WGL Holdings Inc. has signed an agreement to provide $30 million of project capital to Skyline Innovations for the financing and deployment of commercial-scale solar water heating systems in key markets nationwide.
Skyline Innovations, based in Washington, D.C., finances, installs and maintains solar water heating systems. Customers have no up-front costs and receive guaranteed energy savings by keeping a fixed percentage of utility bill savings. The remainder of the savings is shared with Skyline, the company explains.
‘Our operational model and patent-pending software enable us to achieve returns for project investors,’ says Zach Axelrod, gounder and CEO of Skyline Innovations. ‘Our partnership with WGL Holdings will broaden our reach and increase availability of our energy solution to the U.S. market.’