SOLAR CAPITAL LEASE – 100% Project financing. No Capital Investment

SOLAR CAPITAL LEASE – 100% Project Financing

NEWS – FOR IMMEDIATE RELEASE

Date: April 13, 2013

Charleston, SC. – Solar Capital Leasing has recently introduced the Capital Equipment Lease that provides for 100% project financing for renewable energy projects in excess of $250,000. According to David Weiler, CEO, Solar Capital Leasing “this lease offers a unique and proprietary financing solution for municipalities, schools, non-profits, government and companies having an interest in developing multiple solar power installations in the small (50 kW) to medium (1 MW) size range”.

The funding program is available to qualified projects in selected markets including Georgia, Massachusetts, Connecticut, New York, New Jersey, Rhode Island, District of Columbia, Maryland, Delaware, North Carolina and Tennessee. Apply Online.

The Solar Capital Lease is underwritten by US based Fortune 500 companies having extensive experience in financing renewable energy projects in the US and selected Internationally markets (Canada, Caribbean). The program provides both the construction and take-out financing for terms up to 30 years and at competitive rates i.e. 3.5% – 5% range depending on the credit worthiness of the project host.

Program Features:

  • 100% financing of renewable energy project costs
  • Transactions of $250, 000 with no upper limit
  • Construction and take-out financing for terms of 8 to 30 years depending on the project
  • Roof-top and ground mounted systems
  • Small to Medium sized Municipal and School projects may be accommodated
  • Tax benefits, depreciation, stay with the project developer
  • Investment grade entity in the structure

Prior to the introduction of the Solar Capital Lease project developers commonly found project  financing difficult due to a number of factors.

Mr. Weiler stated “Renewable energy projects are a unique asset where the future market value of the underlying asset collateral is difficult to establish and cash flows are difficult to confirm.  Additionally project developers often lack access to equity funds i.e. skin in the game to satisfy the bank and lenders can only offer high coupon rates and limited amortization terms which puts additional economic pressure on the business case of the project”.

THE SOLAR SMART APPROACH

Commercial banks do not typically provide a viable source of project funding due to their attachment to long-standing underwriting practices of focusing on the value of the underlying asset, imposition of debt coverage ratios and demand for developer equity in the capital stack.

Project financing has typically been combined with some component of debt financing and private investor equity contribution, with the private investor’s motives driven primarily by tax-related benefits. The repetitive need to obtain and package Bank debt with private investor capital for each project has proven to be a significant impediment to the ability of the developer to fund new projects.

In light of these challenges, the team looked to practices already long in-place in the commercial property structured financing markets to provide a solution.

The approach relies on the credit quality of the project income stream, with virtually no emphasis on the nature of the renewable energy technology or physical assets. Solar Capital will provide 100% project cost debt financing, with extended amortizations out to 25 or even 30 years.

Finally; the Solar Capital Fund does not seek to obtain any portion of project tax benefits. This allows the project developer to capture, or barter, these benefits to their own gain.

In summary – the Solar Capital Lease Program is driven by the credit quality of the transaction lessee and transactional documents that provide bond investors with default protection.

For more information contact:

Media

Solar Capital Leasing

Email: info@solarcapitalleasing.com

Tel: 843-576-0112 x 121

www.SolarCapitalLease.com

Solar Capital Leasing 

Solar Capital Leasing is a financial services and project development company providing renewable energy solutions through photovoltaic (“PV”), solar thermal and wind technologies.

The company levers its energy knowledge expertise, investment banking expertise and procurement processes to help business, municipalities, schools, non-profits and government maximize energy savings and reduce carbon emissions.

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SOLAR CAPITAL LEASE – 100% project funding, No Capital Investment

NEWS – FOR IMMEDIATE RELEASE
Dated:  April 16, 2013
installeryelloehat
EMPOWER Solar Lease
Provides 100% project financing for small to medium commercial solar installations. No Capital Required.

Charleston, SC. – The EMPOWER Solar Lease has recently been introduced to provide a low cost financial solution to installing small-to-medium sized solar systems. Under the program the equipment lease will provide 100% project financing for roof-top or ground systems that range in size from 50 kW to 1 MW. The program is expected to be of particular interest to large manufacturers wishing to “go green” and other companies interested in finding a new source of revenue or means to reduce their present energy costs.

