Residents to benefit from new renewable energy financing system
Residents throughout the U.S. reported a record number of solar photovoltaic installations in 2011 as module prices declined and government incentive programs encouraged adoption of the clean energy. But when these programs expired, many in the industry were unsure which direction it would go.
But solar companies and consumers will soon experience a new financing system from Clean Power Finance (CPF), which will help residents acquire solar renewable energy credits that will allow them to buy solar systems that would have otherwise been too expensive, CleanTechnica reports.
According to the media outlet, CPF's Capital and Trading service will allow outside investors to utilize SREC programs in states that mandate strong renewable portfolio standards, such as California and New Jersey. The system would allow these investors to loan solar marketers money to perform residential installations.
"We see CPA Capital and Trading as a multi-million dollar/year opportunity over time as we buy and sell SRECs to truly create a market," said Kristian Hanelt, CPF senior vice president of renewable capital markets, adding that the program "will provide solutions to reduce the commodity exposure for our funds and financing customers."
According to the Solar Energy Industries Association, New Jersey was ranked the top state for solar installations in the first quarter of 2012.