Minnesota Renewable Energy Experts JJR Power See ‘Unprecedented’ Demand for Solar Power

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New State legislation creates incentives to make solar power affordable for the future

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Utility rates have gone up 40 percent in the past decade

As Minnesotans hover on the brink of yet another cold winter and concerns about energy costs come to the forefront, renewable energy experts at JJR Power in Excelsior, Minnesota today said they’ve seen an unprecedented demand for solar power thanks to incentives and grants created last year by the Minnesota Legislature. As utility rates climb and prices for solar power drop, JJR Power officials say they’ve developed solar solutions for a range of businesses and organizations in nine states, including schools, community hockey arenas, and a water treatment plant. They say they’ve helped them navigate the complexities of adding solar power to their energy picture in the most economical way.

“Utility rates have gone up 40 percent in the past decade and Xcel Energy’s rates are set to go up another 6-7 percent just in the next two years,” said John Jaffray, president and founder of JJR Power. “It’s a growing industry. People are demanding solar, but where do you start? It’s not about the technology, it’s not about the efficiency of the panels, it’s about whether or not solar is a good fit for your company or organization. We help guide you through the decision-making and grant process.” Solar energy legislation passed last year in Minnesota requires local, investor-owned utilities like Xcel Energy to provide millions of dollars in financial incentives over the next five years to promote installation of solar energy systems. “Now’s the time to make an informed decision about solar,” said Mike Woodley, Director of Business Development, “and we help our customers do that.”

Meanwhile, solar costs continue to drop steadily. The average installation cost per watt of capacity has fallen from $4.50 in 2009 to $2.50 currently, according to Jaffray. By 2020, it’s expected to drop to below $1.50. “It’s a broad trend—not a new trend, but absolutely a trend we expect to continue,” Woodley said. “These falling costs plus the government incentives, which won’t be around forever, have made solar power a viable, cost-effective solution for many businesses and organizations.”

About JJR Power
JJR Power is a Minnesota-based energy and finance firm founded in 2006. We work with installers, constructors, developers and organizations interested in financing and developing solar projects. We’ve capitalized on opportunities in the energy sector and have created a vehicle for investing in assets with long duration, excellent credit quality and high risk-adjusted returns. For the past 8 years, JJR Power has been active in power markets across the United States, beginning with memberships in MISO, PJM, and ISO-NE. In 2009, we began advising, developing and financing companies and nonprofit organizations on their solar power installations in Colorado, California, New Mexico, Hawaii, North Carolina, New Jersey, Massachusetts, Connecticut and Minnesota. We provide increased value for off-takers, installers and developers, optimizing yield and safety of return for investors in the solar, wind and renewable energy space.

For more information, go http://www.jjrpower.com or call (952) 715-3082.

For interviews, please contact media liaison Robb Leer at (612) 701-0608 or by email at: robbl(at)leercommunication(dot)com.

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