One of the ways that an industry matures is by standardizing all sorts of processes, including financial processes, making proliferation of the industry’s offerings easier. Solar is still a young industry, but it is growing very fast, and solutions such as standardization of common processes is helping it along. As part of that, an NREL-organized working group has created some standardized solar contract templates. Here’s a bit more about the news, via the Solar Energy Industries Association (SEIA):
An NREL-organized working group representing solar industry stakeholders has developed standardized solar contract templates to lower transaction costs and make it easier to access low-cost financing for residential and commercial solar power projects. These contract templates should allow national and regional solar developers alike to increase business opportunities and enable the creation of tradable investment vehicles desired by pension funds and other institutional investors.
The standardized contract templates developed to date include residential leases and commercial power purchase agreements.
Take a look at the standardized solar contract templates here.
For more information, Paul Schwabe is the Co-Lead of NREL’s Solar Access to Public Capital Project.
Image: solar contract via Shutterstock
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