Funding Solar Projects In Ohio
Ohio Solar Programs & Incentives
SolRiver Capital funds solar projects across the country but we do have a keen interest in certain markets, like Ohio.
We are interested in Ohio because of it’s strong state programs and incentives for solar, including tax exemptions and an expedited interconnection process. 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 Ohio, SolRiver will finance projects with schools, utilities, municipalities, and large corporations as offtakers.
Tax Exemptions
In OH, there are important solar tax exemptions for (1) sales tax and (2) property tax. First, solar equipment in the state is not subject to any sales tax. Second, Ohio offers a payment-in-lieu-of-taxes (PILOT) property tax option for systems above 250kW, priced at $7,000/MW.
These tax exemptions improve the economics of OH solar projects – lowering both install costs and ongoing expenses.
Interconnection
Ohio has one of the best interconnection programs in the US. Systems under 5MW can qualify for the “Level 2 Expedited Review”, in which a determination takes less than 20 business days from recieving an application. Review fees are fairly minimal at $50 application fee plus $1/kW.
SolRiver knows that the interconnection process can be a headache. In Ohio it’s not, which simplifies our investment decision for projects in the state.
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.
Ohio utilities have been very active recently, issuing RFP’s for RECs and 400MW+ of solar. We expect numerous solar utility PPA’s to be signed in the near-term.
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 Ohio, there is a significant volume of projects with direct PPA’s in the state.
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
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.