“The EMPOWER lease program has`a significant competitive advantage over other lease structures” according to Peter Rundle, President, Solar Capital Leasing.  “The lease allows us to monetizing the 30% Federal Tax Credit and depreciation which is applied directly to the loan amount. Often this will have the direct result of lowering the loan amount by 40% or more.

Program Benefits
GreenCheck No Capital Cost to Install Solar System
There are no costs associated with the installation or
operation of the system for the twenty (20+) life of the system .
GreenCheck No Operating or Maintainance Expenses
– Selected Solar Installation company will train the host’s staff to operate and maintain the system after the first year.
GreenCheck The host receives all the income from power purchase agreement and any renewable energy credits for the life of the system.
GreenCheck Purchase Option to buy the System
– The agreement will offer the host options regarding the system
including removal of the system at no expense, lease the system,
maintain the current arrangement or purchase the system at a reduced
price.
GreenCheck Contribute to Energy Independence & Reduce Harmful Emissions
– Renewable energy alternatives, such as solar, reduce our dependence
on foreign oil and greatly help to reduce the dangerous gases that lead to global warming.

Download a EMPOWER Solar Lease Brochure or apply here.

Contact Media

Solar Capital Leasing
Email: info@solarcapitalleasing.com

Tel: 843-576-0112 x 121

www.solarcapitalleasing.com

Solar Capital Leasing

Solar Capital Leasing is a professional services and project development company providing renewable energy solutions through photovoltaic (“PV”), solar thermal and wind technologies.

The company levers its energy knowledge expertise, investment banking expertise and
procurement processes to help business, schools, non-profits, and municipalities maximize energy savings and reduce
emissions.

SOLAR FINANCING PROGRAM ANNOUNCED

NEWS – FOR IMMEDIATE RELEASE

January 13, 2013
Charleston, SC. – Greener Product LLC. has recently introduced the Solar Capital Fund that provides for 100% project financing for renewable energy projects in excess of $5,000,000. The Solar team offers unique and proprietary financing solutions for project developers seeking financing for municipalities, schools, non-profits, government and companies having an interest in developing multiple solar power installations in the small (50 kW) to medium (1 MW) size range. The funding program is available to qualified projects in selected markets including Massachusetts, Connecticut, New York, New Jersey, Rhode Island, District of Columbia, Maryland, Delaware, Georgia, North Carolina and Tennessee.
The Solar Capital Fund is underwritten by US based Fortune 500 companies having extensive experience in financing renewable energy projects in the US and selected Internationally markets (Canada, Caribbean). The program provides both the construction and take-out financing for terms up to 30 years and at competitive rates i.e. 4% – 5% range depending on the credit worthiness of the project host.

Program Features:
100% financing of renewable energy project costs
• Transactions of $5 million with no upper limit
• Construction and take-out financing for terms up to 30 years
• Roof-top and ground mounted systems
• Small to Medium sized Municipal and School projects may be accommodated
• Tax benefits, depreciation, stay with the project developer
• Investment grade entity in the structure

Prior to the introduction of the Solar Capital Fund project developers commonly found project financing difficult due to a number of factors.
“Renewable energy projects are a unique asset” according to a Greener Product spokesman “where the future market value of the underlying asset collateral is difficult to establish and cash flows are difficult to project due to uncertain power production and the resultant revenue. Additionally project developers often lack access to equity funds “skin in the game” to satisfy the bank and lenders can only offer high coupon rates and limited amortization terms which puts additional economic pressure on the business case of the project.

THE SOLAR SMART SOLUTION
Commercial banks do not typically provide a viable source of project funding due to their attachment to long-standing underwriting practices of focusing on the value of the underlying asset, imposition of debt coverage ratios and demand for developer equity in the capital stack.
Project financing has typically been combined with some component of debt financing and private investor equity contribution, with the private investor’s motives driven primarily by tax-related benefits. The repetitive need to obtain and package Bank debt with private investor capital for each project has proven to be a significant impediment to the ability of the developer to fund new projects.
In light of these challenges, the team looked to practices already long in-place in the commercial property structured financing markets to provide a solution.
The approach relies on the credit quality of the project income stream, with virtually no emphasis on the nature of the renewable energy technology or physical assets. Solar Capital will provide 100% project cost debt financing, with extended amortizations out to 25 or even 30 years.
Finally; the Solar Capital Fund does not seek to obtain any portion of project tax benefits. This allows the project developer to capture, or barter, these benefits to their own gain.
In summary – the Solar Capital Fund Program is driven by the credit quality of the transaction lessee and transactional documents that provide bond investors with default protection.

