Tuesday, July 9, 2013

Solar Lending Heats up for N.C. Banks

In the last couple years, North Carolina-based banks have put tens of millions of dollars into solar and other alternative energy projects. After installing a 1.7- megawatt solar array atop its corporate data center, Raleigh-based First Citizens Bank has financed $12 million for nine solar projects since 2011. State and federal tax credits for alternative energy have also attracted investors looking to offset tax liability. Solar developers say financial institutions are a leading source of equity financing. Read more »