Siemens Finances Solar Units
April 25, 2011
BUFFALO GROVE, Ill. - The Siemens Solar Power Purchase Agreement (PPA) program has been launched by the Siemens Industry Inc., Building Technologies Division. The program, implemented in collaboration with Siemens Financial Services, allows customers to bring clean solar energy projects on their properties without making an initial capital investment in solar equipment.
“Demand for solar power is on the rise, but for many of our customers, the initial capital investment requirements were just too high,” said Andreas Schierenbeck, president of the Building Technologies division of Siemens Industry Inc. “With Siemens Solar PPA program, both the financial and technical barriers associated with implementing solar energy are mitigated - we take on the risk - while our customers reap the rewards of clean energy and lower utility bills.”
Schools and other government agencies are tax-exempt, preventing them from taking advantage of available federal tax incentives for solar energy projects. According to the company, the program is particularly advantageous for public sector entities; it makes buying solar energy in the public sector more accessible and cost-effective - Siemens owns the solar equipment and builds the project on the customer’s property. Customers work exclusively with Siemens for the project’s entire lifecycle: from financing, design, construction and implementation, through ongoing maintenance. Solar power purchased in this way can also generate electricity expense savings, in addition to helping meet sustainability, clean energy, and environmental goals.
Publication date: 04/25/2011