Building Management Hawaii June – July 2009

Financing Solar Energy

A new company has been formed to finance photovoltaic projects and help reduce the cost of energy.

It is SunForce Solutions International, Ltd. (SFSI), established in early 2008 as one of the first Hawaii solar energy finance companies.

According to SFSI’s CEO Craig Hunt, the turnkey solar finance company “assists customers with finance options for installation of large and medium-sized photovoltaic (PV) systems through a 15 or 20 year Power Purchase Agreement (PPA).

“Customers receive their electric power from a SFSI photovoltaic solar system installed on their premises and pay a lower monthly electricity bill to SFSI.

“Normally, PPA is not offered with Built-In Photovoltaic (BIPV) systems; however, SFSI can offer PPA financing if the BIPV system is installed through Commercial Roofing & Waterproofing (CRW), which possesses the skill to install and remove the PV panel without damaging the roof or the solar panel,” said Hunt.

Hunt said solar energy costs are now less than fossil fuel energy costs.

SFSI’s energy finance is comprised of a local network of qualified tax equity investors who provide 100 percent financing for their Hawaii-based customers.

Guy Akasaki, chairman and co-founder of SFSI, is also the principal of Commercial Roofing and Waterproofing.

According to Akasaki, SFSI empowers its clients to integrate renewable energy initiatives with no upfront costs, lower their energy consumption and reduce their operating costs.

“Our customers will see an immediate savings on monthly electric bills and will be able to cap their long term energy costs for 15 to 20 years.”  SFSI’s solar energy equipment includes installation warranties and long-term comprehensive insurance to cover unlikely business interruption of service, general and product liability and property and operations risk.

The SFSI team includes international experts in solar energy finance, design, installation and long-term operations and maintenance.

PG.10 – Industry News

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