Greentech Media

And MMA Renewable Ventures announced Tuesday it has signed a deal to finance 14 solar-power projects at Macy’s stores. SunPower (NSDQ: SPWR) will supply the panels and install them.

MMA Renewable Ventures said it has more than $100 million worth of energy-efficiency projects and 100 megawatts of renewable-energy projects on the way. The company said it financed a total of 20 megawatts of new renewable-energy projects last year and ended the year with about 34 megawatts of solar projects under operation and development, at least five times more than what it had in 2006. 

And Open Energy Corp., which finances residential solar projects, on Monday announced its first agreement. The deal with Jon DeWald & Associates calls for Open Energy to finance and install 1.2-kilowatt solar-power systems on 47 town homes in Encinitas, Calif.

The news from MMA and Open Energy highlights the growth of the power-purchase agreement model, which finances solar-power projects by paying the upfront cost -- and selling the tax credits for the projects -- in exchange for an agreement that customers buy the resulting power.

In March, a Greentech Media report forecast that such agreements would account for three-quarters of U.S. commercial and industrial solar sales this year and next (see Power-Purchase Agreements to Spike). But later that month, AltaTerra partner Jon Guice, who co-authored the report, said the forecast would dive if renewable-energy tax credits aren’t extended (see Power-Purchase Agreements Could Lose Market Share).  

Hanis said all this news represents a "culminating effect" in the industry.

"There’s been a lot going on in the industry, and you’re seeing the culmination of many things that have been in the works for the last couple of years -- [state] renewable portfolio standards, companies and utilities wanting to diversity and guarantee their energy sources, public demand and energy prices," she said. "There also is pressure for some of these projects to get going while there is still [a federal tax credit], although everyone’s hoping for an extension."

Getting the tax credits renewed is key to continuing this rate of progress -- and news flow -- in the U.S. market, she said.