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The Moment We’ve Been Waiting For: MA SREC Clearinghouse Auction Results

It’s the moment we’ve all been waiting for. Well, at least for Massachusetts SREC customers. On July 29th, all 2015 Compliance Year SRECs that were deposited into the Massachusetts Department of Energy Resources (DOER) Auction Account on New England Power Pool (NEPOOL) cleared in the first round of the Clearinghouse Auction. Massachusetts is the only…

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On the Rhode Island to Success: Rhode Island Passes Laws to Strengthen Renewable Energy

Early last month, Rhode Island’s Gov. Gina Raimondo signed a package of legislation that will expand renewable energy investments by: Increasing the Renewable Energy Standard (RES) from 14.5% by 2019 to 38.5% by 2035 Opening the market to community distributed generation systems and shared solar facilities Creating a 30MW Virtual Net Metering (VNM) Program for…

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Investing in Community: Schools (Nonprofits) and Solar Energy

Just like any residential or commercial customer, nonprofits must consider many factors before financing a solar project. Unlike homeowners and businesspeople, however, 501(c)3 organizations are tax-exempt and thus cannot directly benefit from the Investment Tax Credit (ITC) like their for-profit counterparts can. The ITC incentivizes taxpayers such that 30 percent of the dollar amount invested…

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FERC Ruling Opens Solar Market Potential to Co-ops and Munis

Access to solar energy has significantly increased as the cost of solar installation has dropped 70 percent within the past decade (2006-2016). Cost declines, when paired with supportive energy policies, have enabled the growth of solar in new markets. One such policy, the Public Utility Regulatory Policies Act of 1978 (PURPA), has been critical for…

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Employee Spotlight: Rebecca Tilbrook

The unique and dedicated team of people who work at Sol Systems have been a key part of our success over the past eight years. With a growing staff of nearly sixty full-time employees, in offices at Washington, D.C., Philadelphia, and San Francisco, the driven, talented group of industry professionals have created resourceful financing mechanisms…

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Grounded, Growing: Sol Systems Over the Years

Then & Now Sol Systems is deeply rooted in effective teamwork. Co-founders George Ashton (President) and Yuri Horwitz (CEO) started as track teammates in 2001 at their alma mater, William and Mary. After school, their career paths parted ways—George becoming a finance professional and Yuri a clean energy lawyer. Ultimately, George and Yuri re-joined forces…

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SOURCE: The Sol Project Finance Journal, July 2016

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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Property Taxes: Still Taxing

Increases in project costs due to property taxes and/or a developer’s inability to secure a payment in lieu of taxes (PILOT) can make or break the economics of commercial and small utility-scale projects. According to a report written by Sunshot, Meister Consultants, and the North Carolina Solar Center, property taxes can add anywhere from $1/MWh…

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Module Shortage? That’s So 2015.

Oh, how quickly things can change in one year on the solar coaster. After reporting extensively on module shortage rumors throughout 2015, a funny thing has happened: we are now facing a module oversupply. Why? Decreased demand from major rest-of-world markets is creating a glut in supply. GTM Research expects a reduction of 3% –…

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Procurement DE-claration, 2016: SRECDelaware Announces 2016 Procurement Results

The Delaware solar renewable energy credit (SREC) program, SRECDelaware, recently announced the results of its 2016 Procurement. This year, procurement was marked by a higher than anticipated volume of SRECs produced by new systems between 25kW and 2MW in capacity. In response, Delaware’s state utility, Delmarva, decided to buy the resulting 2446 excess SRECs. The…

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Clean Energy Incentive Program Marches Along Despite Clean Power Plan Stay

Despite the “stay” halting implementation of the Clean Power Plan (CPP) earlier this year, rulemaking regarding the national Environmental Protect Agency’s (EPA) Clean Energy Incentive Program (CEIP) continues. The purpose of the CEIP is to encourage early investment in renewable energy (i.e. wind and solar) and other technologies prior to the effective date of the…

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The Run for the Sun 5k Benefiting CALSEIA Is Almost Here

Last month, many of our employees joined in supporting renewable energy by running the CELI Run for Clean Energy 5k – a race sponsored and led by Sol Systems – in Washington, D.C. Next Wednesday, July 13th, we will be heading across the country to San Francisco to step up to another starting line at…

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Meet the New Faces of the SREC Customer Service Team

Sol Systems is pleased to introduce two new members of the Solar Renewable Energy Credit (SREC) Customer Service Team: Lauren Miller and Avery Sellers. Along with Bridget Callahan, Kate Brandus, and Jessica Cowan, Lauren and Avery are responsible for managing over 7,000 customer accounts, with tasks ranging from registration with regulatory entities to assisting with…

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SOURCE: The Sol Project Finance Journal, June 2016

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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The Rise and Stall of the Commercial Solar Market

GTM Research recently released its report on the non-residential/commercial solar market, demonstrating relatively stagnant growth of the sector for the fourth straight year. According to the report, after a rise in installations from 2010 to 2012, commercial solar, consisting of projects where offtakers are neither homeowners nor utilities, has consistently hovered around a gigawatt (GW)…

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So, You Want to Go Merchant…

In some markets, solar is now at a price point where installation costs are competitive with locational marginal pricing (LMP). As solar costs continue to fall, the potential for merchant solar is on the rise. With overall system pricing decreasing by 5-10% in Q1 2016 alone (depending on geography), the merchant solar market is ripe…

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Employee Spotlight: James Machulak

At Sol Systems, our team is the foundation of our continued success. With nearly sixty full-time staff and counting, our talented team of industry professionals have brought creative financing solutions to the solar industry for the past eight years. Giving our clients, partners, and growing staff a chance to get acquainted with the Sol family,…

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SOURCE: The Sol Project Finance Journal, May 2016

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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The Elephant in the Room

Without a doubt, the solar industry has been rocked these last few months. We’ve shied away from discussing the headlines, but it’s time we address the effects on the marketplace. Developers are adjusting return expectations. Projects have re-entered the marketplace, and as such, terms must be renegotiated. Developers must readjust their expectations for what their…

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Why SREC Forecasts Are Stronger Than You Think

The value of solar renewable energy credits (SRECs), by nature, is designed to decline over time as the cost of solar declines. SREC markets – markets generally with a solar carve-out in their renewable portfolio standard (RPS) – are governed by the laws of supply, demand, and the alternative compliance payment (ACP). While the ACP…

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