Commercial Solar Hot Water Financing Program

Division: Renewable Energy Generation
Type: Programs
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The Commercial Solar Hot Water Financing Program assists commercial and non-profit building owners in reducing their water heating bills by installing solar hot water at little or no upfront cost. Solar hot water systems use the sun’s energy to heat water for a building’s domestic, space or process heating needs. Photo of Haynes House, Boston, MA. Courtesy of John Moore. The program, managed by Paradigm Partners, is a $1 million initiative that aims to install six to 10 large-scale solar hot water systems throughout the state. MassCEC’s primary program objective is to grow the commercial solar hot water industry in Massachusetts by driving down project development and construction soft costs, structuring replicable third party finance models and field validating high efficiency solar hot water technologies. How the program works A private third party finances the construction, maintenance and operating costs of a solar hot water system. The building owner signs a long-term contract* to realize the energy benefit generated by the solar hot water system for a stable, discounted amount that is less than current rates. The system is monitored to ensure optimal performance. A variety of financing options will be available based on the situation of the building owner, including Power Purchase Agreements (PPA) or Energy Services Agreements (ESA). Benefits Little or no capital cost to the building owner Energy produced by the solar hot water system is sold back to the building owner at a competitive and stable rate Risk and responsibility of operating and maintaining the system is the responsibility of the third-party owner System is monitored by the third-party owner to ensure optimal production, which eliminates performance-related risks to the building owner Can allow tax incentives not available to non-proift or public entities to be realized How to apply For more information, contact Mike Hogan at Paradigm Partners at 781-219-4619 or Mike@Paradigm-Partnership.com. The following information will be required in order to qualify a site: roof type and age, fuel utility supplier and annual energy usage/costs (electric, oil, gas, propane). Project sites will be evaluted based on the following criteria: Suitability of site and site conditions for solar thermal system (e.g. un-shaded roof, high hot water use and costs, etc.) Commitment of building owner and building owner’s understanding and expectations of the project. Development progress and timeframe relative to similar proposed projects. Important Note*: Participating sites must pay into MassCEC’s Renewable Energy Trust Fund. This includes all electric customers served by National Grid, NSTAR, Unitil (Fitchburg Gas and Electric), WMECO or a participating Municipal Lighting Plant community. Founded in 2010, Paradigm Partners provides turnkey design, build, and finance solutions to building owners in the commercial market, including multifamily, institutional, and industrial. They focus exclusively on renewable and clean technology systems to improve a client’s bottom line as well as the environment.