Does Puerto Rico have a solar energy Resilience Fund?

Besides financing aid, the Energy Department also has a $1-billion Puerto Rico Energy Resilience Fund that President Joe Biden signed into law in late 2022 to supply rooftop solar panels to the territory.

What is solar financing in Puerto Rico?

Cooperativas are the financial institutions that communities in Puerto Rico traditionally use for a whole array of financial services. To date, however, most of the solar financing in Puerto Rico has come from U.S.-based solar companies.

Where will solar panels be built in Puerto Rico?

The projects will be built in the coastal communities of Salinas and Guayama in south Puerto Rico. The projects comprise 200 megawatts of photovoltaic solar panels and up to 285 MW of stand-alone battery energy storage capacity. The solar arrays will power about 43,000 homes, it said.

Can credit unions finance solar projects in Puerto Rico?

Our report highlights how Puerto Rico’s exponential growth in rooftop solar has been accompanied by a robust growth in locally chartered credit unions, called Cooperativas, offering financing alternatives for solar projects.

What grants are available for photovoltaic projects in Puerto Rico?

Up to 50% of installed costs are available for photovoltaic (PV) and wind projects in Puerto Rico through Tier II competitive grants. These grants are for projects over 100 kilowatts (kW) and up to and including one megawatt (MW). Projects that request less may also be considered, but priority is given to those requesting the maximum grant amount.

Who can install photovoltaic systems in Puerto Rico?

Only certified installers may install photovoltaic (PV) systems in Puerto Rico. In January 2010, additional regulations were passed requiring wind turbine installers to be certified as well in order to install wind systems.