Arizona Receives funding for Residential Solar Thermal Energy Systems
Adam Capital Clean Energy Asset Finance, the leading collateral-based lender serving distributive commercial renewable energy developers, today announced the closing of a $500,000 loan with Arizona-based Solar Solutions. Solar Solutions plans to use the loan to install approximately 100 kW of residential solar thermal energy systems in the Phoenix area.
“The agreement with Solar Solutions is a prime example of Adam Capital’s unique lending model of securing a renewable energy loan primarily by federal grant payments made in lieu of tax credits,” said Adam Boucher, founder and CEO, Adam Capital Clean Energy Asset Finance. “By leveraging federal payments and local utility incentives as a source of collateral and repayment for renewable energy loans we are able to provide small energy developers like Solar Solutions with a reliable source of capital to move forward with project installations.”
Most of the rooftop solar thermal power systems to be installed and financed with the Adam Capital loan will power all of the homes’ or building’s electrical usage using a net metering agreement with the local utility. Net metering allows the system to store daytime energy on the grid. The homes’ meter runs backward drawing on the surplus energy stored. The homeowners pay for any energy used above what has been stored via the net-metered system. Each homeowner pays a nominal $3 to $10 per month for the net metering service.
Adam Capital offers collateralized loans between $250,000 and $3 million to commercial scale renewable energy developers of Solar, solar Thermal, Wind, Waste to Energy, and Biofuels. Adam Capital offers developers the ability to provide Internal Financing and Internal Leasing to their clients with 10-200 kilowatt (kW) systems in rebate-rich West Coast markets. By loaning against a new class of assets—the credits and rebates available for renewable energy production in the federal government’s energy incentive package, combined with existing incentives offered by states such as California and Arizona—Adam Capital can, in many cases, finance up to 100% of the hard costs of a renewable energy project.
About Adam Capital
Adam Capital Clean Energy Asset Finance is the premier collateral based lender providing financing, training, and consulting to distributive clean energy developers that serves the residential, commercial rooftop, and small industrial scale markets. With over 50 years of combined experience in collateralized asset lending, law, taxation, and corporate finance, the firm works with energy developers seeking initial funding for the deployment of renewable energy systems. For more information please visit: www.AdamCapital.com or call 1.800.557.5071.
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