User:Ns8584a/Sol Systems, LLC

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Sol Systems, LLC is a Washington, D.C. based solar energy finance and development firm whose goal is to bring solar energy to homeowners and businesses in the Northeast, Mid-Atlantic, and Mid-West. Sol Systems enables homeowners, businesses, and solar developers to finance their solar energy systems by providing a conduit for Solar Renewable Energy Credit (SREC) monetization and long-term price stability. The firm’s goal is to develop financing instruments and maximize the value of SRECs in order to reduce the costs of investing in solar energy systems.

Renewable Energy Credits

Solar Renewable Energy Credits (SRECs) are tradable credits that represent all the clean energy benefits of electricity generated from a solar electric system. Each time a solar energy system generates 1000kWh (1MWh) of electricity, an SREC is issued which can then be sold or traded separately from the electricity of the system. SRECs are valuable because many states have implemented Renewable Portfolio Standard (RPS) legislation requiring large-scale electricity suppliers to produce a percentage of their electricity from renewable and non-carbon emitting sources.^[1]

Company Profile

Leadership

Sol Systems was founded and is currently led by Yuri Horwitz, its President and CEO, and George Ashton, its Vice President and CFO. Mr. Horwitz has been involved in the environmental policy and the renewable energy field for over a decade within the federal government and non-profit sector and as a renewable energy attorney. Mr. Ashton has over a decade of experience in capital markets, finance, economics, strategic partnerships, and business development.^[2]

Residential/Small Businesses

The sale of SRECs can help make solar energy an affordable option for homeowners and businesses. In certain states, SRECs can cover up to 30% of a solar energy system’s overall costs. Sol Systems offers its customer resources to incorporate reliable SREC financing into cost estimates for current or planned solar energy systems. Long-term SREC contracts serve as an alternative to the open market where SREC prices are subject to market fluctuations and shifts that result from legislative changes, as well as market oversupply and undersupply of SRECs.^[3]

Installers/Developers

Sol Systems has setup a network of partnerships with solar energy installers and developers. The company works with its partners to help their customers defray the high costs of solar energy installations through reliable SREC financing. ^[4] To date, Sol Systems has worked with more than 200 solar installer and developer partners. Sol Systems has also provided customized SREC solutions to several large solar projects, providing clients with reliable financing and an improved return on their investment. Some of these systems include: a 1.2 MW solar energy system at SAS, a leader in business analytics software, a 100 kW system at the Voorhees Pediatric Facility, and a 100 kW system owned by bioMérieux, a multinational biotechnology company ^[5]

Energy Suppliers

Sol Systems also serves as a conduit between individual solar energy systems seeking to monetize their SRECs and energy suppliers working to comply with RPS requirements. Under RPS requirements, energy suppliers have three options to supply the grid with renewable energy. Energy suppliers may: develop renewable energy projects that produce clean energy, purchase SRECs, or pay a fine known as the Alternative Compliance Payment (ACP). Sol Systems offers energy suppliers RPS solutions based on long-term SREC off-taker agreements. These SREC agreements allow energy suppliers to fulfill their RPS requirements and avoid Alternative Compliance Payments.^[6]