Despite US Solar Incentives Decline, Innovative Solar Providers Increase Growth
GeoPeak Energy Receives Top Commercial Award for Solar Excellence even as Incentives Decline
(PRWEB) May 16, 2012
In the recent months, federal and state solar incentives throughout the US have been declining. In 2011, the solar industry saw the expiration of the Federal Solar 1603 Cash Grant program, which was the lifeblood of commercial solar funding across the country. Further compounding the issue, many states such as New Jersey and Pennsylvania have seen the values of their Solar Renewable Energy Credits (SRECs) decline. In response, most states have introduced new legislation to stabilize the SREC market and encourage growth in the maturing solar industry.
With the current state of incentives, the past influx of panel manufacturers and solar providers have begun to consolidate, with a few leading companies emerging. The successful solar companies are utilizing the remaining incentives, such as the Federal Investment Tax Credit and Accelerated Depreciation, to create customized structured financing options for businesses pursuing solar. GeoPeak Energy, a solar provider for Fortune 1000 organizations, businesses, and homeowners, recently received an award as the top commercial solar provider for its financing programs, innovative designs, and customer satisfaction.
“A key component of GeoPeak’s success is our ability to provide our customers with unique project funding options, Power Purchase Agreements, and solar lease programs, which utilize structured financing and government incentives. We serve customers in New Jersey, New York, Pennsylvania, Massachusetts, Connecticut, Maryland, Delaware and Florida, and are continually rated number one for our outstanding customer satisfaction,” stated AJ Javan, Chief Strategy Officer of GeoPeak Energy.
In anticipation of the new state legislation supporting solar, East Coast states have already seen a surge in solar installations. New Jersey recently set the record for the largest high-efficiency solar power system installed for a single family home in the country. Massachusetts has a new distinct SREC program that prevents the credits from being devalued and provides a minimum floor price for added stability. Maryland also released a SREC program modeled after the success of other states SREC programs. As the solar industry continues to mature towards wide-spread adoption, solar providers that offer diverse financing mechanisms will continue on the slope of enlightenment in the renewable energy industry.
About GeoPeak Energy
GeoPeak Energy, an Elite SunPower Dealer headquartered in New Jersey, designs, finances, installs, and services all its solar systems with in-house, certified engineering and installation teams. The company delivers solar solutions in New Jersey, New York, Pennsylvania, Massachusetts, Connecticut, Maryland, Delaware and Florida. GeoPeak Energy’s custom design and engineering expertise enables its customers to maximize solar energy output and significantly increase savings. Additional information about solar energy solutions are available on our website at http://www.geopeak.com
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