Funding Solar Projects In Michigan

Michigan Solar Programs & Incentives

SolRiver Capital funds solar projects across the country but we do have a keen interest in certain markets, like Michigan.

We are interested in Michigan because of it’s strong state programs and incentives for solar, including the upcoming PURPA program. In addition, the state has a high volume of direct PPA’s and utility PPA’s with high-quality offtakers. If you’re working on a solar project in Michigan, SolRiver will finance projects with schools, utilities, municipalities, and large corporations as offtakers.

PURPA

Michigan may soon become an active PURPA state. The state is evaluating 15 or 20-year PPAs for systems below 2MW. The avoided cost rate is currently under review and a decision is expected before the end of 2017. If rates are economically favorable, developers will look to secure site control for as many sites as possible.

SolRiver understands the PURPA economics and is comfortable making investments in these projects.

Source: http://www.michigan.gov/mpsc/0,4639,7-159-80741_80743-406273–,00.html

Utility PPA’s

A Utility PPA is an agreement between a utility and a generator, in which the utility buys power from a solar system that’s interconnected to the utility grid. In addition to buying power, it’s common to see a utility purchase renewable energy credits or RECs.

Direct PPA’s

A direct power purchase agreement (“PPA”) refers to an agreement between a customer and a generator, in which the customer buys power from an on-site solar system. This is a plain-vanilla structure and very common for solar projects.

While direct PPA’s aren’t unique to Michigan, there is a significant volume of projects with direct PPA’s in the state.

Have a solar project in Michigan?

Reach out to our team – we can fund it.

Types of Projects We Look For

If you’re a developer or installer in New York, SolRiver is interested in the types of projects below.

Schools

SolRiver funds projects with educational offtakers – elementary, high school, and colleges/universities (public and private).
Examples of projects that SoRiver would fund:

750kW carport with Rochester City School District
1MW ground mount with Cornell University

Utilities

SolRiver actively looks to provide capital for projects with utilities, including ConEd, NYSEG, National Grid, PSEG, LIPA, NYPA, Just Energy, and CH Energy.
Examples of projects that SoRiver would fund:

15MW ground mount with Central Hudson
30MW ground mount with ConEd

Municipalities

SolRiver can finance most municipal solar projects selling power to a local government, town, or city.
Examples of projects that SoRiver would fund:

1MW rooftop with Rochester City
5MW ground mount with LaGuardia Airport

Corporations

For corporate offtakers, SolRiver can generally fund projects with Fortune 1000 companies.
Example of a project that SolRiver would fund:

900kW rooftop with KPMG

Let’s Discuss Your Project

We’re ready to look at your project. To get in touch with us, pick the option below that’s easiest for you.

Send Email

You can always email us about your project. Just include some basic information like system size, location, and offtaker.

Submit via Form

You can also use our online project intake form. Answer a handful of questions about the project and our team will be notified immediately.

Use Excel Sheet

Alternatively, we can provide you a short Excel worksheet with our project inputs. Simply email the file back to us with your information and we’ll be sure to review it.