Solar EPC's - GreendayFinance

Solar Projects in the U.S. in 2024: Key Trends and Highlights

January 21, 2025 Categories: Contractors, EPC's, Solar EPC's Tags: Financing, renewable energy, solar projects root

As 2025 starts to unfold, the U.S. solar industry continues to experience rapid growth and transformation. From policy shifts to technological advancements, here are the key trends and highlights shaping solar projects which started in 2024 and are extending into this year.

Solar Projects in the U.S. in 2024: Key Trends and Highlights

Record-Breaking Installations
The U.S. solar market is on track for another record-breaking year, with an unprecedented number of installations projected across residential, commercial, and utility-scale sectors. Increased demand, coupled with supportive federal incentives like the Investment Tax Credit (ITC), is driving this momentum.
The Rise of Energy Storage Integration
Solar projects are increasingly paired with energy storage solutions to enhance grid reliability and provide round-the-clock power. This trend is particularly evident in utility-scale projects, where storage capacity has become a critical factor in securing contracts and meeting regulatory requirements.
Advancements in Solar Technology
2024 has seen significant advancements in solar panel efficiency and durability, reducing costs and improving project ROI. Bifacial panels, advanced inverters, and AI-driven energy management systems are gaining traction, enabling developers to optimize performance and maximize energy yields.
Policy and Regulatory Tailwinds
Federal and state policies continue to play a pivotal role in shaping the solar industry. Extensions of the ITC and new incentives for domestic manufacturing have bolstered investor confidence, while state-level renewable portfolio standards (RPS) are pushing utilities to expand their solar commitments.
Increased Focus on Corporate Sustainability
Corporations are driving demand for solar projects as part of their sustainability initiatives. Power Purchase Agreements (PPAs) and direct investments in solar assets have become popular strategies for companies aiming to meet carbon reduction goals and demonstrate environmental leadership.
Challenges in the Supply Chain
Despite growth, the industry faces challenges, including supply chain disruptions and rising material costs. Developers are navigating these hurdles by securing long-term supplier agreements and adopting innovative procurement strategies to maintain project timelines.
Expanding Access to Solar
Community solar programs and innovative financing models are expanding access to solar energy for underserved populations. This democratization of solar power is fostering inclusivity while creating new opportunities for developers.

Partnering for Success
At Greenday Finance, we’re committed to empowering EPCs and developers to navigate the evolving solar landscape. Our tailored financial solutions—from pre-qualified PPAs to fast-track funding, are designed to help you capitalize on the trends shaping 2024. With over a decade of experience, we’re your trusted partner in driving solar success.

Let’s shape the future of solar together. Contact Greenday Finance today to explore your funding options.

The Importance of Having the Right Funding for Your Solar Project

January 17, 2025 Categories: commercial, Contractors, EPC's, Solar EPC's Tags: Financing, renewable energy, solar projects Luis Casillas

The Importance of Having the Right Funding for Your Solar Project

In the rapidly evolving solar industry, having the right funding in place can mean the difference between a project’s success and its stagnation. For EPCs (Engineering, Procurement, and Construction firms) and developers, securing reliable and tailored financing solutions is not just an operational necessity but a strategic advantage.

Streamlined Execution for On-Time Completion Timely funding is critical to ensuring your solar project stays on track. Delays in securing financing can create bottlenecks, impacting everything from procurement schedules to project delivery timelines. With year-end deadlines and the race to lock in competitive tax incentives, such as the Investment Tax Credit (ITC), having funding ready to deploy ensures smooth execution and mitigates costly setbacks.
Unlocking Greater Project Value The right funding strategy can maximize the value of your solar project. Competitive financing options can reduce overall project costs, improve cash flow, and increase return on investment. For developers, this means more favorable terms for power purchase agreements (PPAs) and higher profitability, making projects more attractive to stakeholders and investors.
Adapting to Market Dynamics Solar projects operate in a dynamic market influenced by policy changes, technology advancements, and fluctuating energy prices. Flexible financing solutions allow EPCs and developers to adapt to these changes swiftly. Access to customized funding options, such as pre-qualified PPAs or fast-track financing, ensures your project remains viable and competitive in an ever-changing landscape.
Mitigating Risk Projects with insufficient or poorly structured funding are more vulnerable to unforeseen challenges, such as rising material costs, permitting delays, or labor shortages. By securing the right funding early on, you mitigate risks and ensure your project is financially resilient, even in the face of unexpected hurdles.
Building Long-Term Relationships Collaborating with the right financial partner goes beyond securing a single project’s funding. It opens doors to long-term relationships that can support future projects, provide expert guidance, and foster mutual growth. A trusted financial partner understands the unique needs of EPCs and developers, offering solutions tailored to your specific goals.

