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Presenting a live 90-minute webinar with interactive Q&A - - PowerPoint PPT Presentation

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Presenting a live 90-minute webinar with interactive Q&A Structuring Solar Development Financing, Leasing and Operating Agreements for Commercial Properties Reducing Legal Risk and Maximizing Client Income Opportunities Through Strategic Use

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Structuring Solar Development Financing, Leasing and Operating Agreements for Commercial Properties

Reducing Legal Risk and Maximizing Client Income Opportunities Through Strategic Use of Financing, Tax Incentives and Documentation

Today’s faculty features:

1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific

The audio portion of the conference may be accessed via the telephone or by using your computer's

  • speakers. Please refer to the instructions emailed to registrants for additional information. If you

have any questions, please contact Customer Service at 1-800-926-7926 ext. 10.

THURSDAY, SEPTEMBER 19, 2013

Presenting a live 90-minute webinar with interactive Q&A

Jack Fersko, Partner, Greenbaum Rowe Smith & Davis, Woodbridge, N.J. Jamie F . Hahn, Managing Director, Solis Partners, Manasquan, N.J. Mark S. Hennigh, Founding Partner, Greene Radovsky Maloney Share & Hennigh, San Francisco

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FOR LIVE EVENT ONLY

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FOR LIVE EVENT ONLY

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Program Materials

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FOR LIVE EVENT ONLY

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Strafford CLE Webinar/Teleconference

  • September 19, 2013 •

Jack Fersko

Greenbaum, Rowe, Smith & Davis

Jamie F. Hahn

Solis Partners

Mark S. Hennigh

Greene, Radovsky, Maloney, Share & Hennigh

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SLIDE 6
  • Why Solar?
  • Solar Generation Systems
  • Incentives
  • Transaction Structure
  • Project Documents
  • The Relationship Piece

6 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • Energy Savings
  • Incentives
  • Environmental Benefits
  • Marketing Value
  • Greening your building
  • Competitive advantage

7 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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SLIDE 8
  • Primary components of a solar PV energy

system are as follows:

  • Solar photovoltaic modules (panels)
  • Mounting hardware
  • Inverter(s)
  • Disconnects
  • Meter
  • Data monitoring system

8 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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SLIDE 10

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  • Roof mounted (steep and low slope roofs)
  • Ground mounted (fixed, single, dual axis

trackers)

  • Parking lot canopy mounted

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 Solar electricity produced

is delivered directly to the electrical distribution system

  • r grid

 Utility / electricity supplier enters into PPA to off-take (purchase) the power Renewable energy credits (RECs) are usually bundled with the electricity (kWh) sold

 Solar electricity is delivered

directly to a business or residence  If power is not needed at the time of production, electricity goes back to grid via net

metering (customer receives

kWh credit on next billing cycle) Renewable energy credits (RECs) are un-bundled

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VS.

Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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SLIDE 19
  • Federal Tax Incentives
  • IRC § 48 - 30% Investment Tax Credit (ITC)
  • Depreciation - 50% Bonus Depreciation

19 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • State Incentives
  • Tax Credits 24 States
  • Sales Tax Incentives 28 States & Puerto Rico
  • Renewable Portfolio Standards 16 States &

Washington D.C.

20 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • California Solar Initiative
  • Property Tax Exclusion for Solar Energy

Systems

  • Feed-In Tariff
  • PACE (Property Assessed Clean Energy)

Financing

  • AB 32

21 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • The following apply to all qualifying solar

electric generation facilities in New Jersey

  • SRECs – 15 Yr. Production-Based Incentive
  • Net Metering
  • Additional benefits:
  • Offset NJ’s higher than average electricity costs

for 25+ years

  • Property tax exempt
  • Sales tax exempt

22 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • First Party Ownership
  • Property owner/operator owns system, usually

through affiliate

  • Engineering, Procurement and Construction (EPC)

Agreement

  • Third Party Ownership
  • Power Purchase Agreement (PPA) and Site Lease
  • Independent third party owns system; sells power to

building owner/operator via PPA

  • Independent third party owns and leases system to

building owner/operator via equipment lease

23 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • What will the system cost?
  • Financing
  • Energy savings
  • Incentives
  • Type of system
  • Terms of existing lease agreements
  • Land use issues

24 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • System design and engineering
  • Permits
  • Utility interconnect approvals
  • Federal and state incentive approval administration
  • Procurement of all materials
  • Construction and project management
  • Metering
  • Testing and commissioning
  • Price
  • Building structure
  • Roof system
  • Electrical switch gear within the facility
  • Upstream utility distribution system infrastructure
  • Risk of Loss
  • Insurance
  • Warranties

25 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • Typical Equipment Warranties
  • Panels – 10 Yr. Workmanship / 25 Yr. Limited Power

Production

  • Inverter – 10 Yrs. w/ option for 20 Yrs.
  • Racking – 10 Yr. Materials and Workmanship
  • Data Monitoring – 5 Yr. Hardware / 5 Yr. Hosting

Services

26 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • Term
  • Price
  • Take or Pay
  • Insurance
  • Removal / Relocation
  • Environmental Attributes
  • Green Tags, Renewable Energy Credits, etc.

27 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • Premises
  • Roof
  • Ground
  • Inverter location
  • Access
  • Storage/lay-down areas
  • Term
  • Tie to PPA
  • Cross-default

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  • Obligation to Build
  • Rent
  • Use

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  • Insolation issues
  • Building/roof issues
  • Building structure
  • Roof

Age Condition Warranty Continuation of warranty

30 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • Free O&M for specific period
  • What is included?
  • Comport with requirements for warranty

continuation

31 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • Between Property Owner, System Owner and

Lenders

  • Property Owner Lender

Consent to system installation SNDA Comply with PPA in event of foreclosure

  • Provider Lender

Confirm personal property Property Owner and Mortgagee Waiver

32 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • Performance coverage
  • Business Interruption coverage
  • Lost energy sales
  • SRECs or other state incentives
  • Tax value of accelerated depreciation
  • Treasury Grant/Investment Tax Credit

33 Strafford CLE Webinar/Teleconference • SEPTEMBER 2013

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  • Legislative outlook
  • Panelists’ predictions

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Jack Fersko Greenbaum, Rowe, Smith & Davis Woodbridge, NJ jfersko@greenbaumlaw.com 732.476.3354 Jamie F. Hahn Solis Partners Manasquan, NJ jhahn@solispartners.com 732.722.5917 Mark S. Hennigh Greene, Radovsky, Maloney, Share & Hennigh San Francisco, CA mhennigh@greeneradovsky.com 415.981.1400