Financial, Legal, Professional

Business models | Solar is forecast to have another strong year of growth, but in spite rather than because of political support in many parts of the world. Simon Currie and Rob Marsh assess some of the commercial drivers for solar in 2017 and beyond as it finds itself increasingly at the mercy of market forces but arguably better placed to become a true global competitor.

Project finance - Minimising risk to lenders is vital in ensuring the solar industry continues to have access to adequate sources of finance. Simon Turner and Paola Piazzolla outline the key ingredients for the technical due diligence needed to give peace of mind to investors.

The importance of the investment tax credit in stimulating solar development has become an article of faith in the US, and its extension at the end of 2015 was welcomed as a vital lifeline. But as Danielle Ola hears, complexity, tightening supply and inefficiencies mean tax equity has a growing number of critics.

The aim of the Solar Bankability project is to establish a common practice for professional risk assessment, which will serve to reduce the risks associated with investments in PV projects. In this article the project team discusses a key aspect of this work: the development of a methodology for the assessment of the economic impact of failures occurring during operation but which might have originated in previous phases.

Over the past 12 months, the US solar business has been on a rollercoaster ride, with the high-profile bankruptcy of SunEdison and the merger of SolarCity and Tesla stealing the headlines. Danielle Ola talks to the experts about some of the key trends shaping the world of solar finance and investment in the US.

It was a turbulent year for solar finance in 2015 with big successes, more innovation and a few nasty surprises too. Mercom Capital’s Raj Prabhu takes a forensic look at solar finance in the last 12 months and the clues offered for the year ahead.

Solar’s widely heralded shift to self-consumption models has failed to happen to any meaningful degree. But as it remains PV’s only viable future business model, it’s time to get the project back on track, writes Gaëtan Masson.

As the economics of solar improve, merchant projects are already in place in Chile and various parts of the US. However, as lawyers from Chadbourne explain, financing them is not a straightforward business.

Securitisation is emerging as a promising new source of finance for the solar industry. Raymond Hudson looks at its potential for future growth and some of the considerations for developers looking to go down the securitisation route.

Emanuele Tacchino outlines the lessons learned from the major solar secondary markets for helping investors utilise due diligence expertise to hedge risk and increase the long-term profitability of their asset acquisitions.