Standard Solar and Perpetual Energy Systems Announce Solar Financing Joint Venture

GAITHERSBURG, Md. & LOS ANGELES--(BUSINESS WIRE)--Standard Solar, Inc., a full-service developer, integrator and installer of solar electric systems for academic, commercial, government, utility and residential customers throughout the Mid-Atlantic, today announced a formal joint venture with Perpetual Energy Systems (Perpetual), a nationwide developer and financier of renewable energy systems using the power purchase agreement (PPA). The joint venture has been organized as “Perpetual Standard Solar, LLC.” Through this joint venture, Standard Solar and Perpetual provide a complete turnkey solution to customers interested in benefitting from renewable energy without having to outlay the large amount of capital required to design, engineer, construct, maintain and operate commercial-scale solar systems. The combined resources of Standard Solar and Perpetual also uniquely position the joint venture to develop large-scale projects across the country.   

Through this relationship, Standard Solar expands its addressable market by providing commercial customers access to solar energy systems without the upfront capital investment. It also opens access to conventional debt and tax credit equity sources of capital to deploy for the benefit of commercial, institutional, academic and industrial organizations looking for a means to host renewable energy without expending their own capital resources or borrowing power, thereby making solar energy a financially feasible and environmentally attractive solution to hosting clean power.

“Without an understanding of financing options, many companies and institutions may mistakenly believe that they cannot afford to utilize on-site solar power. However, through the use of PPAs, and the funding sources brought to bear by companies such as Standard Solar and Perpetual, those that desire solar energy, but may not otherwise find it feasible to allocate significant capital resources are now able to go solar – often with energy cost savings over time,” said Scott Wiater, President of Standard Solar.

“Solar energy projects are capital intensive endeavors, and Perpetual remains on the forefront of funding these systems. Perpetual has a solid track record for successfully monetizing state, local and federal incentives, and bringing to bear construction-period and permanent debt to get systems completed and delivering clean energy,” said Michael Streams, SVP of Business Development for Perpetual. “With Standard Solar’s extensive track record in designing, engineering and installing large scale solar systems, the Perpetual Standard Solar venture is poised to offer host customers the most competitive package of funding, timely start and completion of projects, and clean energy production at competitive energy rates, all from a single source.”

With a solid customer base of more than 40 commercial installs to date, Standard Solar is a leading designer and installer of commercial systems. Standard Solar’s commercial portfolio includes installations for the U.S. Government Services Administration (GSA), U.S. Department of Energy, Catholic University of America and a major Maryland-based utility. Perpetual currently owns and operates systems for host clients such as Siemens Transportation Systems, City of Willits, Diocese of San Jose and Foster’s Wineries Americas.