Project Finance Will Boost Uptake Of Commercial Solar And Storage Projects

Open Energy Group is a financial provider for new projects involving rooftop solar and storage in the US.  CEO of Open Energy Group, Graham Smith, believes that while utility scale and residential rooftop markets have been well funded by project financial providers, the U.S commercial rooftop market still remains untapped. Smith also believes providing financial support to commercial rooftop developers will see the increase in uptake of commercial rooftop solar.

To date, Open Energy has funded $2 million into commercial and small utility rooftop PV projects. A target is set to increase this to $5 million in the following weeks, as well as a goal of $20-$30 million by the end of 2015.

Recently, Open Energy has also widened their range of partners, from initially limiting their off-take agreements to primary utilities, they are now considering offtakers such as schools, universities, municipal and governmental bodies- as being potential investors that express interest in solar energy and storage. Smith highlighted the importance of reducing costs of equipment to allow a more widespread access to solar.

Open Energy Group will be launching a new borrower platform soon, and are looking at providing project finance for solar and storage arrays for public buildings.

If you want to know more about this and other topics directly from end users of energy storage technologies join us at one of these annual events: The Energy Storage World Forum (Grid Scale Applications), or The Residential Energy Storage Forum, or one of our Training Courses.

LATEST ARTICLES

Annual Installed Capacity Significantly Increases

While the global market was under the haze of the epidemic and many countries were still in lockdown, the energy storage market showed extremely strong resilience and began to recover and grow since Q3 and Q4 of 2020. According to the BloombergNEF report, the global energy storage market in 2020 has developed faster than expected,…

Read More

Battery Storage for Commercial & Industry

Powerful battery storage offers many advantages in terms of saving electricity costs and a reliable power supply. With this technology, companies retain control of their energy supply and costs. The battery storage system is charged when energy is cheaply available and it supplies the stored electricity when prices are at their highest. With applications such…

Read More

★REVIEWS

“Probably the most interactive and well organized storage event on the calendar.”

★★★★★

Sales Director, S&C

“Great topics, competent speakers, good networking: keep it like that.”

★★★★★

TLC & SCADA Manager, FRI-EL

“High scientific content, well targeted, perfect organization.”

★★★★★

Expert Technical & Governance, Elia

Excellent networking event. The sponsorship was well worth it.”

★★★★★

Manager, ATL

View More

x