WASHINGTON, May 1, 2014 /PRNewswire/ -- Today the truSolar® Working Group announced the formation of the truSolar® Accreditation Body and adoption of the Solar Access to Public Capital (SAPC) commercial documents. truSolar® is integrating the SAPC commercial PPA terms with its Risk Screen and Criteria Methodology (RSCM), and will score deviations from these standard terms against BETA testing of projects during Q2.
The truSolar® Working Group was formed in 2012 to develop a uniform risk screen for non-residential solar development and finance. The industry gains from transaction efficiencies and deal cost reductions that follow with truSolar® standardization could be worth more than $500 million a year by 2018. Eliminating friction in the diligence and closing process can unlock billions of dollars of savings as solar becomes a trillion dollar asset class in the coming decade.
truSolar® has been collaborating with SAPC since its formation in 2013. Convened by the US Department of Energy's (DOE) National Renewable Energy Laboratory (NREL), SAPC aims to accelerate the securitization of solar assets and cash flows as secondary markets begin to play a material and positive role in the industry.
"Launching the Accreditation Body is well-harmonized with the efforts of SAPC," says NREL Senior Financial Analyst Michael Mendelsohn. "truSolar® will provide a robust, independent risk assessment methodology open to broad industry participation consistent with SAPC." Mendelsohn believes the Accreditation Body can play a valuable role in standardizing C&I project risk analysis and lowering associated due diligence and financing costs.
"truSolar® Working Group members are excited about the opportunity to take our collaboration with SAPC and the national labs to the next level," said Jon Creyts, Managing Director at Rocky Mountain Institute (RMI), which chairs the truSolar® organizational committee. RMI, with support from market-leading businesses throughout the solar industry value-chain, is leading formation in 2014 of the Accreditation Body. The national body will be an independent non-profit organization committed to wide-spread adoption of uniform, accessible and affordable risk scoring standards and rating criteria for non-residential solar projects.
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