Category: Solar Bonds

Solar Panels Vs. Tesla Solar Roof: What’s Best for Your Next Build?

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your construction bond needs. What Is a Tesla Solar Roof? Most people are familiar with solar panels, but the Tesla solar roof—not so much. Although Tesla introduced the solar roof concept in 2016, potential clients who inquire about your ability to install a solar system probably are envisioning the usual solar panels installed on their roof or on the ground nearby. A Tesla solar roof is made of tempered glass panels instead of shingles. The glass panels capture solar energy and convert it to electricity. Advantages and Disadvantages of a Tesla Solar Roof A Tesla solar roof maintains the look and functionality of a traditional roof. The panels are not mounted on the roof; they are the roof. Every square inch of a solar roof captures solar energy. The downside is that homeowners can’t take their solar roof with them when they move, though a solar roof can increase the home’s value for potential buyers. In terms of generating electricity, a Tesla solar...

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Are Solar Panels Ethical in Construction?

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your construction bond needs. What Are the Primary Ethical Issues? Construction companies and their customers are justifiably concerned about the integrity and ethical conduct of the companies that manufacture, distribute, or install solar panels. Homeowners and businesses that opt for solar energy do so for one or both of these reasons: to reduce their carbon footprint and support the use of renewable energy, and/or to reduce their electric bills and obtain any available tax advantages. Not all companies involved in the solar industry operate in accordance with these expectations. Ironically, some manufacturers of photovoltaic panels and related equipment also are involved in activities that are harmful to the environment. Some are owned by companies involved in industries that extract, refine, or sell petroleum products or are responsible for high greenhouse gas emissions. Some have investments in such industries. Additionally, some companies in the solar industry have dubious sales practices and misrepresent what customers can expect to gain from installing solar panels.  And some...

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Is Solar a Good Investment for Your Next Build?

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with your construction bond needs. Is Solar Power a Good Investment? Solar energy is a booming industry. It will continue to grow rapidly as more states require new builds to incorporate solar technology to reduce carbon emissions from power plants using fossil fuels to generate electricity. States like New York and Illinois have passed laws establishing clean energy requirements for a certain percentage of electricity to come from renewable sources by a given date. But is solar power a good investment? Read on to find out. High Demand for Solar Systems The demand for solar power is growing even in states that have not yet passed clean energy laws. Consumers purchasing newly constructed homes or looking to have one built for them are eager to take advantage of solar power’s tax advantages and other financial benefits. Demand is also increasing in the commercial sector as more companies seek to demonstrate their commitment to renewable energy and increase their appeal to those seeking investments in environmentally and...

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Interconnection Standards for Solar

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your solar bond needs. What Is Interconnection? Interconnection is the process by which solar energy systems are connected to the electric grid. Standards that vary by state govern the interconnection process. Interconnection permits, however, are issued at the local level, for example by municipal building departments. Why Do Interconnection Standards Exist? Standards help ensure transparency, consistency, and ultimately safety. While interconnection standards are established at the state level, many states are emulating the standards developed by the Federal Energy Regulatory Commission (FERC) for projects up to 20 megawatts. These FERC standards are called Small Generator Interconnection Procedures (SGIP). Many states have also patterned engineering and safety requirements for interconnection after the IEEE 1547 and UL 1741 standards. Different standards may apply depending on whether or not the solar system is net metered, its capacity requirements, whether it’s a commercial or residential system, and so on. What Does the Interconnection Process Involve? The interconnection process involves 3 steps: application, installation, approval. It’s during the...

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What Is Industrial Solar?

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your industrial solar bonding needs. What Is Industrial & Commercial Solar? Solar systems are an increasingly common sight on the rooftops of commercial and industrial buildings or ground-mounted adjacent to the buildings served by the electricity they generate, but what is industrial solar? These solar systems operate in the same manner as residential solar installations, but on a larger scale. The panels used in an industrial system are bigger, and there are more of them, covering an expansive area. Most industrial solar systems are connected to the local electric grid, which allows a company to export its excess electricity to the grid. In exchange, the company receives credits that can be used to lower or eliminate the monthly bill from the local electric company. Sizing and Positioning of Industrial Solar Systems The amount of energy generated by any solar system is measured in kilowatt-hours per square meter per day and is heavily dependent on the location’s peak sun hours, which can range from...

