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Solamon Energy Corporation - Solar PV Solutions for Sunbelt Nations

Article: What Do Solar Investors Want?

Posted onMay 4, 2012underIndustry News
(Renewable Energy World) — Investors can appear downright hostile to the idea of putting money in solar manufacturing these days, but their attitude toward the business of financing and installing solar panels is another story. So, the Thursday announcement that Clean Power Finance has created a $300 million residential solar fund serves as the latest reminder as to who are the darlings of investors these days.

San Francisco-based Clean Power Finance, founded in 2007, offers leases and sales software for installers to market and sell to consumers. It’s teamed up with a Morgan Stanley subsidiary, MS Solar Solutions, and developer Main Street Power to create this new fund, which will initially finance installations in California and Arizona. Zions Energy Link, created by Zions Bancorporation in 2010, is the first loan provider to the fund. Zion, which runs a group of banks including the Bank of Arizona, has worked with Arizona Public Service to fund installations by SolarCity.

Solar leases have become a popular way for consumers to use solar electricity without having to pay the expensive upfront cost of installing solar panels and other equipment. Homeowners will still see solar panels installed on their rooftops, but they don’t own the equipment and pay instead a monthly fee for the solar electricity produced by the panels. That fee should amount to...

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Brightbridge Wealth Management Headlines: DuPage women get 10 years each in mortgage scam

Two DuPage businesswomen who illegally used money from customers at their Wheaton title company for their personal use each were sentenced today to 10 years in prison and ordered jointly to pay $1.8 million in restitution.

Pamela Williams, 58, of Darien, and Patricia Johnson, 57, of Naperville, pleaded guilty in April to 10 counts of theft, stemming from their operation of the PLM Title Company from 2005 to 2008.

The pair would facilitate homeowners seeking a refinanced mortgage and were supposed to take the funds issued by a new mortgage lender and pay off a customer’s first mortgage.

Assistant DuPage County State’s Attorney Diane Michalak said that the pair “ran the business into the ground” and used their customers’ money to pay off credit cards bills and pay for personal expenses, like Williams’ daughter’s wedding at a DuPage country club, upkeep of a trailer at a Indiana lakeside, and refurbishing Johnson’s home kitchen with new cabinets.

Michalak said that many of their former clients still own double mortgages on their homes and have not recovered from their financial loss, while some have received insurance settlements after many months of paying double mortgages.

“You should be ashamed of your pitiful, disgusting, shameful behavior,” said Judge John Kinsella. “One iota of common sense in your brain should have made you realize what you were doing.”

Mark Kowalczyk, Jo...