With $30M investment, Cuyahoga County could double solar power generation in five years

A $13-million “green bank” could allow Cuyahoga County to “double the amount of solar power generated” in five years, according to a study partly financed by the county government, Cleveland.com reports. That $13-million investment fund would allow developers to “borrow up to $17 million from conventional lenders and enable them to install solar panels on small businesses” and then sell the generated electricity to the businesses at fixed rates, according to the article. The study reports “smaller-scale solar developers struggle to finance such projects in the county because of tight profit margins and solar energy being more expensive than energy generated by coal and natural gas.” For more, read the full article

Project Finance, Renewable Energy, State Updates