by Brianna Crandall — April 11, 2011—Siemens Industry recently introduced the Siemens Solar Power Purchase Agreement (PPA) program from its Building Technologies Division. The program, implemented in collaboration with Siemens Financial Services, allows customers to bring “clean” solar energy projects on their properties and to reap the rewards of clean energy and lower utility bills without the risk of making an initial capital investment in solar equipment.
Siemens says its Solar PPA is particularly advantageous for public sector entities, noting that since schools and other government agencies are tax-exempt, they are prevented from taking advantage of available federal tax incentives for solar energy projects. Siemens Solar PPA program makes buying solar energy in the public sector more accessible and cost-effective because Siemens owns the solar equipment and builds the project on the customer’s property.
Customers work exclusively with Siemens for the project’s entire lifecycle: from financing, design, construction and implementation, through ongoing maintenance. Solar power purchased in this way can also generate electricity expense savings, in addition to helping meet sustainability, clean energy and environmental goals, says the company.
Siemens says customers that take advantage of its Solar PPA eliminate the third-party financing and contractual agreements that are often requirements of other companies’ PPA structures. Siemens customers work with a single, financially stable company for the project’s entire lifecycle from financing, design, construction and implementation through ongoing maintenance.
