· The cost (opportunity cost) of not choosing a solar power solution in the month of July went up by $44,000 in rebate dollars lost to those nonprofits who did not execute their agreements and get their grant application paperwork in to the Maryland Energy Administration. Effectively the state of MD capped rebates to $6k from $50k as of July 1, 2012.
· Investors who had purchased solar panels last year (under 1603 tax incentives) and were looking for nonprofit addresses to place them (through an extension granted until Sep 2012) and who were willing to put up all of the up-front construction capital to build on the nonprofits’ sites (and give the SREC revenues to the nonprofit to keep) will no longer be eligible after Sep 30. Solar integration and financing companies are no longer offering this option to nonprofits after this month.
· All nonprofits that are or were interested in investor funded construction of solar power plants and have not executed engineering, procurement and construction (EPC) agreements (or received one need to let their solar integrators know). I have been communicating with over 900 people over the last 90 days about this and have sent out many EPC agreements and proposal offers and received many responses, but possibly not one from all nonprofits that were interested.
· We have until this month to get these EPC agreements executed if still interested.
· We have until this month to get financing approved by investor co.’s offering up front capital for construction.
· If you have not already been asked to submit financials (last two years financial statements for approval) or have not been given specific lease financing term agreements to execute, please let your solar integrator contact know. As you can imagine, people have become very busy and cannot predict availability.