Energy Solutions » Financing

The Story of James L. Price's Ground-Mounted Solar Panel System

glenna — Thu, 21 Aug 2008 23:08:52 +0000

James L. Price, retired Senior Master Sergeant, USAF, lives in Lompoc, CA. In May he started his research on solar energy systems, envisioning a system to save him money on his household electricity bill. His search brought him to the HelioPower team.

Initially he talked with Kyle Lynn, the company's sales coordinator. "Kyle, you were the first person I talked to that got me started on an exciting journey. Thanks for taking the time to answer all my fact finding questions" said Mr. Price.

Kyle asked HelioPower energy consultant, Vanessa Wendling to work with James on his new system. Mr. Price said, "Vanessa, thank you for being so patient with me. I've lost count of how many times I called you at work and at home, late in the evening, not to mention the numerous times you called me keeping me well informed about what was going on. I finally had the chance to meet you after (your) five hour drive to Lompoc for the on-site evaluation. You had no fear when you climbed up onto my roof to take the necessary measurements. After crunching all the numbers for the roof instsallation, the pole and ground mount systems and reviewing all the pertinent dates, I decided that the ground mount would be the best way to go."

Next Vanessa worked with New Resource Bank to secure the financing for James' system. Rebates are a critical component to savings on a new solar power panel system. On the HelioPower team, Jane Kamangar assisted James with his rebate paperwork. He says, "Jane thanks for all the documents you sent to me and keeping me well informed on what was happening with the extremely important rebate program."

Bert Paddie, project manager, moved the Mitsubishi 185 Photovoltaic ground mounted system forward with his design drawings and project implementation. Bert kept the track record on this project going well with, as Mr. Price describes, "impressive paperwork and drawings. When I submitted the plans to the city for review I was informed that it would take at least 2 weeks for approval. The permit to install the system was issued to me in just one week."

The project was now in the installation phase. Tim Molek was the Lead Supervisor, working with technical assistants Tony Molek and Ryan Williamson.

Mr. Price describes the installation process:

On 5, 6 and 7^th August 08, I had a ground-mounted Photovoltaic System installed in my back yard.

After obtaining all the necessary materials and equipment, they (the crew) immediately went to work filling ten pre-dug holes with galvanized pipe and concrete.

The first thing I noticed was how well they worked together as a team. The work was hard and dirty but the coordination of the crew was phenomenal. They continued to work until the concrete was poured and the posts properly distanced and perfectly aligned according to the post detail specification drawing.

All went well the following day, with the installation of the solar modules, inverter, three electrical disconnect boxes, conduit and all the necessary wiring required for final inspection.

Thanks to everyone for a job well done. You’re the BEST!”

James L. Price, pictured here, with his new solar power system in Lompoc, CA

Citi and Helio Micro Utility Announce the Green Energy Community Investment Fund™

glenna — Thu, 14 Aug 2008 16:05:05 +0000

Out on the wires this morning, comes a major announcement from Citi and Helio Micro Utility…

Citi and Helio Micro Utility Announce

the Green Energy Community Investment Fund^™

Initial Phase of new Fund will Power up to Four Megawatts of Commercial and Public Sector

Solar Energy System Installations

New York, NY and Berkeley, CA, August 14, 2008/ Citi Community Capital, a division of Citi, and Helio Micro Utility today announced the creation of the Green Energy Community Investment Fund to initially finance up to four megawatts of solar electricity production this year. Through this new initiative, solar power systems will be installed on qualifying commercial and public sector facilities throughout the U.S., with an emphasis on underserved communities. Helio mU, headquartered in Berkeley, CA, provides solar electricity to commercial, residential and not-for-profit customers with little or no initial capital outlay through long term Power Purchase Agreements (PPAs).

The first of its kind in the clean energy sector, the Green Energy Community Investment Fund™ puts a special focus on commercial, non-profit and public entities in low and moderate income areas. The Fund will follow the same model as the established Helio Green Energy Plan™, enabling qualifying entities to buy the power generated from a solar installation rather than the panels themselves, thus providing upfront savings and smoothing the path to solar adoption.

“Energy is a major concern in the everyday operation of businesses and organizations across America,” said Andrew Ditton, Managing Director of Citi Community Capital. “This Fund is an excellent opportunity for us to expand the mission of our community development efforts to bring affordable green energy solutions to facilities primarily in low and moderate income areas. It also supports Citi's 2007 announcement of $50 billion in investment and financing over 10 years to address global climate change. We are pleased to work with the Helio Micro Utility team on this vital environmental and economic initiative.”

