Siemens Industry Inc. has 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 solar energy projects on their properties without making an initial capital investment in solar equipment, the company explains.
“Demand for solar power is on the rise, but for many of our customers the initial capital investment requirements were just too high,” says Andreas Schierenbeck, president of the Building Technologies division of Siemens Industry, Inc. “With Siemens Solar PPA program both the financial and technical barriers associated with implementing solar energy are mitigated—we take on the risk—while our customers reap the rewards of clean energy and lower utility bills.”
A Siemens solar PPA is particularly advantageous for public-sector entities, according to Siemens. Because schools and other government agencies are tax-exempt, they are prevented from taking advantage of available federal tax incentives for solar energy projects.
Under the program, Siemens owns the solar equipment and builds the project on the customer's property. Customers work exclusively with Siemens over the project's life cycle: from financing, design, construction and implementation through ongoing maintenance.
SOURCE: Siemens Industry Inc.
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