The JV has been organized as ‘Perpetual Standard Solar’. The companies claim that, through this JV, they provide a complete turnkey solution to customers interested in benefitting from renewable energy without having to outlay the large amount of capital required to construct, maintain and operate commercial-scale solar systems. The combined resources of Standard Solar and Perpetual will also help the JV develop large-scale projects across the country.
Through this relationship, Standard Solar expands its addressable market by providing commercial customers access to solar energy systems without the upfront capital investment.
It also opens access to conventional debt and tax credit equity sources of capital to deploy for the benefit of commercial, institutional, academic and industrial organizations looking for a means to host renewable energy without expending their own capital resources or borrowing power.
Scott Wiater, president of Standard Solar, said: “Without an understanding of financing options, many companies and institutions may mistakenly believe that they cannot afford to utilize on-site solar power.
“However, through the use of PPAs, and the funding sources brought to bear by companies such as Standard Solar and Perpetual, those that desire solar energy, but may not otherwise find it feasible to allocate significant capital resources are now able to go solar – often with energy cost savings over time.”
