On-site solar+storage financing scheme introduced

Sharp has introduced a financing scheme for US-based commercial and industrial on-site solar photovoltaic (PV) systems which include its energy storage solution.

The scheme’s initial phase, with funding of $25 million, is expected to support the deployment of over 12 MW of hybrid solar+storage systems over the next year, the company said.

Financing will be made available to developers and integrators as well as end users.

Sharp said its SmartStorage system is designed to work synergistically with solar as part of an integrated hybrid energy solution, with the solar component reducing energy use and the storage component reducing a facility’s peak demand use.

Carl Mansfield, general manager and founder of Sharp’s Energy Systems and Services Group, said: ‘By offering this precedent-setting financing mechanism broadly to the industry and making it available to project development allies, we are able to equip developers with readily available financing for hybrid solar-storage systems.’

And he added that ‘financing is a critical piece to the advancement of the energy storage industry’. 

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