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Solar Energy Informational
Hello I'm Hesser McBride, Chairperson of the Wilentz Goldman & Spitzer Renewable Energy
Practice Group. Thank you for joining us. Today's topic is whether the installation
of a solar photovoltaic system is right for your business.
The benefits the installation of the solar facility are energy cost savings and reliance
upon an environmentally friendly source of electric generation. Unbeknownst to many,
New Jersey is one of the most favorable solar markets in the country. That's due principally
to progressive regulatory policies adopted by the State. Those policies have enabled
solar projects to become economically viable for almost all businesses throughout the State.
If you're interested in a solar project the first thing to do is to evaluate the suitability
of your property to accommodate a solar installation. Solar panels are generally installed on rooftops,
in parking lot area or on vacant property near your building. The next step is to determine
whether you're interested in purchasing the solar facility outright or whether you prefer
to enter into a power purchase agreement. What alternative is best for you is driven
by factors unique to your business. For example, can you avail yourself to the substantial
tax benefits associated with these projects? Do you have risk tolerance associated with
ownership? Likewise, are you interested in making capital expenditures that may be required
for ownership? Regardless of whether you choose to purchase the system outright or whether
you decide to enter into a power purchase agreement, it's important that you retain
an experienced professional to guide you through the contract negotiation process. There are
numerous issues unique to solar contracts. Some of those include minimum performance
guarantees, inner connection issues and property restoration issues. If you would like to learn
more about solar projects, please consult our website or contact us directly and we
will be happy to guide you through that process.
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