Tag Archives: green bonds

Brad Lofton leaving Myrtle Beach, SC

Looks like Horry County, SC stuck to its initial three-year offer, both for Lofton, and for millage to fund his development authority there. There are things the newly-renamed Valdosta-Lowndes Development Authority could do to let sunshine turn Lofton’s local land legacy green.

Jason M. Rodriguez and Amanda Kelley wrote for Myrtle Beach Online yesterday, Brad Lofton leaving Myrtle Beach Regional Economic Development Corporation,

Membership to the EDC increased earlier this year, but revenue from the membership decreased by nearly $60,000, impacting the organization’s marketing services and more.

Loton has had many projects succeed, and met some challenges during his time in Horry County.

Earlier this month Continue reading

Green bonds for rooftop solar?

What if the Industrial Authority used its bond-issuing power to finance rooftop solar? And what if it combined that with utility-scale solar projects on its own industrial park lands, and for example at the airport, or at the new Withlacoochee Wastewater Treatment Plant?

Here’s the idea, in a report by Citi GPS, Energy Darwinism: The Evolution of the Energy Industry, October 2013, pages 48-49,

It is not just the technology that is evolving in the solar industry; the financing of solar projects, both residential and utility-scale is evolving quickly. The most notable development here has been in the form of solar leasing, whereby the rooftop panels are owned by a third party who effectively leases the rooftop from the home/factory/office owner, the latter receiving payment normally through a reduction in electricity bills paid for by the lessee. This provides the benefits of cheaper and cleaner solar electricity to the homeowner, whilst negating the need for the significant initial capital outlay. The panel owner or lessee earns their return via incentive mechanisms such as the U.S. Investment Tax Credit, and via the sale of the electricity back to the local utility. This financing mechanism has proved particularly successful in the U.S. and is gaining traction in the UK, with companies in other countries looking to follow suit.

This is what Southern Company CEO Tom Fanning suggested back in May that SO might do. But we don’t have to wait on Southern Company or Georgia Power.

At the utility scale level, the emergence of innovative financing vehicles such as green bonds Continue reading