Solar Lendscape report shows increased investor interest in community solar

kWh Analytics

kWh Analytics released a free resource profiling 28 tax equity investors for developers looking to raise capital. The Solar Lendscape catalogs the industry’s most active debt and tax equity investors, including details on check size, target market segments, and product type.

The industry’s first Solar Lendscape was released in June 2018 and initially focused exclusively on providers of debt. Following industry interest, kWh Analytics developed Solar Lendscape for Tax Equity to also include an overview of tax equity investors.

Project development is known to be a complex engagement in which the rules and variables regularly change. One of the most important variables for a developer to track is the availability of capital. Leveraging their experience working with investors, kWh Analytics built a simple, free tool to help developers assess the investor landscape and find the right partner for their projects.

Fast facts from the Solar Lendscape for Tax Equity:

  • Most organizations are using partnerships as a preferred structure.
  • Nearly a dozen investors are investing in community solar.
  • There was an influx of new tax equity providers in 2017, following the extension of the investment tax credit in 2016.

Fast facts from the Solar Lendscape:

  • There are now 14 lenders that have either originated or hold more than $1b of solar term debt.
  • ~20% of the lenders are now willing to lend to community solar projects.
  • ~20% of the lenders are now willing to take risk on the merchant tail.

— Solar Builder magazine

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