We might hear some news about changes in the solar power industry – particularly about the much lower costs of home solar systems. This huge price drop is due to changes in the technology and the marketplace. Solar finance is also a factor. Many solar companies today use residential and commercial solar leases and power purchase agreements and there are about six templates for them available to utilize.
The Solar Energy Finance Association (SEFA) has played a role in standardizing solar finance to help bring clarity and efficiency to the financing of solar power projects. A DOE and NREL work initiative called the Solar Access to Public Capital (SAPC) working group helped establish how solar finance could function. SEFA is continuing and expanding its work to help support the solar power industry.
Membership in SEFA provides access to information and the opportunity to influence the field of solar finance.
“We are eager to embark on a new year as we prepare to offer exciting new opportunities in the solar industry. SEFA is an organization that supports industry professionals, providing them with the tools necessary to collaborate and collectively pave the way to solving some of the industry’s most complex challenges,” explained Mary Rottman president of SEFA.
SEFA has also created a consumer best practices list in order to educate the public about how to work effectively with the solar industry when it wants to purchase a home solar power system.
For example, the first tip is to find out if the solar installer is licensed and insured.
Taking this step could prevent any mishaps during an installation process. This is not to say or imply that solar installers are shady in any way. Most operate professionally and ethically. However, a few oddballs without proper solar power training and licensing might try to pass themselves off as solar power installers without having the proper knowledge and do damage to a person’s home.
In fact, SEFA also works to provide other benefits to its members like:
-advocacy for solar capital market solutions and financing structures
-creation of best practices standards
-identifying solar trends and opportunities
-creating educational programs, events and publications;
-networking events with solar companies and relevant institutions.
Solar finance is just as important as technology research and development because it helps to overcome the persistent misunderstanding that solar power it too expensive. Solar power has never been more affordable.