Sharp Electronics Corp.’s energy systems and services group is now offering financing for commercial and industrial (C&I) solar PV systems coupled with its SmartStorage energy storage solution.
The company says its new program is dedicated to $0 down financing for solar projects integrated with Sharp’s SmartStorage behind-the-meter energy storage system and is available to developers and integrators, as well as end users. During its initial phase, program funding of $25 million is expected to support the deployment of more than 12 MW of hybrid systems within the next 12 months.
“Financing is a critical piece to the advancement of the energy storage industry,” said Carl Mansfield, general manager and founder of the energy systems and services group. “By offering this precedent-setting financing mechanism broadly to the industry and making it available to project development allies, we are able to equip developers with readily available financing for hybrid solar-storage systems.”
According to Sharp, the SmartStorage system is designed to work synergistically with solar as part of an integrated hybrid energy solution. The solar component reduces facility energy usage while the SmartStorage component reduces facility peak demand usage, both resulting in savings on monthly utility bills.