For more information contact:
Media
Solar Capital.
Email: info@solarsmartcapital.com
Tel: 843-576-0112 x 121
http://www.SolarSmartCapital.com

Greener Product LLC. Dba Solar Capital
Solar Capital is a financial services and project development company providing renewable energy solutions through photovoltaic (“PV”), solar thermal and wind technologies. The company levers its energy knowledge expertise, investment banking expertise and procurement processes to help municipalities, schools, non-profits, government and businesses maximize energy savings and reduce carbon emissions.

SOLARSMART Program Expands Into New York, Connecticut & New Jersy

Untitled Document

NEWS –
FOR IMMEDIATE RELEASE
March 22, 2012
 
SOLARSMART Program Expands – A No-Cost Solar System to Homeowners and Business in Connecticut, New York & New Jersey

Charleston, SC. – The SOLARSMART program has recently been introduced in the Northeast (Connecticut, New York and New Jersey. The program provides for the installation of a solar system at no-cost to the host, where participants can earn future revenue from $1500 to $20,000 per year guaranteed for twenty years.

Greener Product LLC, an industry leading solar installation company, is expanding the SOLARSMART program which was first introduced in the Southeast in January 2012. The program provides homeowners, real estate developments, businesses, non-profits, schools and municipalities an opportunity to install solar systems and expand the use of renewable energy.

Under the program Greener Product LLC will lease space to install a solar system on the applicant’s (host) roof-top or vacant land.. There is no cost of the installation to the participant and during the term of the twenty year lease the host will receive a share of the revenue generated by the system. In addition the host will receive$1000.00 once the system is in full operation.

“The requirements to qualify are very basic” stated Peter Rundle, President, Greener Product. LLC. “Applicants need to have a structurally sound roof-top or available land to install the system, have an interest in leasing for twenty years and the property has to be free of shade “. The program will be of interest to businesses and homeowners who have an interest in renewable energy and at the same time want to generate revenue from their property” according to Rundle. Apply Here.

Program Benefits
No Capital Cost to Install Solar System – There are no costs to the host associated with the installation or operation of the system for the twenty (20) year term. Additionally there isn’t any need to insure the system since this is the responsibility of Greener Product LLC.
LogoGreen
Greener Product LLC Operates and Maintains System – Once Greener Product has evaluated and accepted the site into the program all the design, building of the solar array, operation and maintenance is done by Greener Product LLC.
LogoGreen
Receive $1000 Immediately upon System Activation – After the system has been installed and the local utility has energized the system the host will receive an immediate payment of $1000. This one-time payment is in addition to the "shared revenue’ payments.
LogoGreen
Share in the System’s Revenue for 20 years – Under the program the host will receive regular payments for participating in the program. These payments are guaranteed for next 20 years.
LogoGreen
Purchase Option to buy the System – The agreement will offer the host options regarding the system including removal of the system at no expense, lease the system, maintain the current arrangement or purchase the system at a reduced price.
LogoGreen
Contribute to Energy Independence & Reduce Harmful Emissions – Renewable energy alternatives, such as solar, reduce our dependence on foreign oil and greatly help to reduce the dangerous carbon monoxide gases that lead to global warming.

Download a SOLARSMART Brochure or complete an application

Contact Media

Greener Product LLC
Email: info@greenerproduct.com
Tel: 843-576-0112 x 121
www.GreenerProduct.com

Greener Product LLC
Greener Product is a professional services and project development company providing renewable energy solutions through photovoltaic (“PV”), solar thermal and wind technologies. The company levers its energy knowledge expertise, investment banking expertise and procurement processes to help homeowners, schools, non-profits, municipalities and businesses maximize energy savings and reduce emissions.

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Brazil Introduces Tax Breaks for Large-Scale SOLAR Projects

New Hampshire, USA — Brazil has long been a leader in the production of ethanol. In the past few years, it has laid the groundwork to becoming an international force in wind energy. But the country has been a non-player in the solar industry with just one 1 MW solar project under its belt. Now, the state government appears to be ready to make a major investment in the solar industry.

