Financing has been playing a stellar role in advancing renewable energy. Notable contributions in 2013 include securitization of renewable energy assets, leasing of on-site power plants and crowd-sourcing of funds for investing in small scale solar projects.
In November, SolarCity issued a $54.4 million solar asset-backed financing package that pooled solar contracts from more than 5,000 installations. The notes carry a 4.8% interest rate and are scheduled to mature in December 2026.
The property-assessed clean energy (PACE) project in the US helps home and business owners afford costs of investments in energy efficiency and renewables by paying for them over say 20 years through a special tax levied on the property.
Companies like SunFunder and Solar Mosaic, have helped finance small-scale projects for sub-$100,000 projects through crowd-funding. This type of funding is customized to consumer needs and addresses a gap left by traditional financial institutions.
Shailesh is post graduate in Environment Management from Forest Research Institute (FRI) University, Dehradun, India. Presently he is working in the areas of Environmental and Renewable Energy Advisory Services. He has started GreenCleanGuide.com during his college days.