Since even Big Solar is now advertising for help with the huge amounts of renewable energy stimulus funds suddenly gushing forth from Steven Chu’s magnificent new DOE, it’s not surprising that local communities are also unsure on how to fund their renewable projects.

Here’s some help for them, that you might want to pass along:

Next Wednesday the DOE will run a webcast on on how to access low-cost financing using Clean Renewable Energy Bonds (CREBs) at 3:00PM EST on June 24, on “How to Use CREBs for Financing Renewable Energy Projects on Public Lands.”

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“Inslee’s legislation would require utilities — at the request of any new renewable energy facility owner — to enter into a 20-year fixed-rate power purchase agreement. Uniform national “renewable energy payment” rates would be set by the Federal Energy Regulatory Commission at levels that would provide a 10% internal rate of return on investment for available commercialized technologies in regions constituting the top 30^th percentile of renewable energy resource potential in the U.S..”

In plain English, this means that if you install solar PV panels on your home, the utility has to buy the electricity you generate at a higher rate than retail, guaranteeing you a return on your investment. Extending this power purchase agreement for 20 years gives everyone — especially those who want to invest in renewables or start a small business installing solar panels — assurance of return on their investment.

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