The folks over at Clean Power Finance sent us this press release earlier today indicating an expansion of their residential solar financing product to new markets. This is indeed good news as residential solar financing is an important enabler for making solar more affordable for more customers. With low money down or no money down down options becoming more widely available, and with more choice than ever before, potential solar customers can now get clean, long term energy right from their rooftop, without big upfront costs.
Here at GetSolar just about every conversation we have with homeowners involves a discussion around solar financing options; be it leasing, power purchase agreement, loan, home equity line, cash, you name it. Residential Leases and Power Purchase Agreements (PPA’s) have driven some 30% of California solar installations in the last year, and for good reason. For many customers, they can start saving on their electric bills right away, while keeping more cash in their pocket for other expenses. We welcome additional financing choices in these markets, as it helps our partner installers offer creative solutions to residential solar customers, allowing them to save money on their utility bills while helping America strengthen its energy future.
Rhone Resch, President and CEO of the Solar Energy Industries Association (SEIA) sent us an email today talking about the Solyndra hearings taking place on Capital Hill. Apparently the company (Solyndra) is not providing much information on their situation, which has led to a partial information vacuum during the hearings around the current state of solar in the United States. With the media machine buzzing and looking for sound bites in a politically charged environment (GetSolar’s opinion), surrounding a high-profile clean-tech failure, the SEIA is making all effort to set the record straight about solar in the US.
After taking on a billion dollars of private venture capital, and a further half billion dollars in Federal loan guarantees, Solyndra finds (among other things that will surely come to light in the investigations) that it no longer has a cost competitive solar product in today’s much lower-cost solar market. In an effort to dispel various solar technology myths the SEIA has published several of the most prevalent myths, which we have re-published here for your reading. Rhone Resch was on C-SPAN this morning (see video below), providing additional background information about Solyndra and solar in the US.
MYTH #1: There are no jobs created by the solar industry FACT: Today, the solar industry employs more than 100,000 Americans, double the amount of solar workers in 2009. They work at more than 5,000 companies, the vast majority being small businesses, in all 50 states. The industry grew by 69 percent in the past year, making it one of the fastest growing sectors in the U.S. economy.
MYTH #2: Solar only works in states like California. FACT: Solar energy works in all 50 states. Germany has more installed solar capacity than any other country and it receives roughly the same amount of sunshine as Alaska. Less than one-third of the photovoltaic (PV) capacity installed in the U.S. in the second quarter of 2011 was installed in California. In fact, more PV was installed on commercial buildings in New Jersey than in California during that quarter.
MYTH #3: The market for solar energy is very small. FACT: The U.S. solar energy market is big and growing fast. In 2010 alone, $6 billion worth of finished solar energy systems were installed in the U.S. The U.S. solar energy market grew 69 percent in the second quarter of 2011, helping aid our economic recovery. In fact, many analysts project that the U.S. will become the largest solar market in the world in the next few years.
MYTH #4: Solar energy is too expensive for widespread usage. FACT: Solar energy is already cost effective in many locations across America. The price of solar modules has dropped 30 percent since the beginning of 2010 as the industry scales up and companies innovate with new products and manufacturing techniques. Also, new financing options allow homeowners and businesses to start saving money on their utility bills as soon as they turn on their solar systems.
MYTH #5: If solar power really worked, it wouldn’t need government support. FACT: The U.S. decided long ago to support energy sources since energy drives our economy. Every major energy source and technology has benefited from federal government R&D support and incentives of various types. This is true of the oil, natural gas, hydroelectric, nuclear and biofuels industries—all of which continue to receive government support today.
MYTH #6: Solar products are all made in China. FACT: The U.S. was a significant net exporter of solar products in 2010, including to China. Total U.S. exports of solar energy products was $5.6 billion, with net exports totaling $2 billion. Of the $6 billion in direct value created by U.S. solar installations in 2010, more than $4.4 billion, or 75 percent of the value, accrued to the United States.
MYTH #7: Solar devices require more energy to manufacture than they produce in their lifetime. FACT: Studies have conclusively demonstrated that energy payback for photovoltaic (PV) energy is now less than three years. Given that PV module warranties are generally in excess of 20 years, a PV system will produce far more energy over its lifetime than was consumed to manufacture it. Technological progress is reducing the energy consumption of PV manufacturing further. Energy output and input ratios for concentrating solar power (CSP) and solar water heating equipment are also favorable.
MYTH #8: Solar energy needs a technological revolution to go mainstream. FACT: Solar technologies available today already provide enough electricity to power 630,000 American homes. Solar panel prices have fallen 30 percent in the past year and a half. No scientific breakthroughs are required for solar energy to power America. Solar is ready and available today; it only needs smart and consistent policy to thrive.
From the perspective of homeowners and businesses looking to go solar, the bigger the solar rebate the better. From the perspective of the utilities and government agencies that finance those rebates, often the opposite is true.
Usually, the decided upon rebate level ends up somewhere between these two parties’ preferences.
That appears to be the case with the Los Angeles Department of Water and Power (DWP), which on Tuesday announced it will in September relaunch its solar energy rebate program at a new, lower level. Back in April, the utility suspended the program, citing record demand and dwindling coffers.
Once reopened, DWP’s solar incentive program will offer residential rebates …click here to read more
What better place to host the biggest solar energy installation at a U.S. national park than Yosemite? Tucked in a region that gets more annual sunshine than just about anywhere in the country, the California park boasts nearly perfect conditions for solar power.