According to Bloomberg News, Brazil’s state-run energy agency is set to introduce two significant policies that would allow utilities to receive tax breaks for large-scale projects and would let businesses and consumers sell electricity back into the grid.

“Brazil is supporting solar a lot,” agency official Ivan Marques de Toledo Camargohe told reporters at a news conference. “We’re clarifying the rules. The market will determine how much solar energy will be developed.”

The nation has already indicated that solar will be a major component of the World Cup soccer tournament in 2014, with large installations powering stadiums across the country.


 

US Federal Fossil Fuel Subsidies Identified at $72.5 Billion

Fossil Fuel Subsidy Frequently Asked Questions:

What is a fossil fuel subsidy?
A fossil fuel subsidy is any government action that lowers the cost of fossil fuel energy production, raises the price received by energy producers or lowers the price paid by energy consumers. There are a lot of activities under this simple definition—tax breaks and giveaways, but also loans at favorable rates, price controls, purchase requirements and a whole lot of other things.

How much money does the U.S. government give oil, gas and coal companies?
Estimates of the value of U.S. federal subsidies to the domestic oil and gas industry alone (not coal) range from “only” $4 billion a year, to an amazing $41 billion annually.   One recent comprehensive study of U.S. energy subsidies (see graph below) identified $72.5 billion in federal subsidies for fossil fuels between 2002-2008, or just over $10 billion annually. For more information on the range of subsidies, see below.

Whatever the number, it seems ludicrous that any of our tax dollars would support such established and profitable industries. These energy subsidies are completely out of step with a nation that now broadly accepts the need to end our collective “oil addiction.”

What are the benefits from removing fossil fuel subsidies?
One of the most obvious benefits of ending fossil fuel subsidies is increasing the availability of public money.  Additionally, ending excessive and wasteful support for fossil fuels would reduce greenhouse gas emissions that lead to global warming.

The money saved from fossil fuel subsidies could be used to promote clean energy and energy efficiency alternatives, which would be in line with public opinion. A 2010 poll by Stanford University found public support for government action to increase clean energy and energy efficiency. The poll found that 84 percent are in favor of giving companies tax breaks to produce more electricity from water, wind, and solar power; 81 percent want more fuel efficient cars that use less gasoline; 80 percent want more appliances that use less electricity; and 80 percent want more home and office buildings that require less energy to heat and cool.

What is the U.S. government doing to end fossil fuel subsidies?
For the last several years, President Obama has proposed eliminating $4 billion in oil and gas subsidies from the U.S. budget. While these are not all the subsidies that this mature and very profitable industry enjoys, they are some of the most obvious.  But Congress hasn’t yet approved President Obama’s budget cuts.

Fossil fuel subsidies have come up in Congress – and rightly so! – in discussions of ways to cut government expenditures in order to balance the budget. In the spring of 2011, there was a push by some legislators to remove subsidies that target only the major oil companies – in particular, the “Big Five” (BP, Exxon, Chevron, Shell, ConocoPhillips). While this would end some of the oil subsidies, it would unfortunately exclude a number of huge companies such as Valero, Koch Industries, Occidental, Anadarko, Amerada Hess, Marathon, Murphy Oil and a number of more diversified energy companies that also produce large quantities of the nation’s oil and gas.

In the fall of 2011, there was some hope that fossil fuel subsidy reduction could be included in the Super Committee’s proposal to Congress for $1.5 trillion in deficit-reduction measures over the next ten years. There was support in Congress for this: In an October letter to the Super Committee, 36 House Democrats urged the committee to end subsidies to the fossil fuel industry that would save up to $122 billion over the next ten years.

But in the end, it proved to be an uphill battle to get the Super Committee to take a stand on fossil fuel subsidies – and perhaps that’s not so surprising, given the influence of fossil fuel industry money on the Super Committee. Eight Super Committee members received over $300,000 in contributions from the fossil fuel industry since 1999: Senators Baucus (D-MT), Kyl (R-AZ), Portman (R-OH), and Toomey (R-PA), and Representatives Camp (R-MI), Clyburn (D-SC), Hensarling (R-TX), and Upton (R-MI).

