As we reflect on the year, our team took a moment to examine the articles that sparked the most interest from our network. Topics range from new incentive programs in traditional solar states like California, emerging markets such as Rhode Island and New York, and the possible impacts of federal changes on the solar landscape.
In 2014, our team will continue to provide our network of solar energy system owners, developers, and investors with engaging, informative articles to help with their solar financing needs.
Here were our top 5 most popular blogs as per our readership:
Sol Systems examined the impact of the American Taxpayer Relief Act of 2012 257-167 on the solar industry. Notable effects included: extension of the 50% accelerated bonus to qualifying solar projects placed in service before January 1, 2014; and continued fiscal uncertainty that could threaten the supply of tax equity in 2013.
This piece detailed National Grid’s announcement of the 2013 enrollment and pricing schedule for the Rhode Island FiT program, or Distributed Generation Standard Contracts. National Grid calls for more than 5 MW of solar PV by the end of 2013. Three rounds of open enrollment have been completed so far with about 4 MW of contracts executed. 2012 was also a successful year for Rhode Island’s feed-in tariff, and Sol Systems recently facilitated financing for 2.8 MW in this program.
The Los Angeles Department of Water and Power (LADWP) Board of Commissioners approved a 100 MW FiT program in January. Our team noted that there were both questions and concerns about whether the program would perform well, and as the year closes, we still have some questions as to the success of this FiT.
New York has made great leaps to become one of the next “hot” solar markets. The Long Island Power Authority (LIPA) FiT program and the NY-Sun Competitive PV Program were both introduced, and LIPA II calls for an additional 100 MW of solar capacity. This iteration of the program will be accepting bids until January 31, 2014. Sol Systems also hosted a webinar on the New York solar market in early 2013, and a recording can be viewed on our website.
On March 4, 2013, the Treasury Department released a “Message of Sequestration” explaining that 1603 cash grants awarded under the American Recovery and Reinvestment Act of 2013 were being reduced by 8.7% due to sequestration. As we explained, “the date on which the Treasury issues the ‘Section 1603 Award Letter’ to an applicant determines whether or not the grant amount is affected,” increasing uncertainty for investors.
About Sol Systems
Sol Systems is a boutique financial services firm that offers investor clients direct access to the renewable energy asset class and provides developers with sophisticated project financing solutions. Founded in 2008, Sol Systems focuses on meeting the most critical needs of the industry, including SREC monetization, capital placement, tax equity, and New Market Tax Credits. To date, the company has arranged financing for thousands of projects and facilitated hundreds of millions in investment on behalf of Fortune 100 companies, private equity, family offices and individuals.
For more information please visit www.solsystemscompany.com.