kWh Analytics Releases Orange Button Translate to Streamline Data Sharing

Originally posted on Solar Power World and BusinessWire.

kWh Analytics, the market leader in solar risk management, today announced the release of Orange Button Translate, the first piece of software designed exclusively to support the U.S. Department of Energy Solar Energy Technologies Office’s (SETO) Orange Button data standards.

Orange Button Translate streamlines data sharing in the market by facilitating the transmission of solar data between developers, investors, and other key stakeholders. This tool is the culmination of a two year award from the DOE, and it supports Orange Button’s goals of reducing transaction costs and increasing bankability.

“kWh Analytics has built and maintains the most comprehensive performance database of solar assets in the United States,” said Jason Kaminsky, COO of kWh Analytics. “We are proud to leverage our experience working with solar big data in support of the adoption of Orange Button along with the Department of Energy, NREL, SEPA, and SunSpec Alliance.”

“Orange Button Translate will improve data sharing throughout the solar value chain and will help reduce solar soft costs as the Department of Energy and the solar industry have envisioned,” said Aaron Smallwood, Senior Director for Technical Services at the Smart Electric Power Alliance (SEPA). “This is the culmination of years of work by the project teams and the solar industry, and will quicken the transition to a more clean and modern grid.”

Orange Button is supported by the solar finance community, including large banks like Wells Fargo.

“Standardized data will reduce time, cost, and industry inefficiencies,” said Jon Previtali, Director of Technology and Technical Services for Wells Fargo’s Renewable Energy & Environmental Finance team. “With Orange Button Translate, kWh Analytics has moved the industry forward with their advanced data capabilities. Wells Fargo is a proud supporter of the Orange Button initiative.”

Orange Button Translate is free and available to the public. More information can be found here: kwhanalytics.com & translate.kwhanalytics.com.

kWh Analytics receives 2018 Finance Innovation Award at the Global Climate Action Summit

Originally posted in Solar Power World.

kWh Analytics was awarded the 2018 Finance Innovation Award at the Global Climate Action Summit (GCAS) for its invention of the Solar Revenue Put, a credit enhancement that de-risks the performance of solar power plants, enables investors to deploy more capital into solar assets and reduces the cost of solar.

Dan Carol, the Senior Advisor of Infrastructure and Energy for the Office of Governor Jerry Brown, presented kWh Analytics team member Sarah Matsui with the Global Climate Action Summit’s 2018 Finance Innovation Award.

 

The GCAS is an annual gathering co-chaired by Jerry Brown, Governor of California, and Patricia Espinosa, Executive Secretary of the U.N. Framework Convention. The Summit celebrates “the extraordinary achievements of states, regions, cities, companies, investors and citizens with respect to climate action.”

GCAS’s Friday Finance Roundup focused on bringing climate finance to scale and featured speakers David Ige, Governor of Hawaii; Danny Kennedy, CEO of CalCEF; and Richard Kauffmann, Chairman of Energy, Office of the Governor of New York.

Concluding GCAS’s Friday Finance Roundup, kWh Analytics was recognized with the Finance Innovation Award for improving solar project economics and accelerating the growth of the solar industry.

“The technological solutions needed to address climate change already exist, today. Now we need the capital to deploy those technologies at scale,” said D. Van Skilling, former CEO of Experian. “kWh Analytics is unlocking that capital by providing investors with the data they need to invest confidently in renewable energy technologies, similar to the role that Experian serves in consumer credit investments.”

“The world desperately needs novel solutions to real problems,” added Chuck Wallace, co-founder of Esurance. “We need more solutions like the Solar Revenue Put. The importance of the Solar Revenue Put to our local, national and global communities in accelerating the adoption of clean energy and reducing climate change is obvious.”

“The monumental problem of climate change is being answered by many of the world’s most talented and tenacious teams,” said Richard Matsui, Founder and CEO of kWh Analytics. “We are honored to be recognized for delivering an impactful solution at this critical time. We will continue to realize our mission of “More solar through better data” by bringing together the best of data science, software development, and financial engineering.”

kWh Analytics completes 50 MW Solar Revenue Put, backed by Swiss Re

Originally posted in Reinsurance News.

kWh Analytics, a leading solar risk management provider, has structured a Solar Revenue Put with global solar developer GCL New Energy and U.S solar project investor PNC Bank for 50 MW of solar farms, with risk capacity provided by Swiss Re Corporate Solutions.

The 4 solar farm projects, which belong to GCL New Energy, are located in Oregon and were financed with the Solar Revenue Put protecting cashflows.

kWh Analytics used its proprietary actuarial model and risk management software (HelioStats) to develop the Solar Revenue Put, which is a credit enhancement that guarantees up to 95% of a solar project’s expected energy output, enabling financial institutions to more easily finance solar projects on terms more favourable to the sponsor.

The firm explained that the policy currently protects against shortfalls in irradiance, panel failure, inverter failure, snow, and other system design flaws.

“We have a global mandate to rapidly expand our investment portfolio of solar projects,” said Frank Zhu, Executive President of GCL New Energy. “To support us in this growth, we were pleased to have found efficient and reliable execution with our partners, PNC Bank and kWh Analytics.”

Brian Beebe, Head of North America Origination, Swiss Re Corporate Solutions, added: “We are bullish about solar, and Swiss Re is committed to providing innovative risk transfer solutions. kWh Analytics built the industry’s largest data repository, encompassing one-in-five American solar power plants, and owns the foundation upon which entirely new categories of risk management products will be built.”

Dick Rai, Manager of PNC Bank’s bank’s renewable energy financing arm, also commented: “Strong relationships are the cornerstone upon which we have built this business. We have long-standing relationships with both GCL New Energy and kWh Analytics, dating back to their respective entries into the U.S. solar market.”

kWh Analytics claimed that 40% of active lenders now value the Solar Revenue Put as a credit enhancement, with the Put now financing structures for solar portfolios ranging from thousands of residential rooftops to more than ten utility-scale plants.

Portfolios supported by the Solar Revenue Put are also securing, on average, debt sizing increases of around 10%, kWh Analytics added.