Is there any reason to be concerned about removing fossil fuel subsidies?
Calls for subsidy removal tend to be answered by the oil industry and their allies with dire predictions of falling domestic production, loss of jobs, and rising gas prices.  But the reality is that removing fossil fuel subsidies (which the industry deceptively calls new taxes) will have little to no impact on domestic production, jobs, or prices at the pump.

According to the Treasury Department, removing the domestic subsidies as proposed in the President’s budget would reduce U.S. oil production less than one half of one percent, and will increase exploration and production costs less than two percent. Considering the price that the domestic industry receives for crude has more than doubled over the past several years, the industry can afford that – without laying anyone off or jacking up the price at the pump.

The global oil market, not the domestic industry, determines gas prices.  Treasury estimates that subsidy removal would cause a loss of less than one tenth of one percent in global oil supply, and thus would have no impact on global or U.S. prices.

U.S. reliance on foreign oil has been a fact since the 1970s, and no amount of additional drilling or subsidies is going to change that. The only way to end our reliance on foreign oil is to end our dependence on all oil.

How come there’s such a big range in estimates of fossil fuel subsidies?
First, accounting methods and exact definitions of subsidies vary. Second, while environmental and consumer groups tend to calculate the total amount of revenue to the American taxpayer that these subsidies cost, others note that “many subsidies have a higher value to recipients than their direct cost to the government.” In other words, the higher values are more indicative of the corporate welfare given to the already highly profitable oil industry annually, while the more conservative figures are a better estimate of how much the elimination of these subsidies would save the U.S. taxpayer.

Finally, some of the highest estimates include a portion of defense spending (more info on defense subsidies to oil here and here). It should be noted that while the estimate of $41 billion in oil and gas subsidies annually does include some of the cost of U.S. military “defense” of the Persian Gulf region, it does not specifically incorporate any increase in defense spending relating to Iraq, or any quantification of the environmental externalities associated with oil. And none of the amounts cited include fossil fuel subsidies in the form of international aid, which is explained in greater detail below

Competition Heats Up for Solar Installers

By Travis Hoium, The Motley Fool Posted 2:59PM 01/30/12 Investing

To become a truly affordable option for homeowners and commercial properties around the U.S., an infrastructure of installers needs to be built to provide the services needed. Once that is done, the installation process can be streamlined, paperwork will be reduced, and utilities will be able to handle the new distributed power sources going up around the country.

Progress has been taking place at a slow and steady pace in recent years, but it may begin to accelerate now that module costs have fallen to new record lows.

Compacting a fragmented market
Right now, there are thousands of tiny companies involved in the installation of solar power. According to GTM Research, the largest three residential solar installers control just 44% of the market nationwide. And most of that is condensed in a few states like California and Arizona.

The biggest residential solar installer, Solar City, commands just 14% of the market, but like others has used acquisitions to expand its presence in recent years. As these installers begin to compete on a larger stage the pressure and ability to reduce costs will increase, leading to lower costs for consumers. So will the awareness of solar power as an option for customers.

On the manufacturer side, this will mean larger purchases from installers and a smaller set of preferred suppliers. In Hawaii, where solar has already reached grid parity, some solar installers are touting high-efficiency modules as a way to get the most bang for their solar dollar.

RevoluSun is reportedly the first company to offer SunPower‘s (NAS: SPWR) E20 series 437 solar panels to the North American market, opening a potentially lucrative space to the company. Sunetric is using the Suniva Optimus module to push efficiency to a new level.

Solar leases play a big role
Banks are also beginning to play a big role in the expansion of solar in the U.S. Wells Fargo (NYS: WFC) created another $100 million fund last week, this time for Enfinity NV‘s North American unit to finance commercial-scale projects. The bank has created other funds for MEMC‘s (NYS: WFR) SunEdison subsidiary, SunPower, and GCL-Poly.

Solar leases from companies like SunRun and SolarCity are making it easier and more affordable to bring solar to the masses.

What to do about it
Without a national standard for how homeowners and commercial properties will be paid for solar power, the role of the solar installer increases. Expanded residential installations will also put increased importance on efficiency. Since the module is less than half of the cost of a residential installation, the power output becomes more important. That gives an advantage to companies focused on efficiency and cutting balance of system costs, like Canadian Solar (NAS: CSIQ) and SunPower.

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See full article from DailyFinance: http://srph.it/zC9ujK