+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
Loading...
{megaLeaderboard}
{normalLeaderboard}
News Article

US consortium receives DOE support

News

The U.S. Department of Energy's (DOE) National Renewable Energy Laboratory (NREL), and DOE's Sandia National Laboratories (Sandia) extend their support for the truSolar Working Group's efforts to develop uniform open source risk scoring standards and rating criteria for solar projects that will facilitate lower transaction and capital costs, and improve project finance liquidity within the commercial and industrial solar segment.

"truSolar represents a valuable opportunity to create a common approach to characterizing solar project benefits and risks and more precise alignment on pricing of project capital," says NREL Senior Financial Analyst Michael Mendelsohn. "This initiative could potentially lower transaction costs, and improve access to financial capital critical to solar project deployment." Adds Roger Hill, principal member of technical staff at Sandia, "We will be examining the risks inherent in projects to sharpen our analytical tools for criteria and assessment in technical areas including yield and reliability."

The truSolar® Working Group was established on January 14th as a collaborative consortium of 16 solar industry market leaders dedicated to addressing a broad array of project risks through the development of uniform standards. The founding members of truSolar®, led by Distributed Sun and DuPont Photovoltaic Solutions, are among the leaders in solar project asset management, development, financing, manufacturing, insurance and ratings agencies. Founding member companies include ABB, Assurant, Inc., Mosaic, PanelClaw, SMA America, Standard & Poor's, Booz Allen Hamilton, and the Rocky Mountain Institute.

"On behalf of our founding members, we are pleased to welcome the National Labs to our initiative," said Chase Weir, chief executive officer - Distributed Sun.  "We are excited about the opportunity to work closely with the National Labs, and the SAPC initiative currently led by NREL, to develop comprehensive, complementary solutions for the solar industry, by the industry."

truSolar is an industry-driven standard for project selection, underwriting and approval.  It involves an underwriting process that rigorously tests and identifies higher yield, lower risk solar investment opportunities.  The system works to reduce project failure before, during and after construction, and increases the bankability of the industry's solar pipeline. truSolar is designed to mitigate events of default and business interruption from power off-takers with unrated "“ less than investment grade "“ credit.  By scoring project performance, site profile and counterparty risk criteria with sophisticated rating tools, truSolar provides a framework to lower capital costs and support trade credit insurance for power-purchase-agreement revenues.

 The truSolar Working Group is dedicated to developing the truSolar credit screen to provide a comprehensive assessment of risks "“ including project, system, construction, performance and financing"“ from development to long-term operation, serving as an industry-driven, open-source standard credit screen for PV project selection, underwriting and approval, through which a wide range of business methods, analysis tools, and related products and services can be applied. The Group represents nearly $100B in global annual revenues, more than 600 years of institutional experience, and the industry's best-practice, applied business knowledge throughout the value-chain.

"This work is a natural complement to our efforts with the Department of Energy and the national laboratories in finance innovation," says Greg Rosen, chief investment officer of Mosaic.  "truSolar is vital to the industry because it will make the solar financing process flow more quickly, smoothly and cheaply."

 The truSolar Working is a consortium of leading solar market participants which exists to establish uniform credit screens standards for commercial and industrial PV projects and, in turn, enhance liquidity of the industry. Led by Distributed Sun and DuPont Photovoltaic Solutions, founding members include solar industry leaders ABB, Assurant, Inc., Mosaic, PanelClaw, SMA Solar Technology AG, Standard & Poor's, Booz Allen Hamilton, and the Rocky Mountain Institute with support from the U.S. National Labs NREL and Sandia.

Schletter Group: 48 MWp Project in Italy
ENCAVIS Acquires Two More Solar Parks In Spain and Surpasses The Planned Expansion
Maximum profitability with KACO advanced technology for complex solar roofs
Enviromena wins contract to re-power three major solar farms ahead of the summer energy peak
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
Next2Sun Builds World's Largest Vertical PV Plant at Frankfurt Airport
DNV Publishes Bankability Study of Solcast Satellite Irradiance Data
Steel company SSAB switches to fossil-free energy in Italy with PV solution from Solnet
janom Investments enters the Croatian solar energy industry by investing in a 30 MW power plant project
Trina Solar Vertex S+ 505W n-type dual-glass modules enter mass production
BayWa r.e. and 3E sign partnership agreement for monitoring & analytics of global PV portfolio
Accelerating Spain's Energy Transformation: LONGi to supply Naturgy with 1 million modules in new deal
NTR announces corporate PPA with Almac Group to buy energy from Murley Wind Farm, Northern Ireland
Oxford PV sets new solar panel efficiency world record
Order Intake for the Construction of Wind Turbines in Turkey
Trilantic Europe acquires stake in AEROCOMPACT Group
Octopus Energy makes solar farm debut in Germany
Austria-based KOGA Energy, a solar EPC solutions provider, has kicked off.
Exus to acquire 625MW New Mexico solar portfolio
Capcora Accompanies SUSI Partners In Raising Senior Debt For a Polish Renewables Portfolio
Qualitas Energy acquires a 96 MW wind energy project pipeline in Germany
Nordex Group receives orders from the UK for approx. 150 MW
Trina Solar gains EPD certification from UL Solutions and EPDItaly for industry leading modules
Mandarin Oriental Hyde Park, London instals innovative solar tech to decarbonise heating
Efficiency First: The Road to Electrification
SCHLETTER Supplies Austria's Largest PV Roof System
E.ON partners with UK renewable heat innovator Naked Energy
Sonnedix signs innovative EUR500 million loan facility to finance construction of its renewable electricity pipeline in Europe and UK
Construction begins on Glennmont and Ørsted’s Borkum Riffgrund 3 offshore wind farm in Germany
ABB shores up reliable power supply at Southeast Asia’s largest floating solar plant
Sonnedix starts construction of 300MW UK solar PV portfolio

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: