Solar Power

Canadian Solar has chart support in place

Alternative energy stalwart Canadian Solar Inc. (NASDAQ:CSIQ) is one of the world’s largest solar technology and renewable energy companies. On April 12, the company announced that it had started the mass production of high-power, high-efficiency modules. The new generation modules are set to deliver one of the most competitive levelized cost of electricity in the industry by reducing the balance of system and other costs for solar power plants. They are reportedly set to deliver the first batch of these new high-power, high-efficiency modules this month.

On the charts, CSIQ currently sits at $43, a far cry from its Jan. 25 record high of $67.39. Despite the 16.6% pullback the last three months, the shares’ 200-day moving average is stepping up to contain the damage. Shorts have been building their positions, with short interest up 25% in the two most recent reporting periods. The 6.83 million shares sold short accounts for a healthy 14% of CSIQ’s total available float and at the stock’s average pace of trading, it would take more than three days to buy back these bearish bets.

From a fundamental perspective, buying Canadian Solar stock is one of the safer options in solar energy sector. Canadian Solar’s balance sheet has a reasonable $2.1 billion in debt, which isn’t much more than the $1.18 billion it has in cash. However, in exchange, CSIQ does not offer the best ongoing growth rate. In fiscal 2020, Canadian Solar increased revenues by 8.6% but saw a 15% decrease on its bottom-line.

Canadian Solar stock currently trades at a price-earnings ratio of 17.95, which is a fair valuable for being one of the top companies in a market with such high growth potential as the solar energy market. The key for CSIQ will be in quickly and efficiently capturing a good portion of the available market share. Overall, Canadian Solar stock is a very intriguing speculative play, especially after Canadian Solar stock’s recent pullback.

New Delhi: Foreign Direct Investment (FDI) is a sort of investment that allows an entity to have controlling ownership in a business located in another country which is a key driver of economic growth of the country. FDI institutes an essential source of non-debt finance for the economic expansion of India.

The Government of India has continuously striven to put in place an enabling and investor-friendly FDI policy from time-to-time. The underlying impulsion has constantly been to make the FDI policy more conducive for investment and eliminate the policy bottlenecks that have been thwarting the investment inflows into the country. Consequently the steps undertaken in this course have borne fruit, as is apparent from the accrescent volumes of FDI inflows being received into the country.

Measures taken by the Government on the FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country. These developing reforms in India’s Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors. FDI in India is permissible via automatic route and approval routes only excluding some areas in which FDI is absolutely prohibited i.e. lottery business, gambling and betting, chit funds, Nidhi company, real estate business, and manufacturing of cigars, cheroots, cigarillos and cigarettes using tobacco.

Recent Developments relating to India’s FDI Policy

The Ministry of Commerce and Industry revised its FDI policy vide press note no. 3 (2020 series) [1] dated April 18, 2020 by amending para 3.1.1 of extant FDI policy, intending to curb takeovers or acquisitions of Indian companies during the ongoing coronavirus pandemic. Pursuant to the amendment in FDI policy any investment by an entity of a country that shares a land border with India or where the beneficial owner of investment is a citizen of any of those countries will need government approval. Earlier, only Bangladesh and Pakistan were under this category, which has now been expanded to all neighboring countries sharing the border with India including China and Macau.

How FDI is appealed towards Solar Power Sector in India

Majority of the renewable expansion in the country has been possible with the help of attractive FDI opportunities and India’s vast scope in renewable energy sector and established achievable targets which has led to gradual increase of foreign investments in India over the previous financial years. The Government of India has set a massive target of achieving 175 GW in renewable energy capacity by end of 2022 [2], which has further been projected to achieve the target to 450 GW renewable energy capacity by 2030 [3] which makes it the world’s largest expansion plan in renewable energy. India’s present renewable energy capacity particularly concerning to solar energy is approximately 38.79 GW [4] (as of 31 January 2021).The Finance Minister in Annual Budget 2021 made favorable announcements emphasizing on the solar energy sector as part of the government’s larger focus on renewable energy, by announcing custom duty hike on solar invertors from 5 per cent to 20 per cent and solar lanterns from 5 per cent to 15 per cent, which would promote the indigenous manufacturing of solar invertors and attract the foreign players to invest in India. In Addition, the government would also notify a phased manufacturing plan for solar cells and solar panels which would pragmatically build the domestic capacity.

