What We Do
Recursive Energy provides end-to-end project development, financing, EPC, and asset management services for medium and large-scale distributed energy projects across the United States and around the globe. We are technology neutral, deploying the best technology for each project. We listen to our clients, we approach each project with creativity and innovation to craft the best solution, and drive projects to successful completion and long-term operational performance.
Opportunity Assessment
Before any project stakeholders invest significant capital in a project, its viability should be assessed at an early stage. Recursive Energy is skilled in performing rapid, early-stage site assessments. Key elements of a Project Viability Assessment include:
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site control,
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site solar exposure, e.g. blockage of tree-lines on site perimeter,
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land suitability for the type of PV technology mounting systems,
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availability and suitability of nearby utility transmission or distribution interconnection points to handle a generation project of a defined size,
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ability of the site to qualify for required environmental and construction permitting,
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suitability of the site and stakeholders to qualify for various utility, state, and federal solar system incentives, and
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bank-ability of project stakeholders to ensure a successful project financing.
Engineering
Our expertly designed and engineered systems have demonstrated their reliability and performance over the past decade at PV installations across the country. Recursive designs are based on actual field experience and monitored data. We select robust, reliable equipment that will last. We recognize the best system is one that operates without problems – year after year.
Procurement
We are one of the largest independent solar EPC companies in the U.S., and we can offer the best choice of technologies for any project. We provide unbiased recommendations and search for the best match of equipment for any given application. With many megawatts of large PV projects underway at any given time, we have the global and local vendor partnerships necessary to ensure that market fluctuations or supply side issues do not hold up your project.
Construction
Recusive Energy executives have over 15 years of solar construction experience. We have developed a wide range of technical and logistical skills that give us a strong competitive edge. At the same time, we know the value of local support. We utilize local subcontractors, partnering our own project management and their local skilled labor to complete your project on time and within budget.
Solar Power - Design Build
Power Purchase Agreement
Project Finance
Financing Structures
Recursive offers three options to benefit from solar PV:
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Customer Cash Purchase – The customer self-finances a project, owning the project and making use of the energy generated by it.
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Power Purchase Agreement (PPA) – Our customer enters into a long-term agreement with Recursive to purchase the solar energy generated, with a savings over current electric rates, and with no capital outlay by our customer.
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Land Lease – For areas in the United States where the local utility offers to buy solar power from third parties, Recursive offers an attractive lease structure whereby a land or building owner is paid a long term lease fee for hosting a solar facility that is built and operated by Recursive.
Sponsor Equity
Recursive will typically be the “Sponsor Equity” on our PPA solar projects. For larger systems or systems who financing relies heavily on Solar Renewable Energy Credits, ACE will partner with a Sponsor Equity group to complete the capital requirements of the project.
Tax Equity
Typical PPA project finance involves significant “tax equity”, investors who are able to provide investment capital in return exchange for various tax incentives generated during the early years of projects. The tax incentives include the federal Investment Tax Credit (ITC) and accelerated depreciation benefits. Tax equity investors are usually large institutional investors, and occasionally other entities, with a tax liability sufficient to monetize the tax credits. Recursive works with entities such as US Bank and high net worth families for tax equity investment on Recursive projects.
Debt
The long life and proven technology of a PV system, the reliability of the sun, and the contracted cash flows provided by a PPA create an ideal asset for low-cost, long-term debt financing. Recursive works with major debt financiers including CIT Energy, Prudential Insurance Co, Key Bank, Seminole Financial, and Fidelity Insurance Co.
Industrial Revenue Bonds
For solar projects involving municipalities or municipally owned land, Industrial Revenue Bonds (IRBs) can lower borrowing costs. The vast majority of lifetime solar project costs is up-front capital cost. Operations and asset management cost relatively little. As such, lowering the borrowing cost of capital has a significant impact on lifetime cost. IRBs are a great way to accomplish this, and Recursive is the right partner to make it happen.
