Future Renewable Energy Enterprises, LLC

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Future Renewable Energy Enterprises, LLC

• Matthew J. Alestra
• Kevin M. Hart

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Overview

• F.R.E.E. History and Background
• F.R.E.E. Experience
• Renewable Energy Incentives
• Next step

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Matthew J. Alestra

• Electrical System Engineer
• Bachelors of Science degree in Electrical and
  Computer Engineering from Rowan University
• 4 Years of PV design and installation experience
  as owner of Systems of Apollo, LLC
• New Jersey Clean Energy Program approved
  residential and commercial installer

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Kevin M. Hart

• Owner of Future Solutions Contracting, LLC
• Established in 2003
• Employs 16 full time employees
• 2008 revenues of 3.85 million
• Commercial, Industrial, and Residential
  applications

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F.R.E.E advantages

• Single point of contact
• Feasibility study and market research
• System design and consultation
• Paperwork filings (local and federal)
• Project funding consultation and modeling
• Structural and engineering analysis
• Installation service
• SREC brokerage
• Lower price point with single contract
• Knowledge base
• Electrical engineering and design background
• Construction and structural background
• Banking partners

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F.R.E.E experience

• Completed projects
• gt88kW commercial installations
• gt32kW various residential installs
• 102 kW contracted for installation
• Project planning
• gt 1 MW cumulative in planning stages
• Transportation, churches, residential
  applications, etc
• References available upon request

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Industrial
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Commercial
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Commercial (contd)
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Ground Mount
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Residential
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Residential (contd)
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Renewable Energy Incentives

• 30 Federal Income Tax Credit
• Non-profit entities cannot take advantage of the
  ITC directly, however financial contracts can be
  structured to take advantage (i.e. PPA,
  leaseback, etc.)
• NJ Rebate
• 1.00 per kW installed for systems up to 50kW
• Over 50kW is not eligible for rebate
• Utility savings
• Solar Renewable Energy Certificates

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Solar Renewable Energy Certificate

• An SREC is a tradable certificate used to drive
  New Jersey to meet their Renewable Portfolio
  Standard (RPS) requirements.
• 22.5 renewable energy in the grid by 2021.
• 2.12 of the 22.5 must be solar power
• The SREC sale price is based on the Solar
  Alternative Compliance Payments that utilities
  are mandated to pay in the state of New Jersey
• On September 12, 2007 the Board approved the
  following increase in the SACP and established an
  8 year rolling SACP Schedule. The schedule
  reflects a 3 annual decrease to account for an
  expected decrease in the cost of solar systems
  going forward and improved project economics

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Financial Structures

• Purchase
• Mainly for profit making entities that can invest
  in the technology and take advantage of the
  Federal ITC directly
• Lease-back
• Investors would purchase the system and lease in
  back to the host at a monthly payment. Similar to
  a purchase however banks are not typically
  willing to get involved so investors are brought
  in.
• Power Purchase Agreement (PPA)
• Host leases property to PPA provider who
  installs, owns, and operates the system
• Host pays PPA provider for system output at
  discounted rate per kWh

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What is the next step?

• Feasibility Study
• Determine most feasible locations for
  installation
• Determine most feasible financial structures for
  contracting
• Determine best system design options for maximum
  system efficiency

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References

• Experience
• http//www.njcleanenergy.com/misc/renewable-energy
  /photovoltaic-equipment-commercial-installers-0
• http//www.futuresolutionscontracting.com
• Solar Manufacturers
• http//www.suntech-power.com
• http//www.evergreensolar.com
• http//www.sharpusa.com/solar
• Inverter Manufacturers
• http//www.pvpowered.com
• http//www.sma-america.com
• http//www.satcon.com
• Racking Manufacturer
• www.unirac.com
• Financial Institutions
• www.pncbank.com
• www.thebeneficial.com
• www.tdbank.com