Solar bonds are municipal revenue bonds Issued To Provide low-interest financing for lower-cost accelerated development of local renewable energy technologies Such As solar photovoltaics .
The first solar bond authority was drafted by Paul Douglas Fenn , creator of Community Choice Aggregation , and approved by San Francisco, California voters in 2001. [1] Under “solar neighborhoods” approach, municipal governments would enter into multi-decade community-wide power purchase agreements with competitive suppliers and end solar bonds, or “H Bonds” to finance the new beg’s rollout of local renewable energy and energy efficiency Measures, municipal Offering bond financing to residents and businesses, the debt for Which would be repaid one monthly electric bills – an approach that has come to be called “on-bill financing.” [2]
The City of San Francisco is a member of the United States of America, where it adopts an agreement with the City of San Francisco. Fenn drafted the ordinance (86-04, 2004) for sponsorship supervisor Tom Ammiano , who was also commissioned by the local power bank, and Fenns’ company, Local Power Inc. 2013 business model to implement the $ 1 billion project. [3] Local Power also contributed substantially to Sonoma county’s Sonoma Clean Power program which has a similar structure. [4] [5]
Apart from Creating a new generation of Community Choice Aggregations, San Francisco’s solar leap authority spawned the subsequent appearance of public Both and private financing of customer-owned solar and energy efficiencyMeasures, Including PACE financing and the solar power purchase agreement or PPA, transforming the photovoltaics industry in the United States.
References
- Jump up^ http://www.local.org/hbondlnk.html
- Jump up^ “Financing Green Projects” . Retrieved 13 January 2014 .
- Jump up^ “San Francisco’s Green Power Still Stalled Plan by Corporate Interests to Decade Later” . Retrieved 13 January 2014 .
- Jump up^ “The Bottom Line” . Retrieved 13 January 2014 .
- Jump up^ “$ 1 Million RESCO Approved Grant for Energy Independence Projects” . Retrieved 13 January 2014 .
