OCT. 12: SOLAR ROOF DEVELOPMENT’S ADAM PUTTER TO MODERATE AT ICSC IDEA EXCHANGE
Panel Discussion will focus on “Crunch Time for Solar”
PHILADELPHIA, Pa./FORT LEE, N.J. – October 5, 2011 – (RealEstateRama) — Adam Putter, president of Solar Roof Development, will moderate a panel titled “Crunch Time for Solar,” slated for Wednesday, October 12, 2011 at the Pennsylvania Convention Center. The discussion is part of the three-day 2011 Pennsylvania/New Jersey/Delaware Idea Exchange, produced by the International Council of Shopping Centers. Founded in 1957, ICSC is the global trade association of the shopping center industry, with over 50,000 members in more than 80 countries.
“The seminar is for the benefit of property owners, developers, and non-profits. Our panel will discuss the urgency of locking in the excellent solar benefits in 2011 while they still can,” said Putter, whose Fort Lee, N.J.-based company provides energy evaluations of return on investment, competitive bidding for equipment and installation, exploration of financing options and tax incentives, and counseling during contract negotiations. “We will also focus on the issue of pricing for Solar Renewable Energy Certificates [SRECs].”
“The federal Renewable Energy Grant program, which provides 30 percent cash rebates for qualified projects and other benefits, is scheduled to expire at the end of 2011, with no guarantee that it will be renewed,” said Putter. “For that reason, it is important for installations to be completed by the end of the year to lock in those long-term benefits now.”
The State of New Jersey also has excellent solar energy incentives, including rebates based on energy-efficiency measures and SRECS that can be utilized as a recurring revenue source to help finance projects. “However, the pricing for SRECs has fallen dramatically over the past several months, because the utilities are only required to buy a certain number,” said Putter. “For that reason, there is a great deal of volatility at play, and it is another key issue that needs to be discussed.”
“Specifically, we will focus on how to hedge risk and still make deals profitable at lower SREC prices,” he said.
Scheduled to join Putter on the panel are Tim Babjak, regional vice president of TD Bank; Catherine E. Bostock, an attorney with the firm Cole, Schotz, Meisel, Forman & Leonard; and Anthony DiGiacinto, senior tax manager with EisnerAmper.
“We are prepared to discuss all of the complicated legal, tax and financial issues pertaining to solar installations,” said Putter. “There is a distinct sense of urgency, and our panel could not be more timely in that regard.”
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