Helio Micro Utility Chairman, Ian Rogoff, explained “we created Helio Micro Utility in order to introduce innovative renewable energy finance and supply chain offerings to accelerate the adoption of renewable energy solutions. With the Green Energy Community Investment Fund, we have partnered with Citi to combine their environmental and community goals, and global financial strength, with our first-of-their-kind financial products for dramatically accelerated solar power adoption among traditionally under-served markets.”

“We are delighted with Citi’s support, and especially proud to work with them to expand the use of solar energy to help our planet while also serving local communities,” said Mo Rousso, President & CEO of Helio mU. “With budget cuts, rising energy and gasoline prices and economic pressures, it is more crucial than ever for businesses, schools and non profit organizations of all types to receive assistance now. With this support from Citi Community Capital, we are able to offer much needed help to reduce and stabilize energy costs and reduce dependence on brown energy.”

In 2007 Citi Community Capital (CCC), formerly Citibank Community Development, provided up to $5 billion for affordable housing and community revitalization projects in locations around the country. The Green Energy Community Investment Fund is part of Citi’s U.S. initiative to support business and community improvement with programs that also include environmentally positive objectives.

The Green Energy Community Investment Fund was created to support the installation of solar electricity systems on commercial and public sector buildings. Ideal criteria for participation in this new program include:

Solar projects that can be completed prior to the end of 2008 so that the benefits of the Federal Incentive Tax Credit (ITC) program can be applied to the solar power system installation cost.
Customer sites that are owner occupied or have more than 10 years remaining on the building lease.
Sites that have adequate roof space for a solar electricity system capable of generating at least 50 kW, or approximately 9,000 square feet of space.
Sites that have unobstructed sun exposure year round.
Sites that are paying over $2,000 per month in electricity bills.
Sites in California, New Jersey, or other states with existing state-level solar incentive programs

Tom Millhoff, Vice President of Business Development for Helio mU will lead the qualification process of facilities for the fund. “We will move quickly to evaluate building sites and install solar power systems this year. We encourage interested customers to contact us, particularly for projects that can be completed by the end of this year. In addition to end customers, solar power integration firms who have non-residential projects which might qualify for support from the Green Energy Community Investment Fund™ should contact us immediately,” said Mr. Millhoff.

For more information:

Citi Community Capital

The community development division of Citi was created to fulfill the diverse community development lending and investment activity in one distinct business unit. The business, now called Citi Community Capital (CCC), was launched in 2000. In 2007, CCC merged with the Affordable Housing unit of the Municipal Securities Division which made available an even wider array of financial products that can be structured to fit our clients’ objectives.

CCC helps community development financial institutions, real estate developers, national intermediaries and non-profit organizations achieve their goals through a broad, integrated platform of debt and equity offerings. Within CCC is a dedicated investment team that specializes in renewable energy, New Markets, and other community development oriented investing. For more information, please visit www.citi.com/citigroup/citizen/community or contact Danielle Romero-Apsilos at 212-816-2264.

Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.

Helio Micro Utility (Helio mU)

Helio mU is a green power pioneer, selling solar energy without the upfront cost of panels. The Company provides solar electricity to commercial, residential and not-for-profit customers with little or no initial capital outlay through its Green Energy Plan^TM. The Helio Green Energy Plan guarantees customers receive cost-effective and predictable energy pricing and maximum system performance over the life of the agreement. Helio mU is headquartered in Berkeley, CA. For more information please visit: www.HeliomU.com and www.BuyPowerNotPanels.com or call toll free at 1.866.862.2806.

Solar By the Numbers

Helio — Wed, 11 Jun 2008 21:11:00 +0000

Interest is keen in the upcoming Solar Santa Monica event, Solar by the Numbers: 2008 Financing Options for Home Solar Systems, June 16. Consumers not only want to save money on their electricity bills but participate in the "green energy revolution" as well. The event picked up notice today by the Los Angeles Times' Emerald City blog, which posted, "Sunny money talk at solar power panel 6/16."

I spoke to solar power industry veteran, Mo Rousso, who will present on behalf of Helio Micro Utility, Inc. (Helio mU), the green power pioneer selling solar energy without the upfront cost of panels. I asked Mo what motivates him about the green energy industry.

From Mo Rousso:

“I did my first solar project in 1975 as an engineering undergrad and I saw how simple and powerful the technology was and how it had the potential to change people's lives. Ever since, I have been a proponent of renewable energy.

First and foremost, it enables freedom. People need to be educated to understand that they do have a choice from where they acquire their energy. Second, it helps their pocketbooks by allowing families to keep more of their hard earned income. Third, it helps the environment by offsetting greenhouse gases. When I first started in the energy business I was tasked with environmental monitoring at large scale power plants. It was amazing to see how much noxious gas and particulates were released into the air!

