Sol Systems Finances SunPower Residential Solar Portfolio with New Tax Equity

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Sol Systems successfully finances a residential solar portfolio for SunPower. The investment will fund over a thousand solar energy systems for homeowners across the northeastern and southwestern United States. The SunPower portfolio marks Sol System’s first tax equity transaction with a portfolio of residential solar energy systems.

 

Sol Systems has successfully financed a residential solar portfolio for SunPower. The investment will fund over a thousand solar energy systems for homeowners across the northeastern and southwestern United States. The SunPower portfolio marks Sol System’s first tax equity transaction with a portfolio of residential solar energy systems.

Solar panel costs have decreased significantly in recent years, and solar project investments have exploded. However, there remains a shortage of investors who are able to take advantage of the tax credits associated with solar energy system ownership. In recognition of this issue, Sol Systems has devoted itself to bringing new tax equity investors to the solar asset class. Sol Systems has provided tax equity financing for over $100 million in solar projects in 2013, and expects to provide tax equity financing for $200-250 million in 2014.

Yuri Horwitz, CEO of Sol Systems, commented: “This is groundbreaking work, and we are honored to be working with SunPower’s talented team. They have a reputation for excellence and technological integrity that we think is critical for the industry. We look forward to continued collaboration.”