SOURCE: The Sol Project Finance Journal, December 2015

15 Dec 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 from the December 2015 edition.  To receive future Journals, please email


The following statistics represent some high-quality solar projects and portfolios that we are actively reviewing for investment.




Illinois – Pricing came in higher than expected for the latest iteration of the Illinois SREC procurement program. Pricing was especially high for solar projects 500kW – 2MW range, coming in $137/SREC, which is close to Maryland SREC pricing. Sol Systems won a number of contracts in the last two rounds, and will be submitting on behalf of interested developers and system owners again for the $15 million March procurement. Need help with your Illinois SREC submissions? Contact to get started today.

New York – Efforts to improve the Megawatt Block program are ongoing (refresher in Greentech Media or our November SOURCE). Have you looked at the Megawatt Block program for commercial and industrial solar? NYSERDA wants to hear from any companies operating in New York. Contact Dr. Ravi Tetambe in Albany by email at or by phone at 518-862-1090 x3110 to share your assessment of project economics in the MW Block Program.

Texas – ONCOR will open the next round of its Commercial Solar Incentive Program to applicants on January 11. Last year, the $4.2 million was claimed in a matter of seconds and allocated to only 12 projects. This year, the budget has increased to $7.6 million, and ONCOR is hoping that the increased budget – as well as tweaks to design – will make the distribution of funds more equitable. There will be two categories in 2016: one for projects under 100kW, and another category for projects over 100kW. Outside of this small pocket of commercial and industrial (C&I) growth in Texas, the Lone Star State is also a place where large utility-scale projects are selling into the wholesale market.


  • Congress has until this week to pass an extension to the solar investment tax credit (ITC) or add commence construction language. Have you contacted your congressmen yet to voice your support?
  • Many developers are buying modules now to mitigate risk as the industry races to place projects in service by December 31, 2016. Are you?
  • Minnesota’s Department of Commerce has announced the 2016 “Made in Minnesota” solar PV incentive levels. Applications will be accepted between January 1 and February 28.
  • Property taxes are stifling the growth of Georgia and South Carolina’s emerging commercial and industrial (C&I) solar markets


Sol Systems is a solar energy finance and investment firm. The company has facilitated financing for over 375MW of  solar projects on behalf of Fortune 100 corporations, insurance companies, utilities, banks, family offices, and individuals. Sol Systems provides secure, sustainable investment opportunities to investor clients, and sophisticated project financing solutions to developers. The company’s tailored financial services range from tax structured investments and project acquisition, to debt financing and SREC portfolio management. Inc. Magazine named Sol Systems on its annual Inc. 500 list of the nation’s fastest-growing private companies for a second consecutive year, ranking it No. 6 in the nation’s top solar companies in 2014. For more information, please visit

Print Page


Sara Rafalson

Sara Rafalson