Finally, in today's competitive global economy, it creates domestic green collar jobs, both on the technical and the vocational sides — with the potential to accelerate the economy beyond what the computer revolution did in the 80's and 90's. Ultimately, it boils down to my family and children and the type of legacy I want to leave behind. They are the reason I work long days and nights — I worry for their future.”

How to Save a Fortune on Your Solar Investment

Helio — Sat, 07 Jun 2008 17:25:00 +0000

Do you think that the cost of going solar is too high? For many families, paying for seven to ten years of electricity up front can be cost prohibitive even though such an investment pays huge dividends over time. New solar specific finance products are being introduced into the marketplace to ease the cost burden, but these vehicles do nothing to reduce system cost, instead they are designed to make the cost more manageable by spreading it out over a period of time and can be of great benefit to the homeowner who wishes to go solar AND preserve capital. Although leasing and more innovative and superior financing products like PPAs (power purchase agreements) are becoming available to consumers (in addition to traditional financing), the question of how to reduce overall system cost remains paramount.

What if I told you that I could save you up to 50% on solar photovoltaics (PV) for your home? What if my methodology was simple, cheap and easily implemented? What if my tactics required little or no sacrifice on your part? If you're interested in saving some serious cash on your solar power system, read on. I know my strategy works because I implemented it on my own house prior to going solar.

You can visit my system here: http://www.sunnyportal.com/PublicPage.aspx?page=654a19ac-ab43-4417-9aed-79bb19075295

When I became interested in going solar in late 2006, I began by using one of the many solar sizing calculators available on the internet. After some trial and error, I soon discovered that I would require a 6KW system to satiate my monthly appetite for 1,000 kWh (kilowatt hours) of electricity. The first quote I received for a 6KW system was $56,000 before incentives. Even with a $14,000 California rebate and a $2,000 Federal Tax Credit, $40,000 was a hard figure for me and my wife, Daryl, to swallow and about $20,000 more than we were prepared to spend.

Undeterred, I was committed to making solar work for my family, within our budget, and with 100% elimination of our electric bill. This is how I did it:

1. I changed 30 incandescent light bulbs to Compact Fluorescent (CFL) -
Savings = 250 kWh/month or 25%
Note: Make sure to buy "soft white" bulbs (unless you like 'blue' light). I like N:Vision 2700 Kelvin (soft white) CFLs for standard light fixtures. For canned lighting I prefer Philips dimmable CFLs since they brighten faster than GE. Home Depot & Walmart both have an excellent selection of CFLs. New CFLs don't flicker on or buzz and the quality and variety of light is vastly superior to generation one CFLs. So buy confidently!

2. I reduced the time on my pool pump by 1 hour/day from five to four hours.
Savings = 50kWh/month or 5%

3. I turned off an electric water heater and bar refrigerator for our guest room (except for when we actually have guests)
Savings = 100kWh/month or 10%

4. I placed all electronics on power strips and I turn off power strips when not in use (Google: Bye Bye Standby). Electronics include televisions, dvds/vcrs, computers, peripherals, stereos, amps, aka Home Theater Systems — all of which use 'standby' power when 'off'.
Savings = 50kWh/month or 5%

5. I now wash clothes in cold water with cold water detergent and let the dishwasher ‘air dry’ dishes (turn off the "quick dry" feature and save 50% on each dishwasher load).
Savings = 50kWh/month or 5%

The total cost of these efficiency measures – $135
Total reduction in power consumption – 500 kWh/month or 50%
New Solar System Price – $35,000 ($23,000 after rebate and tax credit)
Total Savings = $17,000

While your mileage may vary, addressing energy consumption habits up front will make a solar power system much more affordable as compared to buying/financing a system designed to generate ‘wasteful power’. In other words, energy efficiency eliminates wasteful power consumption and therefore you'll get significantly more bang for your solar buck by reducing your appetite for electricity prior to going solar.

I turned $135 into $17,000. I then put that $17,000 down on a Ford Escape Hybrid. How will you spend your savings?

Editor's Note: Photo is of Scott Gordon residence and his solar power array system

Financing Residential Solar Power

Helio — Fri, 06 Jun 2008 15:46:00 +0000

Mark Your Calendars: Increased interest in solar throughout California has given rise to new financing options, some available to homeowners for the first time in 2008. Solar Santa Monica invites interested residents, brokers and solar installers to attend a FREE panel discussion on solar loans and PPA’s (Power Purchase Agreements) featuring representatives from New Resource Bank, Sun Run and Helio Micro Utility. The program takes place on Monday, June 16, 2008 at 7 p.m. in the Multipurpose Room at the Main Library, 601 Santa Monica Blvd. in Santa Monica. Seating is limited so call to reserve your place: (310) 458-4992. Source: EcoMotion for Solar Santa Monica