Siemens Introduces Solar Power Purchase Program

Siemens (NYSE: SI) has introduced a Solar Power Purchase Agreement (PPA) program that allows customers to bring solar energy to state, commercial and industrial
properties without making an initial capital investment in solar
equipment.

The program is a joint offering by the Building Technologies Division of Siemens Industry and Siemens Financial Services.

Through the Solar PPA program, Siemens owns the solar equipment and builds the project
on the customer’s property. Customers work exclusively with Siemens for
the project’s entire lifecycle: from financing, design, construction and
implementation, through ongoing maintenance.

Solar power purchasing programs often generate electricity expense savings, in addition to
helping meet sustainability, clean energy and environmental goals. 

Siemens says the Solar PPA is particularly advantageous for public sector
entities, because schools and other government agencies are tax-exempt and therefor  are prevented from taking advantage of available federal tax
incentives for solar energy projects.

"Demand for solar power is on the rise, but for many of our customers the initial capital investment requirements were just too high," says Andreas Schierenbeck, president of the Building Technologies division of Siemens Industry, Inc. "With Siemens Solar PPA program both the financial and technical barriers associated with implementing solar energy are mitigated."