Solar has made a lot of progress as a mainstream energy source. We’re no longer discussing whether solar is a viable option, but rather what mechanisms we can put in place to make it accessible to more people. The key challenge now is that better and more sophisticated funding solutions are needed to help the solar industry reach its full potential.
This spring, we had the pleasure of sitting in on the Banking on Solar working group, which was organized by the Department of Energy’s National Renewable Energy Laboratory. Representatives of the solar industry were joined by bankers, regulators and lawyers. The goal was to address the barriers that banks face when lending to businesses and homeowners for solar upgrades and equipment.