“In the Valley, people say we’re behind but we’re advancing on solar,” said Keller, the owner of Harlingen-based Kelteck Heating & Cooling who’s worked on solar energy projects for about 15 years.
New Jersey’s PSE&G (NYSE: PEG ) has been at the forefront of solar financing, which lends money to customers to cover up to 60% of the total cost. Individuals can pay back the loan over 10 years with cash at 6.5% interest or renewable-energy credits, and PSE&G is pre-approved by regulators to recover all costs for its project.
“It’s definitely the technology of the future,” Keller said. “The technology has come down so much in price that the general public can take advantage of these systems. It’s already happening.”
The satellites would spend their lifetime collecting the sun’s rays through individually pointed thin-film mirrors. Energy would be converted across a large radio frequency aperture and transmitted via a microwave beam to receptors on Earth.
If you’re looking to raise the roof on your own solar system, it’s best to head west or to New England. While many states remain ambiguous on PPA support, six states are openly opposed to third-party solar PPAs.
“We have clear examples of the success of solar in the Valley,” Metzger said. “There’s a lot of demand and interest in it. It’s a great way to move into the 21st century to get away from dirty energy.”