Partnering with Experts in Solar Financing At Greenday Finance, we specialize in providing customized financial solutions designed to meet the needs of EPCs and developers. Whether you need fast-track financing for a project nearing completion or pre-qualified PPAs to accelerate approvals, we’re here to help you navigate the complexities of solar project funding.

The right funding isn’t just about access to capital, it’s about aligning your financial strategy with your project’s vision and goals. Don’t let financing challenges hold you back from driving the solar revolution forward.

Let’s power your projects together. Contact us today to learn more about how Greenday Finance can support your solar initiatives.

Maximizing Project Success: 6 Key Considerations for EPCs and Solar Developers in the Solar PPA Market

July 15, 2024 Categories: Contractors, Solar EPC's Greenday Finance

Welcome to GreenDay Finance, your go-to resource for smart, sustainable
financial strategies in the renewable energy sector. Today, we’re diving into the
solar Power Purchase Agreement (PPA) market — a booming field for
Engineering, Procurement, and Construction (EPC) companies and Solar
Developers. With the global shift toward greener energy, it’s important to be ready to take advantage of solar PPAs. Here are six key considerations for doing that:

● Understand solar PPA financing: Solar PPAs are financial agreements
between a customer and a third-party developer for the installation and
operation of a solar energy system on the customer’s property. The developer
assumes responsibility for designing, permitting, financing, and installing
the system. The customer agrees to purchase the system’s electricity output
from the developer for a set period of time at a fixed rate. With GreenDay
Finance’s commercial PPAs, business owners yield immediate savings for
their commercial properties. They benefit from the guarantee of lower rates
for up to 25 years, which gives them control over electricity expenses with
predictable and reduced payments.

● Plunge into the solar PPA market: It’s estimated that the overall PPA
market size will reach $35.3 billion by 2033, growing at a compound annual
growth rate of 31.7% from 2023 to 2033. Solar project funding with PPAs
represents more than 51% of the share of PPAs. The solar PPA market is
expected to yield the highest growth among renewable energy PPAs,
according to the Solar Energy Industries Association (SEIA). PPAs are
popular because they require no upfront investments and yield immediate
savings.

● Manage risk like a pro: According to the Environmental Protection
Agency, PPA risks include more complex negotiations and possibly higher
transaction costs than buying solar photovoltaic (PV) systems outright. In
addition, property values might be reassessed, potentially increasing
property taxes. And site leases may affect a solar producer’s ability to
change property in ways that would improve a PV system’s performance.
Before you even move forward on the project, you face a number of other
risks. Projects can be delayed or canceled because of complications with
permitting and interconnection; this costs millions each year globally. “One
solution: Develop a comprehensive plan that addresses potential risks upfront. By demonstrating your readiness for PPA financing, you can instill
confidence in potential investors,” said Abigail Guzman, Origination &
Acquisition at GreenDay Finance. It’s also important to address inquiries
from investors promptly to build trust and rapport, she said.

● Keep an eye on policy: It’s important for EPC firms and Solar Developers
to stay updated on state and federal regulations that affect solar projects.
Regulatory risks can significantly impact project feasibility and financing.
Resources such as the Department of Energy’s local government guides and
SEIA’s policy updates can provide important insights into regulatory issues
and help developers address them.

● Focus on operational efficiency: In addition to identifying risks and
possible solutions, you should concentrate on efficient project management
to control costs. This includes accurate budgeting, forecasting, and
employing advanced project management tools. Solar project management
software can help contain costs by creating opportunities for better
organization, collaboration, and monitoring of project tasks and resources. In
the past, spreadsheets and paper documents were used to implement project
management. This software can be especially helpful to EPCs and solar
developers who are juggling multiple projects.

● Build long-term relationships: “Your network is your strength,” said David
Jimenez, Vice President of Sales at GreenDay Finance. “We all rely on each
other, and that’s where reliability comes in. Simply put, we need completed
projects to secure funding and, conversely, our contractor network counts on
an experienced financing partner for timely payments and overall security.”
It’s important to build a strong network and identify the right allies when
pursuing solar project funding. Working with these allies, you should also
provide clear and transparent information, which is essential to building
trust.

EPCs and Developers must adopt well-thought-out strategies in the rapidly
evolving solar industry to ensure project success. By understanding solar PPA
financing, managing risks effectively, optimizing costs, and building strong
relationships, you can enhance the financial viability of solar projects.

For personalized advice and financial solutions, contact GreenDay Finance to
discuss how to support your solar development needs. Schedule a consultation
today to take the next step toward maximizing your project’s success. We finance everything from commercial, industrial, small utility-scale, non-investment-grade off-takers, nonprofits, schools, houses of worship, and unique businesses that want solar.