SolarCapitalGroup

Tuesday, March 27, 2012

What Does a 1603 Award Letter Look Like?

Ever Wondered What Correspondence from the US Department of Treasury looks like when a solar system owner receives notification that his/her 1603 Grant has been approved and will be paid? Here is a redacted version of the email sent by Treasury to applicants:

***

Sent: Saturday, March 24, 2012 9:45 AM
Subject: U.S. Treasury Department - Application for Section 1603: Application 2012xxxxxxxxxxx Awarded

Section 1603 AWARD LETTER

-Awardee-: XYZ Inc, 123 Maple Street, Dallas, Texas, 11111

Re: Section 1603 Payment for Specified Energy Property in Lieu of Tax Credits for Treasury Application Number 2012xxxxxxxxxxx – Award Notice

Dear Redacted:

The United States Department of the Treasury (Treasury) is pleased to inform you that the above-referenced application for payment in the amount of ($xx,xxx.00) for Specified Energy Property in Lieu of Tax Credits is approved. This payment is authorized under Section 1603 of Division B of the American Recovery and Reinvestment Act of 2009.

This notice constitutes official notification of the award and together with your submitted application, supporting documentation, and signed Terms and Conditions constitutes the Grant Agreement between Treasury and you. Acceptance of this award, including the Terms and Conditions, is acknowledged by the awardee when funds are accepted from Treasury. All awards are subject to further monitoring and audit to ensure compliance.

You should receive the payment in your bank account within seven business days of the date of this letter. The payment will be deposited in the bank account that is listed in the Central Contractor Registration (CCR).

Sincerely, Richard L. Gregg Fiscal Assistant Secretary

***end***

Jim Young

President

Solar Capital Group, LLC

512-565-7509

News & Blog: http://solarcapitalgroup.blogspot.com

Sunday, March 25, 2012

Two News Agencies Report on Solar Capital Group's Largest Projects

3/25/12

This past week, both CoStar News Group and the Austin Business Journal reported on Solar Capital Group’s funding of Brandon Oaks Apartment complex’s 205kw solar system in Arlington, Texas. We were excited for the coverage, and would love it if you would go to the news-agencies pages and ‘LIKE” the articles so they will be continue to provide great coverage:

http://www.costar.com/News/Article/Solar-Capital-Funds-Largest-Commercial-Solar-Installation-in-Arlington/136911

http://www.bizjournals.com/austin/blog/abje_news/2012/03/solar-capital-fronts-13m-for-arlington.html?ana=e_du_pub&s=article_du&ed=2012-03-23

Jim Young

President

Solar Capital Group, LLC

512-565-7509

News & Blog: http://solarcapitalgroup.blogspot.com

Tuesday, March 20, 2012

Why Do Utility Companies Pay Rebates?

Have you asked WHY utility companies make rebate payments to users that install solar, or other renewables? Wouldn’t the utility company want to sell you MORE power, rather than less? One answer is “the RPS”.

What is the Renewable Portfolio Standard or RPS?

Renewable Portfolio Standard (RPS) is a regulation that requires the increased production of energy from renewable energy sources, such as wind, solar, biomass, and geothermal.

The RPS mechanism generally places an obligation on electricity supply companies to produce a specified fraction of their electricity from renewable energy sources. Certified renewable energy generators earn certificates for every unit of electricity they produce and can sell these along with their electricity to supply companies. Supply companies then pass the certificates to some form of regulatory body to demonstrate their compliance with their regulatory obligations. Because it is a market mandate, the RPS relies almost entirely on the private market for its implementation. Unlike feed-in tariffs which guarantee purchase of all renewable energy regardless of cost, RPS programs tend to allow more price competition between different types of renewable energy, but can be limited in competition through eligibility and multipliers for RPS programs. Those supporting the adoption of RPS mechanisms claim that market implementation will result in competition, efficiency and innovation that will deliver renewable energy at the lowest possible cost, allowing renewable energy to compete with cheaper fossil fuel energy sources (cite-WikiPedia)

Jim Young

President

Solar Capital Group, LLC

512-565-7509

News & Blog: http://solarcapitalgroup.blogspot.com

Tuesday, March 13, 2012

Forwarding Webpage President Obama’s Marine One helicopter hangar gets 120kW Suniva PV system | PV-Tech

President Obama's Marine One helicopter hangar gets 120kW Suniva PV system | PV-Tech

Read it online: http://www.pv-tech.org/mobile/news/president_obamas_marine_one_helicopter_hangar_gets_120kw_suniva_pv_system

Note From Jim:
The article points out both the financial savings as WELL as the fact the Department of Navy mandate to it's facilities that they WILL get 50% of their energy from renewables by 2020.

Jim Young
512-565-7509
Sent from my iPhone
-pardon spelling-