Some of the solar industry’s most influential players have joined forces to establish truSolar Working Group, a consortium of 16 market leaders that is paving the way for new standards in solar project development and financing.
truSolar Working Group is dedicated to addressing the risks involved with developing and financing solar projects. The group plans to establish uniform standards of rating and underwriting solar projects in the commercial and industrial markets to help reduce risks to investors and lower capital costs for developing projects. Essentially, truSolar will create a score similar to a credit rating for each solar project.
Currently only five percent of 6,500 banks in the United States actively finance solar projects, posing a challenge to entities that want to develop new projects. With a standard rating system, a project would earn a truSolar score that would tell financial institutions and investors about its relative risk, and therefore accelerate the decision-making process and certainty.
SMA America is proud to represent the PV inverter manufacturing market and to be one of founding companies of truSolar. As the most trusted PV inverter manufacturer in the world, SMA America is dedicated to helping propel the growth of the renewable energy market and making solar accessible for everyone.
Other founding members include ABB, Assurant, Inc., Mosaic, PanelClaw , Standard & Poor’s, Booz Allen Hamilton, Rocky Mountain Institute, US National Labs NREL and Sandia. The group is led by Distributed Sun and Dupont Photovoltaic Solutions.
Jim Morgenson, Director of Market Development (guest author)
Morgenson is responsible for SMA America’s commercial market strategy, leading initiatives across customers and sales channels, products, partnerships, marketing, and industry standards toward growth in the North American market.