New York, NY (PRWEB) October 22, 2012
The expiration of the Federal Grant Program and reduction of the bonus depreciation at the end of 2011 has adversely impacted funding for commercial solar projects. Once lucrative SREC programs in states like New Jersey and Pennsylvania have taken a significant downturn due to oversupply. Power Purchase Agreements that were once prevalent as a means of funding solar power plants for credit worthy companies are now less common due to their reliance on these federal and state incentives.
Despite the adverse effects of the reduced incentives, EXP Energy, an East Coast based solar finance company, has developed and financed multiple Megawatt-scale renewable energy projects for large multinational companies and utilities through PPA financing structures and long term equipment leasing. In the past year, EXP Energy has teamed with GeoPeak Energy, a leading commercial solar provider, to develop and deliver large scale solar projects for notable companies in New Jersey and Massachusetts. EXP Energy recently opened another round of funding for Solar Power Purchase Agreements in New Jersey, Massachusetts, and Maryland.
“In the past year, the solar financing market has seen a reduction in available funding options. Through EXP Energy’s PPA offerings, we have successfully delivered commercial and utility scale solar solutions for our clients,” says AJ Javan, Chief Strategy Officer of GeoPeak Energy.
“EXP Energy specializes in creating unique funding solutions that meet the complex needs of companies with sustainability initiatives where renewable energy is at the forefront,” says Ann Kaercher, Director - Solar Finance, EXP Energy.
About EXP Energy
EXP Energy develops and finances Megawatt scale renewable energy projects. EXP Energy offers project funding options such as Power Purchase Agreements (PPAs), construction financing, and project rescue funding for solar energy projects that are currently in development through delivery phases. EXP Energy funds solar projects for Fortune 1000 clients, multinational private companies, municipalities, private and public schools, and FERC qualified facilities. http://www.expenergygroup.com
About GeoPeak Energy
GeoPeak Energy, headquartered in Somerset NJ, is a global turnkey renewable energy solutions company that designs, deploys, owns and operates renewable energy systems. Through innovative technologies and exceptional customer service we deliver high quality solutions to enable our customers to reach their cost reduction and sustainability goals. Our offerings include project feasibility studies, development, engineering, ownership, installation and delivery, monitoring and maintenance. GeoPeak Energy also specializes in seamless and integrated technology platforms that allow its customers to track and report their carbon reduction and sustainability initiatives globally. GeoPeak Energy is a SunPower Elite Dealer, which represents the highest tier of quality training and customer service achievement. http://www.geopeak.com