‘Solar Finance Roundtable’ Executives Tackle
Renewable Energy’s Next Big Challenge
Colorado Bankers Association & Colorado Solar Energy Industries Association host event in Boulder on November 4 to uncover ways to make it easier to finance solar
BOULDER – 10/27/11 – Solar energy and banking executives are joining forces to address one of the biggest barriers in the solar marketplace -- the lack of widespread availability of financing. Industry leaders are hosting a ‘Solar Finance Roundtable’ event on Friday, November 4 at 1pm at the St. Julien Hotel in Boulder to better understand what’s causing this barrier, and what can be done about it.
While solar leases and power purchase agreements are becoming more common today, industry leaders estimate that hundreds of solar companies across Colorado still lack sufficient access to capital to help finance customer solar projects as well as internal growth. The Solar Finance Roundtable will explore why this has been such a problem and will seek to uncover the emerging market solutions.
Solar Finance Roundtable panelists include executives from JP Morgan Chase, Wells Fargo, FirstBank, Syndicated Solar, RE-Align Technology, Skyline Innovations, and others. The event is produced by the nonprofit Colorado Solar Energy Industries Association and the Colorado Bankers Association.
“Solar finance is one of the fastest growing sectors of the renewable energy marketplace,” said Neal Lurie, Executive Director of the Colorado Solar Energy Industries Association. “The need is clear but the availability of financing for solar projects or operational growth lags far behind customer demand. The Solar Finance Roundtable is one of the first events of its kind in Colorado, bringing solar and finance executives together to help unlock this billion dollar market opportunity.”
Despite the challenging economy, the few dozen solar businesses that have solid financing in place are experiencing tremendous growth. In Colorado, solar projects financed and owned by third-party organizations have quickly grown to be 50% of the residential solar electric market and an even larger part of the commercial and utility segments – though much of this growth has been limited to relatively few well-financed organizations.
It’s been even more difficult to find financing for solar thermal projects. According to researchers at NREL, solar water heating performs better in Colorado than in any other state in the U.S.
The Solar Finance Roundtable includes presentations by industry leaders, panel discussions, networking, and is open to the public. For more information or to register visit: www.coseia.org
About the Colorado Solar Energy Industries Association:
Established in 1989, the nonprofit Colorado Solar Energy Industries Association (COSEIA) is the voice of the solar industry in Colorado. COSEIA represents and serves hundreds of member companies in Colorado working together to expand solar markets. COSEIA works to advance solar policy, remove barriers, highlight emerging trends, and improve education and outreach. www.coseia.org
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