|WASHINGTON, D.C. - In an effort to open investment and financial innovation – and to focus that capability on historically underserved sectors of the solar economy – the Solar Energy Industries Association (SEIA) today launched the SEIA Finance Initiative.
“The solar industry has set its own, independent goal of facilitating wide-scale investment from an array of low-cost sources of capital,” said SEIA President and CEO Rhone Resch. “We believe this effort will culminate in greater manufacturing and deployment opportunities for solar technologies, and will be a boon for solar customers.”
The SEIA Finance Initiative aims to enable investment and pooling of solar cash flows into liquid, tradable securities investable by large-scale capital managers such as pension funds and others. The Finance Initiative will also work to remove barriers and accelerate solar adoption by stakeholders who could benefit most from harnessing clean, affordable solar energy. For example, a new solar project was installed in the U.S. last year every 2.5 minutes, with 63 percent of new capacity added in the utility-scale sector; 20 percent in residential; but only 17 percent in commercial systems. One key goal of the initiative is to drive up adoption in commercial markets.
SEIA’s new initiative will focus on three primary areas:
The SEIA Finance Initiative will meet approximately once per month via conference call and twice per year in person. To participate in the SEIA Finance Initiative, please contact Sara Geist at firstname.lastname@example.org. To discuss the initiative directly, please contact Michael Mendelsohn, SEIA’s senior director of project finance and capital markets, at email@example.com.
Celebrating its 41st anniversary in 2015, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA® is building a strong solar industry to power America. As the voice of the industry, SEIA works with its 1,000 member companies to champion the use of clean, affordable solar in America by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. Visit SEIA online at www.seia.org.