Apple deal, tax change could spark corporate solar stampede

solar appleApple Inc’s deal to buy nearly $1 billion of power from a massive First Solar Inc plant could be the first of a stampede of contracts driven by the looming change in a solar tax incentive that makes such projects particularly attractive.

Together with a sharp drop in the cost of solar power and corporate efforts to rack up green credentials, the expiring tax subsidies have large energy purchasers taking a hard look at buying solar under big long-term contracts.

Apple on Tuesday said it would spend $848 million over 25 years to buy 130 megawatts of electricity from a 280 MW plant – the solar industry’s largest-ever corporate power purchase agreement, or PPA.

Apple’s major financial commitment gives solar a level of mainstream credibility that should entice other new customers.

 




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