Today, a lot of industries are realizing the benefits of solar energy to save power, money and energy and also protect the local or global environment. Since converting to solar power, energy becomes a large capital expense for most businesses. It’s also important that the finance run freely while you’re protecting the resources and managing risk. We have a few commercial solar financing programs. So if you want to use one of them, first you’ll have to purchase Power Purchase Agreements or (PPAs). This agreement defines a system of sale between a buyer and a seller. He can last from 4 to 20 years, and there are mandatory to the state and federal level depending on the project site. Within the solar power PPa’s take in all the costs of the project such as construction, design and much more. Benefits of use solar energy can be seen instantly because purchasing of solar power as a substitute for non-renewable energies will produce that utility bills falls soon and costs reduced. Also the benefits of PPa is that he offers companies big savings relative usual financing options. If you ask any expert to give you his opinion about the use of this project he will give you advise that this is a pure win and that there is no bad investment in renewable forms of energy. If at any moment project does not go according to plan, the PPa provider takes the obligation to pay the cost of failure.
Most of the major solar panels use CSP system to convert sunlight into electricity. The biggest project in the world is in Mohave Desert in California, where several large CSP energy plants produce an output of more than 350 MW. The other type of solar power being practically used in the world today are PV cells. They produce a relatively small amount of electricity when sunlight is absorbed into the panel.
Using a solar Tracker will follow the sun throughout the day to maximize energy output. The First Solar Tracker is a proven single-axis tracking technology that has been custom designed to integrate with First Solar modules and reduce system costs.
PACE or property-assessed clean energy (PACE) model is a new innovative mechanism for financing energy efficiency and renewable energy improvements. The first PACE program was implemented by Berkeley, California, led by Cisco DeVry’s, the chief of staff to Berkley’s mayor. In the cities PACE has a significant role in reducing local greenhouse gas emissions, promoting energy efficiency improvements in its buildings, making the shift to renewable sources of energy more affordable, and reducing energy costs for residents and businesses. The program is so important that it was named one of the top 20 “world-changing” ideas by Scientific American magazine. PACE financing clean energy projects is based on existing structure called “land- secured financing district,” basically known a local improvement district, or another similar phrase. A PACE financing is a “debt of property” meaning that the debt is tied to the property opposed to the property owners, and system of repayment depends from the state legislation. This affects to the investing in energy improvements, since many because many property owners are not certain to make property improvements if they think they may not stay in the property long enough for the resulting savings to cover the upfront costs.