Blog

PACE loans for REITS

April 10th, 2013

Even while waiting for IRS rules changes on financing solar projects, some REITs are tapping emerging PACE loan programs to secure long-term debt financing for energy efficiency projects for their properties.  See: http://www.bloomberg.com/news/2013-04-07/sewer-bonds-now-saving-power-as-simon-property-uses-pace.html  The PACE programs can be used also for solar.  Look for commercial property owners and, eventually, REITs to consider debt financing via PACE programs where they have the tax appetite, but prefer to… Read more »

Speeding solar interconnections

February 7th, 2013

Renew Grid reports that Hawaiian Electric Company (HECO) is considering a new way to reduce interconnection delays for distributed solar projects. Rather than studying each PV project that requests interconnection (a common approach at high penetration levels), HECO will preemptively forecast the solar generation expected to come online during specified planning periods. As HECO develops their PV forecasts, they will… Read more »

Solar REIT press coverage expands

January 31st, 2013

More analyses are appearing in the trade and general press about enabling REITs to invest in solar projects.  Solar REITs occupy page one of the Business section in today’s New York Times.  Last week, Bloomberg & Renewable Energy World noted that the Internal Revenue Service is considering allowing a start-up solar REIT in California to commence operations.  A speaker at… Read more »

Financing on-site solar: CT’s C-PACE program

January 25th, 2013

Connecticut’s Clean Energy Finance & Investment Authority (CEFIA) held its official roll-out of its PACE financing program yesterday.  Since the passage of enabling legislation last year, CEFIA has been crafting the details.   C-PACE offers a simpler and cheaper path for financing solar projects for commercial and industrial properties.  Essentially, long-term loans paid back via the building owner’s property tax… Read more »

A solar REIT deal, but not a template

January 24th, 2013

There’s much talk about solar REITs.  The True North project in Massachusetts now is an early example.  An important caveat, however.  The REIT only bought the land, not the solar farm.  Until the IRS changes the rules, REITs still are not able to invest directly in the projects.