Constellation Energy to fund solar projects

Posted: 3:58 pm Tue, February 16, 2010
By Staff and Wire Reports

Constellation Energy Group announced it has committed $90 million to support the development of commercial solar energy systems.

In order to maximize the value of government renewable energy incentives, the $90 million set-aside will be available for customer-sited solar installations of 500 kilowatts or larger that begin construction before mid-year 2010.

Approximately $18 million of the funding has already been committed to projects soon to begin development in Maryland and New Jersey. Under the arrangement, Constellation will finance, design, construct and own a solar installation on a customer’s site, and sell the power generated to the customer, thereby relieving the client of upfront costs.