Sustainable: Third-party solar ownership takes off
Located on the sprawling, football-field-size rooftop of the Court International Building, St. Paul's largest solar photovoltaic array is an example of an emerging clean-energy financing trend.The 430-kilowatt Court International array is one of four solar installations along University Avenue in St. Paul owned by Washington, D.C.-based WGL Energy Systems Inc. The arrangement is part of a third-party ownership model in solar energy that is common on the coasts and has begun to have an impact in Minnesota. It's not hard to understand why.
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#1 Nov 7, 2017
"“In cases where building owners don’t want to pay for the system or they don’t want to manage the process and the headaches, the third-party system takes that away,” said Eric Pasi, IPS Solar’s vice president of business development.“We found that on University Avenue, building managers wanted to take a hands-off approach.”"
What happens if IPS goes bankrupt? Who owns the system? Who takes care of the system? You could end up with a bank owning the solar PV asset, but who then will take care of any maintenance or repairs the system needs? You are still better off owning the solar PV asset and contracting with a solar firm to take care of any maintenance, repair issues.
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