Key takeaways from Union Budget 2021 in relation to Solar Energy Sector [5]

a. To give boost to the country’s non-conventional energy sector, government announced infusion of funds of Rs 1,000 crore to Solar Energy Corporation of India (SECI) and Rs 1,500 crore to Indian Renewable Energy Development Agency (IREDA), this would address the key challenge of availability of funds for setting up solar plants.

b. Government has allocated around Rs 3.5 lakh crore to support the DISCOMs, which should be complimented by end-user norms, and stricter rules to revamp the existing infrastructure.

c. Privatization is also a welcome step and competition would help improve the power generation and transmission infrastructure by leaps and bounds. This would in turn necessitate low-cost power, thus boosting demand for solar parks.

d. Lowering compliance norms for small companies would help startups in the solar space. A boost in the adoption of Electric vehicles (EVs) would also compliment the need for green energy.

e. Increase in duty on imported solar inverters and lanterns would amplify India’s latest motto of “Atmanirbhar Bharat”.

These advancing steps of government of India to achieve its targets relating to renewable energy capacity would eventually attract the big foreign players to make most of the available opportunities. With the increased support of government and improved economics, the solar energy sector has become attractive from investors perspective. As India eyes to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040 [6], renewable energy is set to play an important role. No doubt, FDI is going to play a crucial role in bringing in resources such as capital and advanced technology with easy norms and FDI opportunities in Indian Renewable Energy sector. The free flow of capital would highly favor this sector and would also lead to the exploration of its growth potential.

Presently, FDI up to 100 per cent is permitted in the renewable energy sector under the automatic route, and no prior government approval is required in India subject to the provisions of The Electricity Act, 2003. The cumulative FDI equity inflow in the Non-Conventional Energy industry has been USD 9,686.09 million during the period April 2000 to September 2020. This constitutes 1.94 per cent of the total equity inflow received in all the sectors during the same period.

Reasons why solar power projects may attract foreign Investments

 The exponential economic growth, increasing prosperity, a growing rate of urbanization and rising per capita energy consumption is contributing to increasing demand for energy in the country.

 The objective of the National Solar Mission (launched in 2010) is to establish India as a global leader in solar energy. The target of National Solar Mission has been up-scaled to 100 GW from 20 GW of grid connected solar power by 2022.

 The target set by Government of India in the Paris Accord on Climate Change of achieving 175 GW of renewable power capacity by 2022, which includes 100 GW from solar, 60 GW from wind, 10 GW from biomass and 5 GW from small hydro power. This will offer massive investment opportunities across the value chain. The target has further been expanded to 450 GW by 2030.

 It is aimed to achieve 40 per cent of installed power generation capacity from non-fossil fuel sources and reduce emission intensity of GDP by 33-35 per cent from 2005 level by 2030. With the accomplishment of these ambitious targets, India will become one of the largest Green Energy producers in the world, surpassing several developed countries.

 The Government of India has provided approval to introduce the Production-Linked Incentive (PLI) Scheme in High Efficiency Solar PV Modules for Enhancing India’s Manufacturing Capabilities and Enhancing Exports under “Atmanirbhar Bharat Scheme”.

 Regulatory reforms and efforts of the government are aligned with the set targets. Thus, In order to keep a closed eye on the investment made by foreign players, the Ministry of New & Renewable Energy (MNRE) has set up a new cell in the ministry for taking care of the foreign direct investment (FDI) into the sector.

References:

1 https://dipp.gov.in/sites/default/files/pn3_2020.pdf
2 https://www.fdi.finance/sectors/renewable-energy
3 https://www.investindia.gov.in/sector/renewable-energy
4 https://www.investindia.gov.in/sector/renewable-energy
5 https://mnre.gov.in/img/documents/uploads/file_f-1612941710983.pdf
6 https://www.ibef.org/industry/renewable-energy.aspx

[This piece was jointly authored by Daizy Chawla, Senior Partner – Corporate Law, and Jatin Kapoor, Senior Associate, Singh & Associates, a full-service law firm]

City’s Generation Solar project to save taxpayers an estimated $1.5 million by 2050

The City of Boulder, in a unique partnership with Unico Solar and Madison Energy Investments, is now home to 2.1 MW of rooftop and ground-installed solar, marking the completion of the city’s Generation Solar project. This is enough to power more than 400 average American homes each year.Solar was installed on 11 city-owned sites, including parking garages, fire stations and land adjacent to the city’s Water Resource Recovery Center.

