in News Departments > New & Noteworthy
print the content item

The National Rural Utilities Cooperative Finance Corp. (CFC) will soon launch a pilot program with Federated Rural Electric Insurance Exchange and the National Renewables Cooperative Organization (NRCO) that seeks to make solar photovoltaic generation more economical for electric cooperatives and their members.

Through the initiative, NRCO will oversee program management and supporting marketing and legal documents. CFC will provide debt capital as needed for solar projects. Federated has committed up to $6 million as a tax equity investment for the initial solar projects.

According to the organizations, the program was developed in the context of decreasing technology costs combined with tax incentives. Taxable third-party solar vendors are able to harness the benefits of investment tax credits and accelerated depreciation to deploy solar projects - incentives that nonprofit electric cooperatives cannot traditionally access.

"This collaborative program will provide electric cooperatives with a streamlined process to develop solar energy projects in a more cost-effective way," CFC CEO Sheldon C. Petersen says.

"Our organizations will be able to provide an electric cooperative interested in developing one or more solar power projects with all of the essential services needed to do so," NRCO CEO Amadou Fall adds. "Basic project concepts can be expanded and scaled up depending on the interest of cooperative memberships and as more projects develop."

Hybrid Energy Innovations

Hybrid Energy Innovations 2015
Latest Top Stories

Global Smart Grid Tech Revenue Slated For Solid Growth

According to a report from Navigant Research, annual revenue for smart grid technologies will reach over $70 billion within the next 10 years.


Utilities Partner With Energy Storage To Harness Renewables

As utilities struggle to incorporate the increased use of intermittent renewable energy resources, such as solar and wind power, onto the grid, the power providers are looking to energy storage.


Smart Meter Fire Probe Points To Sensus Design 'Shortcomings'

There has been more fallout in Saskatchewan: An investigation into SaskPower's halted smart meter program says Sensus Generation 3.3 units "have a tendency to leak" and the utility mishandled the rollout.


Two Years After Superstorm Sandy, Utilities Highlight Grid Efforts

As the U.S. reflects on the monster hurricane that struck in October 2012, utilities note what they have done to help protect against future severe weather.


USDA Invests $1.4 Billion To Boost Rural Grids Around The Country

The U.S. Department of Agriculture (USDA) has announced more loan guarantees for rural power companies and renewable energy firms in 21 states.

S&C Electric_id176
edf_id180