Markets & Trends: CEO Interview with Solis Partners
CEO Interview: Solis Partners MD Jamie Hahn talks to pv magazine about solar renewable energy certificates – their success in the New Jersey marketplace and the areas which still need development. He also discusses incentive schemes, and the company’s competitive strategy.
The New Jersey solar market operates on a solar renewable energy certificate (SREC) incentive system. But it began with a rebate program. What happened?
New Jersey had been operating off a rebate program, where there was an allotment of money going into each calendar year, which was supposed to be spread across many solar projects. The issue was that it wasn’t sustainable. As more people started moving forward with projects, and they realized the economics and return on investment (ROI) were attractive, a lot of large commercial properties started looking to deploy solar. What ended up happening is they started bankrupting the fund quicker each year. So you had a whole queue of projects lined up, which didn’t know when they would be getting the rebate and if there was going to be money available by the time the project was completed…