Under agreements with the City of Boulder, which requires no up-front capital or ongoing maintenance costs for the city, Madison Energy Investments and Unico Solar leased nearly 363,000 square feet of city-owned rooftop and ground area at sites across the city. The entire portfolio is expected to generate more than 80 million kWh over 20 years and demonstrates progress toward the City of Boulder’s goals to operate on 100% renewable energy by 2030. The City of Boulder purchases the solar power produced by the installations through separate purchase agreements, allowing for greater control and flexibility for the municipal buildings that use the power. The project is expected to generate an estimated $1.5 million in cumulative savings for Boulder over 30 years. The agreements will increase the city’s total solar portfolio to 6.45 MW.

“We take climate change very seriously in Boulder, which is why our City Council declared it an emergency in 2019. In addition to fighting climate change, projects like this one also demonstrate the value of local generation, which can boost our local economy and reduce costs to taxpayers,” said Yael Gichon, Energy Project Manager at the City of Boulder. “It’s a win on all fronts.”

“As a real estate investor with a long history of leadership in sustainability, Unico is uniquely aware of the impact commercial buildings have on climate change, and municipal buildings in particular are uniquely situated to help scale the use of solar as cities seek to advance their renewable energy goals,” said Adam Knoff, director and co-founder of Unico Solar. “We’re proud to announce the completion of this years-long effort with the City of Boulder to further their commitment as a renewable energy leader. The city’s dedication to local renewable energy as a way to meet their climate goals also allows them to take part in the monetary benefits of incorporating solar energy into the grid.”

About Madison Energy Investments

Madison Energy Investments is a platform that develops, constructs, owns and operates distributed generation assets within the commercial and industrial (C&I) and small utility-scale sectors. The team’s diverse experience has produced best practices across all phases of the industry from origination to asset management. Quality partnerships and the ‘execution mindset’ drive us to be the best team in the industry. To date, MEI has over 200 MW under contract across 17 states. To learn more about Madison Energy Investments, please visit madisonei.com.

About Unico Solar Investors

Unico Solar Investors is a wholly-owned subsidiary of Unico Investment Group that develops, owns, and operates solar energy systems for its own real estate portfolio and for third-party clients. Unico Solar Investors develops solar energy portfolios that provide long-term, acyclical cash flow by selling clean energy to a diversified mix of electricity consumers that include utilities, commercial and industrial buildings, and educational facilities. For more information, visit unicosolar.com.

About Namasté Solar

Since 2005, Namasté Solar has developed, designed, installed, and maintained solar electric systems for homeowners, commercial property owners, and utility-scale developers. Namasté Solar, an employee-owned Colorado Public Benefit Corporation and Certified B Corporation, also provides highly specialized solar engineering, design, and consulting services, as well as maintenance and operations for solar projects across the United States. The company is on a mission to accelerate the adoption of clean renewable energy and to prove there is a better way to do business. As a B Corp, Namaste Solar is part of a global movement using business as a force for good to solve social and environmental challenges. The company has installed more than 8,100 clean energy systems that produce over 103 megawatts combined. For more information visit: namastesolar.com

Posted: April 15, 2021

Media Contacts

Emily Sandoval, City of Boulder Media Relations, 303-441-1927

Sarah Cullen, Unico Solar, 303-931-1910

Madison Energy Investments, [email protected]

 

Construction of two large-scale solar-plus-storage projects has begun on the Hawaiian island of O’ahu, totalling 76MW of solar PV and 300MWh of battery storage, by Clearway Energy Group.

Clearway, a developer, owner and operator of renewable energy assets around the US and in the portfolio of independent infrastructure fund manager Global Infrastructure Partners said last week that ground was broken on its Mililani I Solar and Waiawa Solar Power projects after a traditional Hawaiian blessing. Construction is expected to be complete in 2022.

The company signed 20-year initial term power purchase agreements (PPAs) for the two power plants with the state’s main utility, Hawaiian Electric Company (HECO) in 2018. Mililani I will have 39MW PV capacity and a 39MW / 156MWh battery energy storage system (BESS) and Waiawa 36MW of PV paired with a 36MW / 144MWh BESS according to documents filed with the Hawaiian Public Utilities Commission.

The power plants will continue the trend of renewable assets — and increasingly hybrid resources pairing renewables with batteries — to help to reduce the island state’s reliance on expensive imported fossil fuels which can fluctuate in price, while reducing greenhouse gas (GHG) emissions and assisting Hawaii to reach its goal of achieving 100% renewable energy by 2045.

