SolRiver Capital, a Colorado-based solar investment fund, announced the launch of its free PPA Rate Finder tool for solar developers. Developers enter a desired purchase price for their solar project into the Rate Finder. Then it tells them the PPA rate needed to get that price.
“Solar developers often ask us what PPA price per kilowatt hour they need to hit a certain funding amount for their project. The Rate Finder is a tool that gives them that number,” said Brandon Conard, Managing Partner of SolRiver Capital.
How it works
To use the Rate Finder, developers provide basic information about a project. The inputs include basic system specs, a few operating costs, and any project incentives. From there, the Rate Finder combines the developer’s assumptions and desired purchase price with SolRiver’s financial model. The Rate Finder then displays the power purchase agreement rate needed for the developer to get their desired purchase price from SolRiver.
The Rate Finder is free to use. SolRiver hopes that having no-cost access to its financial model helps developers confidently bid on clean energy RFP’s or negotiate PPA rates with off-takers.
“We know that coming up with a PPA rate for a bid is a critical and sometimes stressful process. The Rate Finder is a simple way for developers to easily estimate what PPA rates allow them to achieve their goals,” explained Conard.
— Solar Builder magazine