Credit fears hold back US solar securitisation deals
In a major breakthrough for renewable energy finance, California-based SolarCity has issued the first securities backed by distributed solar assets. But many hurdles remain before solar securitisation can truly take off, Alexander Osipovich finds
On November 21 last year, California-based solar power developer SolarCity pulled off a feat that had eluded other renewable energy firms for years: it completed the first publicly rated securitisation of distributed solar assets. In the transaction, it bundled together the revenue streams from about 5,000 solar panel arrays it had installed on people's rooftops, issued securities backed by those revenues, secured a BBB+ credit rating from New York-based Standard & Poor's (S&P) and sold them to
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