why they must get creative.
Want to devise an incentive to get a new industry really humming? Try creating a $100 million dollar fund to finance its projects. That’s what PG&E Corporation (NYSE:PCG) and solar financing specialist SunRun Inc. have decided to do.
Working through its non-utility subsidiary, Pacific Energy Capital II, LLC, PG&E announced a $100 million tax equity agreement that will offer financing for more than 3,500 solar roof installations planned by SunRun nationally. The fund represents the largest residential
Power purchase agreements and solar leases can eliminate up-front costs and are ideal for commercial use.
When considering solar energy for your business, what you really want is the power, so why shell out for the system? That’s the basic scheme of financial agreements known as power purchase agreements and solar leases that cover up-front equipment and installation costs while the customer pays only a monthly amount.
Does this sound too good to be true? Well, it isn’t, but the process can be rather complicated and contracts become very complex, according to Matt Lugar, vice president of sales at Stellar Energy in Rohnert Park, Calif. Lugar outlined the primary types of financial structures available for solar and the impacts of the 2008-09 financial crisis on the marketplace during a workshop held at the California Center for Sustainable Energy in San Diego, Calif.