“Our ongoing focus on renewable energy in the State of Hawai‘i is key to rebuilding our local economy and improving energy reliability for a more resilient future,” state governor David Ige said.

“Thanks to Clearway and our partners, we can celebrate this major milestone together as we take another step toward our goal of 100% renewable energy by 2045.”

Clearway said the two projects represent a combined US$280 million investment and after creating more than 460 local union jobs during construction will contribute in excess of US$10 million in taxes. Construction activities are being led by Moss Solar, the solar division of infrastructure project group Moss.

Moss Solar and Clearway have already worked together on three large-scale solar projects on O’ahu totalling 110MW that were originally proposed by developer SunEdison before it went into bankruptcy. PPA deal terms were renegotiated by Clearway with HECO at a lower price and the projects went ahead, with completion of all three announced in September 2019. The project partners teamed up with the O’ahu Kamehama Schools district on those projects and have done so again for the two new ones.

As construction began last week, HECO president and CEO Scott Seu said that Clearway’s existing three projects had helped the utility achieve its 2020 renewable portfolio standard (RPS) of 35%. “Additional large projects with storage like these will help us continue to decarbonise our energy system by reducing our dependence on imported fossil fuels,” Seu said. 

Last year HECO undertook a massive renewable energy tender process, resulting in the utility submitting contracts from an auction process seeking up to 460MW / 3GWh of resources on the islands of Maui and O’ahu. The awarded contracts include a mix of solar, solar-plus-storage and standalone energy storage. The process was delayed by the COVID pandemic, but HECO began announcing winning bids in mid-2020, with developers including ENGIE EPS, Plus Power, AES Distributed Energy and HECO itself among those awarded projects.

Also on O’ahu, in September 2020, developer 174 Power Global, a subsidiary of Hanwha Group, signed a US$185 million contract for a 60MW PV plant with 240MWh of energy storage from which power will be sold to HECO under a 20-year PPA. In other recent news, HECO signed a deal with residential virtual power plant (VPP) developer Swell Energy to deploy 25MW of solar on customer rooftops paired with 80MW of home batteries across O’ahu, Maui and Hawaii Island to provide capacity to the network and absorb surplus wind and solar generation as well as providing frequency response grid services.

MIAMI (CBSMiami) – The second-largest solar roof in South Florida is capable of providing 100 percent of the energy needed for the entire building.

The roof, at Costex Tractor Parts headquarters in Miami, includes more than 3,900 solar panels, which provides a one-point six-megawatt solar array.

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Clint Sockman, vice president of Advanced Green Technologies, says it provides 100 percent of the energy needs for the building and is made to withstand the Florida weather.

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“It’s the Cadillac of roofing systems and solar arrays. We went through multiple building department permit reviews and education and it matches up with the demands here in South Florida. We have a lot of sun,” said Sockman.

Sockman says the system is designed to provide the on-site needs, but if there is an overproduction of solar energy, it will be sent out through a net-metering agreement with Florida Power & Light.

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This type of system is available for homeowners but on a much smaller scale.

Sacramento, CA, April 14, 2021 (GLOBE NEWSWIRE) — Today, Sol Systems announces the completion of solar energy systems totaling 6.5 megawatts (MW) at seven Walmart stores across California. The portfolio includes a mixture of solar energy systems installed on the rooftops and parking lot carports and offsets the average energy use of nearly 1000 homes.

The portfolio is part of an ongoing partnership and will provide power directly to Walmart stores in Burbank, Calexico, North Highlands, Perris, Placerville, Sacramento and Wasco. The portfolio was developed by Sol Customer Solutions (SCS), the development division of Sol Systems, a joint-venture with global infrastructure investment firm, Capital Dynamics. 

“These projects exemplify the leading approach Walmart is taking: catalyzing action on clean energy across the US and driving a framework for how other companies can take an aggressive, measured approach to reducing carbon emissions through direct, onsite solar energy generation,” said Andrew Grin, Associate Vice President of Sol Customer Solutions.

The projects began construction in 2020, following all necessary protocols to ensure the safety of workers during the COVID-19 pandemic. Sol Systems developed and financed more than 200 MW of solar energy in 2020.

“The installation of these solar panels on our stores in California bring us closer to our goal to supply 100 percent of our global electricity needs with renewable energy by 2035 and reinforces Walmart’s broader mission to spark collective climate action,” said Mark Vanderhelm, Vice President for Energy and Facilities Management, Walmart Inc.

