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Maryland’s SREC Market: Nothing to be Crabby About

This blog first appeared in The Energy Collective Despite consistently ranking in the top 15 state solar markets, Maryland has long flown under the radar for most developers. Due to moderate electricity prices and thin margins, the Maryland market does not command the same level of attention from developers as do the frothy markets of…

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This Post is Powered by Wind

Sol Systems’ Washington, D.C. office now runs on 100% clean energy. Through our Clean Energy Partnership with Arcadia Power, the energy used at the company headquarters is offset through the purchase of wind renewable energy credits (RECs). Arcadia Power is the first nationwide Clean Energy Utility option, and provides business and homes with 100% pollution-free…

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The Top 3: Reflecting on PFJ Trends of Years Past

In honor of our seven-year anniversary, we thought it would be fun to look back at Project Finance Journals of years past and reflect on our most popular content. Here are the findings: 1)     Massachusetts Rides the Solar Coaster The Commonwealth sure knows how to keep it interesting, taking developers and investors alike on a…

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SOURCE: The Sol Project Finance Journal, May 2015

SOURCE is a monthly solar project finance journal that our 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 it incorporates news from a variety of industry resources. Below, we have included excerpts…

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Not Asking for Much: Why Pricing Trends Downward for the sub-500kW Space

Since our first Project Finance Journals in 2012 (check out this throwback from October 2012), we have been gathering statistics on PPA rates in each state market, feed-in tariff programs, and all-in asking prices in three different project size tiers: <500kW, 500kW – 2MW, and >2MW. Why do we share these stats with the industry?  We’ve…

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The 7-Year Sol-iversary

One evening at a party in 2008, Yuri Horwitz and his college track teammate, George Ashton, became immersed in a deep conversation about the inefficiencies in environmental and carbon markets. Several follow-on conversations turned to action as the two began working nights and weekends to build out a vision and viable business plan to make an…

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Giving That Matters: Prime Time with Golden Gate National Parks Conservancy

Last week, Sol Systems West volunteered with the Golden Gate National Parks Conservancy (GGNPC), a nonprofit organization dedicated to the stewardship and conservation of the Golden Gate National Recreation Area. The Sol West team, along with CEO Yuri Horwitz, spent the morning in Crissy Field in San Francisco working on grounds and historic site maintenance….

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SunFarmer: Powering Nepal’s Recovery

On April 25, a 7.8 magnitude earthquake hit Nepal. Most rural health clinics were completely destroyed, and emergency teams are currently working out of makeshift structures without electricity; there is no power available to charge cell phones, let alone to treat patients. In the aftermath, SunFarmer, a non-profit that has been focused on solar installations…

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Connecticut Utilities Announce Year Four ZREC Program

…And may the odds be ever in your favor. Today, Eversource (formerly Connecticut Light & Power) and United Illuminating (UI) announced the joint issuance of the fourth year of the Low Emission and Zero Renewable Energy Credit (LREC and ZREC) program. 2015 Program Summary The program will include three separate tiers for bidding: LREC, Medium…

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North Carolina Opts for Delayed Sunset of the State Tax Credit

Hold onto your hats, y’all – it’s going to be a wild year for North Carolina solar. Last week, the North Carolina legislature passed a bill offering a soft landing to the official end date for the state’s 35% state tax credit.  While the tax credit cliff is scheduled for December 31, 2015, new legislation…

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Zooming Out to Brighten the Future: Creative Day at Sol

If your work days are full with responding to emails, crunching numbers, following up on punch lists, and a portfolio of meeting and phone calls, then you’ll appreciate the importance of taking a time out challenge the status quo. Well, it’s not as much a time out as it is a zoom out. One of…

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Announcing the 2015 Delaware SREC Procurement

This year’s Delaware Solar Renewable Energy Credit (SREC) Procurement Program solicitation bid window opened on Monday, April 13th, 2015, and will remain open until Friday, April 24th at 5:00 pm. The Procurement Program gives new and existing Delaware-sited solar systems an opportunity to bid into a 20-year contract for their SRECs. Winning bidders in each…

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Maryland Passes Community Solar Bill

It’s official: the Maryland state legislature has passed HB 1087, titled “Electricity – Community Solar Energy Generating System Program,” bringing MD one step closer to community solar. If you’re not familiar with community solar, check out our write-up on the Maryland community solar legislation and the challenges faced by these programs. The bill, which enjoyed…

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Legalize It: Behind the Movement to Make PPAs Legal

The PPA dominoes are beginning to fall: Iowa, South Carolina, and Georgia have opened up their markets to third party financing. North Carolina is among the states that may be next. How will that impact the commercial and small-utility scale markets in these states? We ran our models to test out how Georgia and North…

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April 2015 Solar Project Finance Journal

Sol Systems’ Solar Project Finance Journal is a monthly email newsletter that our 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 it incorporates news from a variety of industry resources. Below, we…

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Prepaid PPAs: Nice, but “Nichey”

For commercial and small utility-scale solar, the prepaid PPA is a great idea… in theory. By prepaying for expected generation over the contract term, the long term price that the offtaker pays for electricity can be much lower. Assuming the offtaker can find the cash to handle the large prepayment, these deals can increase IRR,…

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Keep the Ship Sailing Smoothly in a Lumpy Solar Development Seascape

Nobody likes to sleep on a lumpy mattress, or to eat lumpy mashed potatoes, cream of wheat, or grits. Solar developers and investors don’t like lumpy solar markets either, but that is the reality of the industry today. Many solar markets have become “lumpy,” meaning it is difficult to find states or utility territories in which…

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Illinois SREC Market Heats Up

It’s game time. Well, almost. The Illinois solar renewable energy credit (SREC) market is poised to take off, and the Illinois Power Agency’s (IPA) first Supplemental Photovoltaic Procurement event is right around the corner. And, with recent uncertainty surrounding the Department of Commerce and Economic Opportunity’s (DCEO) grant program, the Illinois solar industry is looking…

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Stall on Takeoff: NYSERDA Program Re-Emerges, Still Without Upstate Rooftop Opportunities

When NYSERDA announced on March 26 that they were withdrawing their >200kW Megawatt Block program from launch for significant revision, we confess that we were optimistic.  Reportedly, April 7 would reveal a radically revised program.  Perhaps they read our blog!  Maybe they would listen to the many hard-working policy stakeholders, and replace the opaque and flawed…

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Making Residual Value Real: Where is Solar’s Emilio Estevez?

It is no secret that costs of capital must decrease to make distributed generation a massively scaling resource. And, as costs of capital steadily decrease, the “residual value” – what happens to the asset once the PPA has run out – becomes more and more important.   With that in mind, it no longer seems reasonable…

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