Maryland & California, United States — Standard Solar Inc. announced a formal joint venture with Perpetual Energy Systems. The joint venture, Perpetual Standard Solar LLC is expected to provide a complete turnkey solution to customers interested in benefiting from renewable energy without having to outlay the large amount of capital required to design, engineer, construct, maintain and operate commercial-scale solar systems.
Through this relationship, Standard Solar said that it is expanding its addressable market by providing commercial customers access to solar energy systems without the upfront capital investment.
The deal with Perpetual Energy also opens access to conventional debt and tax credit equity sources of capital to deploy for the benefit of commercial, institutional, academic and industrial organizations looking for a means to host renewable energy without expending their own capital resources or borrowing power, making solar energy a financially feasible and environmentally attractive solution to hosting clean power.
“Without an understanding of financing options, many companies and institutions may mistakenly believe that they cannot afford to utilize on-site solar power. However, through the use of PPAs, and the funding sources brought to bear by companies such as Standard Solar and Perpetual, those that desire solar energy, but may not otherwise find it feasible to allocate significant capital resources are now able to go solar – often with energy cost savings over time,” said Scott Wiater, president of Standard Solar.