Officials several days ago inaugurated the 672-kilowatt (kW) solar array, which comprises a 500-kW parking canopy for employees and visitors; a 100-kW rooftop solar array atop a warehouse; and a 72-kW wall-mounted installation (pictured above).
As we reported over a year ago, it was originally speculated that the “solar panels are expected to generate electricity at a levelized cost of about 13 cents per kilowatt hour, reducing annual electricity costs by about $104,000.” According to The Business Journal, however, those annual energy costs savings are actually projected to be closer to $50,000 — equivalent to around 12 percent of the park’s annual electricity needs.
Solar leasing is well on its way to becoming mainstream.
SunPower Corp. and Citi today announced a new fund to finance approximately $105 million in residential solar lease projects. According to the announcement, the lease program will be available to qualifying homeowners in eight states: Arizona, California, Colorado, Hawaii, Massachusetts, New Jersey, New York and Pennsylvania.
Here’s a requisite sound bite:
“Citi’s global financial leadership combined with SunPower’s leading technology and quarter century of experience offer customers an unprecedented level of assurance that is vitally important when a homeowner enters into a 20-year lease agreement,” said SunPower CFO Dennis Arriola. “We are proud to partner with Citi, and applaud its commitment to promoting the use of solar power.”
Solar leases enable homeowners to pay a monthly fee for their solar home energy system rather than buy it outright. The approach makes good financial sense in those parts of the country where …click here to read more
Ah, nothing like a mid-summer promotion… lucky for us, this one is actually pretty cool.
Sungevity, a California-based company that bankrolls the option to lease solar panels for an increasing number of Americans, is coming to five northeastern states — in an ice pop truck.
As part of the company’s Rooftop Revolution campaign, Sungevity representatives will pile into a bio-diesel-powerd ice pop truck equipped with solar panels and tour New York, New Jersey, Maryland, Massachusetts and Delaware. Destinations along the route include events like music festivals, county fairs, farmers markets and minor league baseball games.
Two other solar lease providers, SunRun and SolarCity, are already active in parts of New England and the Mid-Atlantic. …click here to read more
In light of the recent heat wave — er, heat dome — that has been blanketing the country, we thought it’d be fitting to share one of the interesting side benefits of solar panels: they can help keep your roof cool. Here’s how it works, in general terms:
Solar panels are typically installed on a rack that stands off against the roof. The resulting gap between the panels and the underlying shingles allows air to circulate around the array. This setup is good for the solar panels, which perform best in cooler temperatures. It’s also good for the roof, the ceiling and the residents inside.
It turns out that the gap and the panels create a thermal barrier that helps keep the inside of the building cool. Recently revisited by the Independent, a 2010 report confirms that buildings with rooftop solar panels are typically cooler than those without: …click here to read more
In recent years, a number of pro sports teams have seen solar panels installed at their home venues. It appears the Washington Redskins aim to join the list.
According to the Washington Post, the NFL team will soon announce plans to install solar a big energy system at FedEx Field. Composed of 8,000 solar panels, the 2-megawatt (MW) system is expected to generate enough electricity to offset the facility’s annual electricity consumption by about 15 percent. The array will also create a covered carport, featuring 10 electric-vehicle charging stations and enough spaces for 850 cars.
The Redskins organization will enlist NRG Energy, a New Jersey-based energy services company, to handle the design and installation of the project.
Speaking about the Skins’ soon-to-be-announced solar plans, David Krichavsky, the NFL’s director of media affairs, noted …click here to read more
Judging from a 2006 survey, a remarkable number of U.S. homeowners have become interested residential solar energy in recent years.
As a result, more and more U.S. homebuilders are actively building out their solar-powered home offerings. Big-name builders like Pulte Homes, Meritage Homes and KB Home have all been jockeying for top spot as the provider solar-powered, energy-efficient homes.
KB Home is the latest to notch a success.
The Los Angeles-based homebuilder yesterday announced the grand opening of a solar home community in Lancaster, California. Situated in Antelope Valley, KB Home’s Arroyo community is the first in the area to offer solar energy systems as a standard feature on all new homes.
Blessed with lots of sunshine, Arizona is a great place to install solar panels. Thanks to a pro-business climate and its close proximity to big markets, like California, the state is turning out to be a great place to make solar panels, too.
Consider that the two world’s two biggest solar panel manufacturers have Arizona-based operations: thin-film maker First Solar has long called Tempe home, while Suntech, a China-based company, opened shop in the Phoenix area last October. All told, Arizona is home to more than 100 “significant solar energy businesses,” according to PV Magazine.
The uptick in business has been welcomed. In the wake of the 2008 financial crisis and subsequent recession, many governors took up job creation as a top priority. Perhaps more than in any other state, Arizona officials have enacted policies intended to encourage renewable energy companies to set up instate operations. …click here to read more
sent us this press release earlier today indicating an expansion of their residential solar financing product to new markets. This is indeed good news as residential solar financing is an important enabler for making solar more affordable for more customers. With low money down or no money down down options becoming more widely available, and with more choice than ever before, potential solar customers can now get clean, long term energy right from their rooftop, without big upfront costs.
From the perspective of homeowners and businesses looking to go solar, the bigger the solar rebate the better. From the perspective of the utilities and government agencies that finance those rebates, often the opposite is true.
What better place to host the biggest solar energy installation at a U.S. national park than Yosemite? Tucked in a region that gets more 
In light of the recent heat wave — er, 
Judging from a 
Blessed with lots of sunshine, Arizona is a great place to install solar panels. Thanks to a pro-business climate and its close proximity to big markets, like California, the state is turning out to be a great place to make solar panels, too.
