SOURCE: Martifer Solar

Martifer Solar

Martifer Solar USA - Solar Power Systems & Photovoltaic (PV) Solar Power

February 24, 2011 15:17 ET

Martifer Solar and RSB Funds Lower Costs for Public Entities Going Solar

DENVER, CO--(Marketwire - February 24, 2011) - The Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 ("The Act") signed into law last December represents a major piece of good news for an unlikely constituency: public and tax-exempt entities adopting solar. RSB Funds and Martifer Solar have come together to offer these same entities the opportunity to obtain solar through a third party ownership model, where the benefits provided by the Act are shared with the Host in the form of lower power costs.

The Act includes two important provisions that will create strong demand among socially responsible investors to invest in renewable energy projects even more than they are now. The 1603 Treasury Grant program allows for 30% cash repayments from the Department of Treasury (in lieu of a 30% Investment Tax Credit) on renewable energy projects placed in service through end-2011.

"Public entities and other tax-exempt organizations are not able to take advantage of the federal incentives that are a major part of financing large renewable projects," said Greg Bohan, CIO of RSB Funds. "The 1603 Treasury Grant program and accelerated depreciation schedule will motivate a lot of idle capital to go to work in this already attractive space, offering both the investment community and tax-exempt customers a substantial win-win."

RSBF provides 100% of the upfront costs of a solar system for its nonprofit and tax-exempt customers. The customer doesn't have any ownership responsibilities, nor any responsibility for the system other than to purchase the energy. Martifer Solar and RSB Funds are currently finishing one of the nation's largest public school installations for Colorado's Jefferson County Public School District.

"Solar systems can help to restore public entity budgets," said CEO of Martifer Solar USA, Raffi Agopian. "RSBF's low-profit finance model and Martifer's low installation costs make solar arrays a distinctly profitable mechanism to recover district funds and create opportunities for well deserved causes."

About Martifer Solar USA
Los Angeles based Martifer Solar USA, (www.MartiferSolarUSA.com) specializes in the design, engineering and installation of residential, commercial and industrial-scale photovoltaic (PV) electric systems and components.

About RSB Funds, L3C
Renewable Social Benefit Funds (RSB Funds) is an alternative energy company focused exclusively on bringing solar power to hospitals, schools, low-income housing projects and other governmental and tax-exempt entities (www.rsbfunds.com).