As demand for solar energy surges across America, today the Solar Energy Industries Association (SEIA) and Alta Energy jointly released a white paper highlighting an underutilized financing tool that can help boost commercial and industrial (C&I) solar development nationwide.
Urban Grid Holdings, LLC (Urban Grid), a leading developer and financier of solar projects throughout the United States, is pleased to announce the completion of two solar installations for Allegany County, Maryland totaling 2.14 MW.
Solar Alliance Energy Inc. (‘Solar Alliance’) is pleased announce it has completed the acquisition of Aries Solar, LLC (“Aries”), an established commercial solar company that is licensed to operate in four Southeast U.S. states. The Company acquired all of the assets of Aries, including a pipeline of commercial projects from Thompson Machinery Commerce Corporation (“Thompson Machinery”). In consideration for 100% of Aries Solar, LLC, Thompson Machinery will receive an earnout payment of 20% of net income from the current Aries project pipeline up to a maximum of US$1,000,000. Commercial projects signed after the acquisition are not subject to the net income allocation described above. There is no cash consideration payable at the close of the acquisition. Solar Alliance does not assume any employee liability in the acquisition and will be issuing employment offers to certain former employees of Aries. In addition, Solar Alliance does not assume any liability with respect to accounts payable or other current liabilities following the closing other than the liability to perform its obligations under contracts of Aries following the closing.
“This acquisition will result in more megawatts of solar installed annually along with a material increase in revenue for the Company,” said Chairman and CEO Jason Bak. “We are bringing an experienced technical team of developers and engineers on board which allows us to expand our customer base and the size of solar systems we provide to businesses that want to save substantially on their electricity bills and rely less on the traditional, hydrocarbon focused utilities of the past. This acquisition is part of the plan to increase our capabilities across the spectrum of residential, commercial and utility scale solar projects.”
Solar Alliance is also pleased to announce the appointment of Harvey Abouelata as Vice President, Commercial Solar. Mr. Abouelata was previously the president of Aries and leads a team of exceptional commercial solar professionals based in Knoxville, Tennessee.
“We are proud to Join the Alliance”, said Mr. Abouelata. “Becoming part of a larger organization will allow us to provide a wider array of services and more depth in order to more fully engage in opportunities that will benefit our clients, the communities we serve and our environment. To accomplish this, Solar Alliance is a perfect fit. We share the same values and vision for the future, and we will mutually benefit from each other’s experience and expertise.”
Jason Bak, Chairman and CEO
Larson Electronics LLC, a leading industrial lighting company, announced the release of a new solar panel kit to be added to its catalog of products.
Last year alone, the industry added 51,000 jobs, bringing the total number of Americans working in solar to more than 260,000.
Enables residential solar asset owners, loan providers, installers, developers, and distributors to truly understand how their PV systems are performing
Once 80 Year Rivals, Poyant Signs partners with Beaumont Solar to meet all industry deadlines
Solar Alliance Energy Inc. (‘Solar Alliance’) is pleased to announce it has signed an agreement (the “Agreement”) with Coachella Brands, Inc. (“Coachella”) for the design and construction of a 600 kilowatt commercial-sized solar project in California (“the Project”). The Project consists of a ground mounted solar installation at a new legal cannabis growing and processing facility. The Solar Alliance engineering team analyzed Coachella’s requirements and designed a system that will offset a large portion of the facilities electricity needs with lower cost renewable energy.
“It has been estimated that 1% of America’s electricity generation is used by cannabis growers, a very significant figure given growth projections. The signing of this commercial solar project agreement with Coachella Brands provides an entry into an extremely attractive and developing market with an aggressive growth curve,” said Chairman and CEO Jason Bak. “The rapidly growing cannabis industry is energy intensive and the current power infrastructure is not yet sufficient to supply demand in many areas. By removing power as the constraint to growth and offering financing products tailored to the industry, we are planning to have Solar Alliance become the solar provider of choice for cannabis facilities.”
Solar Alliance is committed to developing a long-term relationship with its customers by having them “Join the Alliance”. Enabling customers to participate in the equity growth of Solar Alliance is one way to build a movement. As part of the agreement, the Company will issue 250,000 warrants exercisable at a price of 12 cents per share for a period of two years. The warrants are subject to the approval of the TSX Venture Exchange.
The next stage in the Project’s development is to complete a final feasibility study which will consist of system design, grid interconnection / utility meter connection point, construction and technical requirements, permitting requirements, safety requirements and any additional modifications required to support the Project. The preliminary schedule for the Project anticipates construction commencing in January, 2018.
Jason Bak, Chairman and CEO
Locus Energy announced new, advanced hardware flexibility, with an enhanced capability to collect data from on-site aggregators and third-party equipment directly.
Green Power EMC, the renewable energy supplier for 38 Georgia Electric Membership Corporations (EMCs), and Silicon Ranch, one of the nation's largest independent solar power producers, officially dedicated a 52-Megawatt (MWAC) solar energy plant in Jeff Davis County, Georgia.
Solar Alliance Energy Inc. (‘Solar Alliance’) is pleased to announce it has been granted Approved Developer status for the California Self-Generation Incentive Program (“SGIP”). SGIP provides incentives to support existing, new, and emerging distributed energy resources including home battery storage. Solar Alliance has been allocated a portion of the incentives available for residential and small commercial storage systems and will manage the incentive applications for customers. Through Solar Alliance, customers can obtain an incentive of up to 60% of the cost of a home battery system. As an Approved Developer, Solar Alliance has been allocated up to 20% of the SGIP incentive funding for a given budget category in each statewide incentive step. The current stage of the incentive program consists of approximately $430 million in incentives. As an Approved Developer, Solar Alliance has the ability to offer an incentive package that many other competitors are not qualified to offer.
“Battery storage is transformative in the same way that cellphones and laptops allowed people to cut the cord, creating energy independence by powering a home even during a power outage,” said Chairman and CEO Jason Bak. “Combining this incentive program with the federal investment tax credit, homeowners may be eligible for up to 85% off the cost of a battery system when it is installed with a solar system. This makes battery storage extremely attractive and it is why we are integrating battery storage into our product offering. This is great news for new and existing Solar Alliance customers.”
Under the incentive program in California, a home battery is eligible for a state program that will pay up to 60% of the installed cost of the system. If a home battery is installed at the same time as solar panels, the home battery is also eligible for the federal U.S. Investment Tax Credit. Solar Alliance expects to announce a new relationship with a home battery provider in the near future.
“California is a leader in solar energy and this incentive program will make battery storage a reality for thousands of homeowners. Solar Alliance is uniquely positioned to provide homeowners with access to this battery storage incentive program and provide them with the energy independence that comes with battery backup,” concluded Bak.
Jason Bak, Chairman and CEO
IFC, a member of the World Bank Group, and fashion retailer, H&M Hennes & Mauritz (H&M), launched a joint partnership to boost the use of clean, renewable energy in the garment sector, while also slashing greenhouse gas emissions.
Bolymedia Holdings Co. Ltd., a global high-tech company headquartered in Silicon Valley, is pleased to announce its fourth patented technology product for renewable energy at the SNEC PV Power Expo on April 19-21, 2017 in Shanghai, China.