Mid-Atlantic’s Leading Solar Developer and Integrator Welcomed by State, Newark and University of Delaware Officials

NEWARK, Del., Sept. 30 – Standard Solar Inc., the Mid-Atlantic’s leading developer and integrator of solar electric systems, has expanded its footprint into Delaware and is looking to create green jobs and a portfolio of solar capacity serving businesses, academic institutions, homeowners, utilities and government agencies throughout the First State.

Standard Solar Chief Executive Officer Tony Clifford told a recent gathering of state, local and University of Delaware officials at the company’s new office in the Delaware Technology Park that Standard Solar and its partner, Pace Global Energy Services LLC, will provide access to “tax equity” financing, comprehensive project management and engineering services and a proven track record of efficiently adding value to the integration, design and installation of solar electric systems.

“We expect our Newark, Delaware office to grow and become largely self-sustaining with most major business activities staffed out of this office,” Clifford said. He added that solar energy stands to play a large role in the state’s economic and sustainability plans in part because of the state’s leadership in solar research and its efforts to create a public-private Sustainable Energy Utility. Delaware Gov. Jack Markell has consistently emphasized how important clean energy initiatives are to his administration.

Clifford added: “Delaware has a pro-solar vision, a vibe and an atmosphere that we want to be a part of. We are committed to the state; creating jobs here and growing a sustainable business that will contribute to the economy and foster a cleaner environment.”

Welcoming Standard Solar to Delaware were Alan Levin, Director of the state’s Department of Economic Development; Philip Cherry, Policy Director of Delaware’s Department of Natural Resources and Environmental Control; Newark Mayor Vance Funk; Steve Hegedus, Senior Scientist at the University and Policy Fellow at its Center for Energy and Environmental Policy; and Joyce Henderson from the University’s Career Services Center. Four students accompanied Henderson inquiring about Standard Solar’s internship plans and future employment opportunities, which were outlined by Standard Solar President Scott Wiater.

Tax equity financing is enabled by the reliability of solar revenue streams created by power purchase agreements and solar renewable energy certificates. Production tax credits enable investors to own solar electric systems and capture tax incentives. Consumers receive the benefits of lower cost clean power making it possible for electricity users to purchase electricity at predictable cost by hosting, but not necessarily owning, the solar panels and other equipment that generate the electricity. Accessing tax equity financing is one of the many ways that Standard Solar is working with Pace Global Energy Services LLC.

For more information, please contact: Jim Pierobon at jim.pierobon [at]standardsolar.com; 301-944-1533.