Leasing to make solar power affordable
Posted on: March 31st, 2008 by Emma YoungLeasing to make solar power affordable
Solarcentury, a solar supplier in the United Kingdom has unveiled a new solar power leasing package that is suited for public sector organisations and charity organisations. Solarcentury is doing this with the aim of lowering the financial burden of upfront capital investment that is usually required to acquire solar power generation equipment.
The leasing package by Solarcentury offers easy access to the government’s Low Carbon Buildings Programmes which provides up to fifty per cent grant financing for solar photovoltaic panels set up on charity organisation of public sector premises be it as part of refurbishments or entirely new construction.
Together with the Low Carbon Buildings Programmes, the leasing agreement by Solarcentury lets qualifying organisations stretch the solar power installation payments in a period ranging between three and five years.
Similar programmes with the goal of making photovoltaic technology less expensive to organisations exists in the United States. Solar power providers in the US are taking on the cost of the installation of the solar panel and providing solar electricity in an initiative called ‘Power-Purchase Agreements’.
Thus solar power firms such as SunPower and SunEdison through the power-purchase agreements install solar photovoltaic panels for their customers in exchange for payment based on the output of the electricity. This is at a cheaper price than would be charged by a normal supplier.
Commercial banks such as Wells Fargo, Goldman Sachs and MMA Renewable Ventures are also funding the purchase and installation of solar photovoltaic panels. Goldman Sachs for instance has disclosed financing solar power projects to the tune of three hundred million dollars.
www.solarcentury.co.uk
