Two solar companies have teamed up to offer homes and businesses in the Mid-Atlantic region more options for switching to solar power.
Maryland-based solar installer Standard Solar, Inc., has partnered with DC-based solar financing and development firm Sol Systems to provide new financing programs for solar panels.
The companies said it will allow Standard Solar commercial, government and residential customers take advantage of the solar renewable energy credits (SREC) system to allow a more affordable switch to solar power.
SRECs are incentives that are paid out for each unit of electricity generated by a solar power system, and could be worth up to 30% of the payback for a solar power system.
The new partnership will allow customers to sell 10 years’ worth of their credits to Sol Systems for an upfront lump sum to help with start-up costs.
Alternatively, customers are being offered an option to lock in the current SREC rate, receiving quarterly payments as their solar energy is generated.
“Affordable”
Standard Solar President Scott Wiater said: “This partnership will go a long way for our current and future customers,” said “Not only will it help businesses and homeowners significantly cut costs of their solar energy systems, but it will help those considering solar energy to realize that alternative energy is an affordable solution.”
“We are excited to work with Standard Solar, an installer with one of the best reputations in the Mid-Atlantic region,” said Sol Systems CEO Yuri Horwitz. “The partnership will extend our solar financing services to hundreds of homeowners and businesses and give them easy, economical ways to invest in solar.”
Customers in the Washington DC area can also opt for the Sol Lease program, which allows homeowners, schools, churches, businesses and non-profits to switch to solar energy without upfront costs, paying a fixed monthly lease payment for their power over a 10 year program.
The pilot program was launched earlier this month (see this BrighterEnergy.org story), and if successful would be expanded to other areas outside the capital.
The original article can be found here.