Walmart set a goal last year to be a regenerative company – one that works to restore, renew and replenish in addition to preserving our planet. As part of that goal, it is targeting zero emissions by 2040 across its global operations and aims to harvest enough wind, solar, and other renewable energy sources to reach its goal of powering 100% of its facilities with renewables by 2035. Currently, 29% of Walmart’s operations worldwide are powered with renewable energy.

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About Sol Systems

Sol Systems is a leading national solar energy firm with an established reputation for integrity and reliability across its development, infrastructure and environmental commodity businesses. To date, Sol has developed and/or financed over 1 GW of solar projects valued at more than $1 billion for Fortune 100 companies, municipalities, counties, utilities, universities and schools. The company also actively shapes and trades in environmental commodity and electricity markets throughout the United States. The company was founded in 2008, is based in Washington, D.C., and is led by its founder. Sol Systems works with its team, partners, and clients to create a more sustainable future we can all believe in. For more information, visit https://www.solsystems.com/

About Capital Dynamics

Capital Dynamics is an independent global asset management firm focusing on private assets including private equity, private credit and clean energy infrastructure.

Capital Dynamics’ Clean Energy Infrastructure is one of the largest renewable energy investment managers in the world with USD 6.6 billion AUM and has one of the longest track records in the industry. The CEI strategy was established to capture attractive investment opportunities in the largest and fastest growing sector of global infrastructure – proven renewable energy technologies, primarily in North America and Europe, across solar, onshore wind, energy storage and related infrastructure with a focus on both utility-scale and distributed generation technologies. The CEI platform’s fully-integrated asset management affiliate provides highly-specialized services to ensure optimal performance and value from projects. The CEI strategy currently manages 7.9 GWdc of contracted gross power generation across more than 150 projects in the United States and Europe, and is one of the top 3 global solar PV owners.

As a sustainable asset manager, we have gone beyond standard ESG requirements by designing, implementing and trademarking the Capital Dynamics R-Eye™ Rating System – a unique, best-in-class approach to diligence and rating of each investment based on PRI principles and UN Sustainable Development Goals. Since Capital Dynamics’ Clean Energy Infrastructure platform’s inception in 2010, over 19 million metric tons of greenhouse gas emissions have been avoided as a result of the firm’s renewable investments. This is equivalent to the power needed to supply more than 3 million homes or passenger vehicles for one year.

In 2020, the CEI strategy received top rankings from GRESB (the ESG benchmark for real assets) for commitment to sustainability, and in 2019 awarded Global PE Energy Firm of the Year by Private Equity International. For more information, please visit: www.capdyn.com.

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VANCOUVER, BC / ACCESSWIRE / April 13, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT; OTC: LGLOF) (“LINK” or the “Company”), an innovative power and infrastructure solutions provider for Bitcoin mining and data hosting operations, is pleased to provide an update on its planned renewable energy Bitcoin mining operations. As previously announced, April 12, 2021, Pure Digital a joint venture between Link and Neptune Digital Assets Corp. (“Neptune”) (TSX-V:NDA; OTC:NPPTF; FSE:1NW)to create Pure Digital Power Corp. (“Pure”), have signed a Letter Of Intent (“LOI”) with a solar consultant, specializing in the adoption of renewable energy, for 20MW of power and associated carbon credits.

• Pure is committed to positioning itself as the leader in clean energy BTC mining . With an estimated 600MW of additional solar power expected to come online in early 2022 in Alberta, Pure is aggressively securing supply.
• Pure has proposed a 10 year contract at a fixed rate.
• Pure intends to have a definitive agreement by the end of April, 2021.

Operational update

• Bit Digital BTC mining machines have been installed ( previously announced March 31,2021).
• Link has received the first 2.5MW generator from Starco Fuels and is expecting another 2.5 MW generator by the end of April 2021 (Previously announced March 18, 2021).
• Link has extended the Letter Of Intent for electrical cost reducing technology IP (previously announced February 25, 2021) until April 23, 2021.

Link President and Chief Executive Officer Stephen Jenkins commented, ” The growth of solar power in Alberta will keep sustainable energy in the forefront of BTC mining. With the increased market adoption of BTC and the impending IPO of Coinbase, we see the opportunity to expand our mining operations and secure long term sustainable power.”

About Link Global Technologies Inc.

Link is engaged in providing infrastructure and operating expertise for digital mining and data hosting operations. Link’s objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power, and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services.