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How to use Solar Energy in Agriculture

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your solar bond needs. How to use Solar Energy in Agriculture Family farms and large industrial-scale agricultural enterprises increasingly are turning to solar-generated electricity to power irrigation, greenhouses, heating and cooling of buildings housing livestock, dairy operations, drying of produce, refrigeration, and other processes. Read on to find out how to use solar energy in agriculture and how it benefits the industry. Benefits of Using Solar Energy in Agriculture Farmers and agricultural land managers benefit in many less obvious ways from using solar energy.  For example: Agricultural operations can gain an additional income stream by connecting their solar installations to the gris and selling excess solar-generated power to the local utility company. High-value, shade-tolerant crops and pollinator-friendly plant species can be grown beneath solar panels, adding to crop diversity and improving agricultural yields through increased pollination. There is the potential to reduce water use and extend growing seasons through solar-powered irrigation systems. And crops grown beneath solar panels require less water than those...

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Transportation Infrastructure Finance and Innovation Act (TIFIA)

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your construction bonding needs. What Is the Transportation Infrastructure Finance and Innovation Act? The Transportation Infrastructure Finance and Innovation Act (TIFIA) was signed into law in 1998 and reauthorized by the Fixing America’s Surface Transportation (FAST) Act of 2015. It established a federal credit assistance program operated under the auspices of the U.S. Department of Transportation to provide financing for certain surface transportation projects that DOT considers to be of national or regional importance. These may include projects to construct, expand, or upgrade highways, railways (primarily passenger lines, but also some used to transport freight), intermodal freight transfer facilities, or port terminals. Only projects valued at $10 million or more are eligible for TIFIA financing. Qualified state and local governments, transit authorities, transportation companies, and public/private partnerships (P3s) can apply for loans, loan guarantees, or standby lines of credit. TIFIA offers 35-year fixed-rate loans with no prepayment penalty and the option of deferring payments until five years after substantial project completion. Interest is...

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Succeeding with Solar Power

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your solar bonding needs. Why Invest in Renewable Energy Generation? Companies around the world are strategizing to determine how they can reduce their carbon footprint and aid in the transition to a zero-carbon future. Reducing their dependence on energy from fossil fuels invariably plays a big part in their planning. Smaller businesses can move toward their energy goals by investing in community solar projects by buying or leasing a few panels and benefiting from selling their excess electricity output. Larger businesses may be in a position to install their own solar systems on company property. Companies that can bear the upfront cost of installing a solar energy system and generate their own electricity can reduce or even eliminate their need to acquire energy from the grid. They also may be able to gain another revenue stream by exporting their excess power to the grid, for a price. What’s Involved in Installing a Solar System? The seeds of success must be planted from the...

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A Guide to Solar Surety Bonds

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your solar bonding needs. What Are Solar Surety Bonds? All surety bonds required in conjunction with the permitting, construction, operation, or decommissioning of a solar generating facility fall into the broad category of solar surety bonds.  Solar surety bonds are a form of financial security used to mitigate risk in the solar energy industry. They are an alternative to letters of credit, cash deposits, and other ways to protect the financial interests of project owners and government entities—federal, state, or local—related to various phases of a solar generating facility’s life cycle. Each solar surety bond is a legally binding contract among three parties: the “obligee” requiring the bond, the “principal” purchasing the bond, and the “surety” guaranteeing the payment of valid claims against the bond. Solar Surety Bonds have certain advantages over other types of financial security. The main advantage from the principal’s standpoint is that a surety bond does not require a large initial outlay of cash or tie up the principal’s...

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What Is a Power Purchase Agreement?

Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your bonding needs. See more about purchase power agreements here. What Is a Power Purchase Agreement? Power purchase agreements are bilateral (2-party) contracts allowing customers to purchase energy and renewable energy certificates from a renewable energy supplier generating either solar or wind energy. A PPA allows a third party developer to install, own, and operate an energy system on property owned by a customer. The seller produces or generates power for sale. The buyer is the “offtaker” of that power. There are a number of ways in which PPAs can be configured. Some deals involve the actual physical delivery of energy. Some do not. Virtual or remote PPAs don’t involve a physical delivery of energy to the buyer. In more than half of the states in the country, PPA provides a way to finance energy projects in the absence of government subsidies. The renewable energy supplier can charge a fixed price, which yields a guaranteed ROI with minimum risk. These contractual agreements typically...

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