NREL, banks craft plans for solar lending

Bankers and energy experts, working in conjunction with the Golden-based National Renewable Energy Laboratory, have formed a new group to help streamline financing of solar projects.

Spurred by the rising popularity of solar – the market jumped more than 40 percent from 2012 to 2013 – the group formed earlier this month to begin developing standardized loan documents and underwriting criteria for residential and commercial projects, according to NREL. More than 50 banks and industry organizations are part of the group, including Denver-based Vectra Bank.

“There are specific legal issues, underwriting…