On behalf of Link Global Technologies Inc.
Stephen Jenkins
Chief Executive Officer & Director

For more information visit http://linkglobal.io/ or contact:
Steve Jenkins
stephen@linkglobal.io
+1-877-770-6545

For investor information please contact:
Omar Diaz
Investor Relations Manager
Omar@linkglobal.io
(604)551 2950

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION. This news release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “forecast”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes”, or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results “may”, “would”, “could”, “should” or “might” occur. Forward-looking statements made in this news release include, but are not limited, to: statements with respect to the Agreement and the terms and potential benefits thereof; that the parties will enter into the definitive partnership agreement and the terms thereof, including the timeline for same; that Link’s significant expertise in international projects and government relationships will assist the development of these projects; and that the initiatives are slated to begin implementation in fiscal Q1 2021. All such forward-looking statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. In the case of the Company, these risks, uncertainties, assumptions and other factors include, without limitation: that the parties may not enter into a definitive partnership agreement at all or on the terms announced; that actual results from the partnership may differ materially from the parties’ expectations; those set out in the Company’s most recent MD&A, fluctuations in the price of electricity, fluctuations in the price of digital currencies/Bitcoin, the future potential halving of Bitcoin, increases in the network difficulty rate and price of digital currencies/Bitcoin, negative changes in the level of digital currency/Bitcoin rewards per block, the securing of economic rates for the purchase of power, the opportunities for acquiring digital currency mining hardware, unanticipated changes in laws, regulations or other industry standards affecting the business of the Company, reliance on key management personnel, the Company’s ability to implement its business plan, litigation risk, stock price volatility, the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of the date hereof. Other than as specifically required by law, the Company undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.

SOURCE: Link Global Technologies Inc.

View source version on accesswire.com:
https://www.accesswire.com/640232/Link-Globals-Subsidiary-Pure-Digital-Power-Corp-Signs-A-Letter-of-Intent-With-a-Leading-Solar-Consultant-to-Source-20MW-of-Solar-Power

Is your property a good fit for solar energy? Webinar April 14 at 12 p.m.

ALEXANDRIA, VA-SolarizeAlexandria is a program that makes it easier for residents and business owners to install solar power systems on Alexandria properties. This year’s campaign runs through June 30. SolarizeAlexandria, now in its seventh year, offers the options below.

Solar Energy for Your Home or Business

Each property owner who registers for the SolarizeAlexandria program will receive a free, no-obligation virtual solar site assessment for their home or business. During this virtual assessment, a qualified solar energy professional will evaluate whether solar power is a good option for the home or business. Property owners who would like to pursue solar can take advantage of discounts that leverage regional bulk pricing and financing offered by a qualified solar energy professional.

If the property owner decides to install a solar power system on their home or business, a qualified solar energy professional and installer will work with the property owner to conduct additional evaluation and design remotely, and schedule any necessary on-site work. The city also offers a property tax exemption for residential property owners for the value of certified solar energy equipment. In addition, upon signing up for SolarizeAlexandria, property owners will be eligible for a complimentary energy efficiency assessment to identify possible improvements to their overall energy efficiency.

Battery Storage

The SolarizeAlexandria program is now also enabling participants to purchase battery storage in addition to a solar energy system. When battery storage is used in conjunction with a solar energy system, property owners can store the electricity generated by the system for use anytime. In addition, battery storage may provide the ability to power portions of the home during a power outage.

Electric Vehicle Chargers

This year’s program continues to offer participants the option to purchase a level two electric vehicle charging station for their home or business. This 240-volt electric vehicle charging station will provide electric vehicle charging up to 20 miles range per hour of charging time. A federal tax credit is also available to reduce the cost of the electric vehicle charging station for your home or business. Electric vehicle charging stations are not eligible for the city’s Solar Energy Equipment Tax Exemption.

The following virtual sessions will provide more information about SolarizeAlexandria and options for solar power.

• Wednesday, April 14, noon to 1 p.m.
• Tuesday, May 11, 6 to 7 p.m.
• Thursday, June 3, 3 to 4 p.m.

For more information and to register, visit solarizenova.org/events.

To learn more about how solar power works, how to afford a solar system, and the incentives and programs available to solar customers in Virginia, refer to the solar energy information on the city’s Energy & Climate Change webpage. Use the Northern Virginia Solar Map.to find out if your property is a good fit for solar energy.

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