Export file:


  • RIS(for EndNote,Reference Manager,ProCite)
  • BibTex
  • Text


  • Citation Only
  • Citation and Abstract

Financing options and economic impact: distributed generation using solar photovoltaic systems in Normal, Illinois

1 Department of Technology, Illinois State University, Normal, IL, 61790-5100 USA
2 Department of Economics, Illinois State University, Normal, IL, USA

Topical Section: Energy Policy and Economics

Due to increasing price volatility in fossil-fuel-produced energy, the demand for clean, renewable, and abundant energy is more prevalent than in past years. Solar photovoltaic (PV) systems have been well documented for their ability to produce electrical energy while at the same time offering support to mitigate the negative externalities associated with fossil fuel combustion. Prices for PV systems have decreased over the past few years, however residential and commercial owners may still opt out of purchasing a system due to the overall price required for a PV system installation. Therefore, determining optimal financing options for residential and small-scale purchasers is a necessity. We report on payment methods currently used for distributed community solar projects throughout the US and suggest appropriate options for purchasers in Normal, Illinois given their economic status. We also examine the jobs and total economic impact of a PV system implementation in the case study area.
  Article Metrics

Keywords solar photovoltaic; distributed generation; community solar; job creation

Citation: Jin H. Jo, Jamie Cross, Zachary Rose, Evan Daebel, Andrew Verderber, David G. Loomis. Financing options and economic impact: distributed generation using solar photovoltaic systems in Normal, Illinois. AIMS Energy, 2016, 4(3): 504-516. doi: 10.3934/energy.2016.3.504


  • 1. DOE (2014) Photovoltaics. Retrieved from Office of Energy Efficiency and Renewable Energy: www.energy.gov/eere/sunshot/photovoltaics.
  • 2. EIA (2013) Costs in the Buildings Sector. Retrieved 2014, from Energy Information Agency: http://www.eia.gov/analysis/studies/distribgen/system/.
  • 3. City of San Antonio (2009) Mission Verde Building a 21st Century Economy.
  • 4. Center for Sustainable Energy California. (2013). California Public Utilities Commission California Solar Initiative Program Handbook April 2013. California Public Utilities Commission.
  • 5. Barbose G, Naim Darghouth (2015) Tracking the Sun VIII, The Installed Price of Residential and Non-Residential Photovoltaic Systems in the United States. Lawrence Berkeley National Laboratory. Available from: https://emp.lbl.gov/sites/all/files/lbnl-188238_1.pdf.
  • 6. NREL (2012) Residential, Commercial, and Utility-Scale Photovoltaic (PV) System Prices in the United States: Current Drivers and Cost-Reduction Opportunities. NREL.
  • 7. DOE (2011) Solar Powering Your Community: A Guide for Local Governments. Available from: http://www.growsolar.org/wp-content/uploads/2012/06/SolarPoweringYourCommunity.pdf.
  • 8. Dean J, Smith-Drier C, Hawthorne W (2011) Integrating Photovoltaic Systems into Low-income Housing Developments. U.S. Department of Energy, Energy Efficiency and Renewable Energy. DOE.
  • 9. EPA (2014) Solar Power Purchase Agreements. Retrieved from EPA: www.epa.gov/greenpower/buygp/solarpower.html.
  • 10. NREL (2015) Community Shared Solar: Policy and Regulatory Considerations. Available from: http://www.nrel.gov/docs/fy14osti/62367.pdf.
  • 11. SEIA (2013) Shared Renewables/Community Solar. Retrieved from Solar Energy Industries Association: www.seia.org/policy/distributed-solar/shared-renewablescommunity-solar.
  • 12. DSIRE (2013) Direct Cash Incentives for Solar Projects. Retrieved from DSIRE Solar: www.dsireusa.org/userfiles/image/summarymaps/solardirectincentivesmaps.gif.
  • 13. PACENow (2014) List of PACE programs. Retrieved from PACENow Financing Energy Efficiency: www.pacenow.org/resources/all-programs/#top.
  • 14. USDA (2013) Rural Energy for America Program. Retrieved from USDA: www.rurdev.usda.gov?BCP_ReapResEei.html.
  • 15. The Solar Foundation (2014) National Solar Jobs Census 2014. The Solar Foundation.
  • 16. Croucher M (2011) Which State is Yoda? Energ Policy 42: 613–615.
  • 17. Loomis DG, Jo JH, Aldeman MR (2016) Economic Impact Potential of Solar Photovoltaics in Illinois Renewable Energy. Renew Energ 87: 253–258.    
  • 18. The Solar Foundation (2013) An Assessment of the Economic, Revenue, and Societal Impacts of Colorado's Solar Industry. The Solar Foundation. Solar Foundation.
  • 19. Jo JH, Loomis DG, Aldeman MR (2013) An Assessment of Optimum Penetration of Utility-Scale Grid-Connected Solar Photovoltaic System Deployment in Illinois. Renew Energ 60: 20–26.    
  • 20. Jo JH, Rose Z, Cross J, et al. (2015) Application of Airborne LiDAR Data and Geographic Information Systems (GIS) to Develop a Distributed Generation System for the Town of Normal, IL. AIMS Energy 3: 173–183.    
  • 21. IMPLAN (2013) What is IMPLAN. Retrieved from IMPLAN: www.implan.com/v4/index.php?option=com_content&view=article&id=282:what-is-implan&catid=152:implan-appliance-&Itemid=2.
  • 22. NREL (2015) JEDI: Jobs and Economic Development Impact Model Retrieved from NREL: http://www.nrel.gov/docs/fy15osti/64129.pdf.
  • 23. Glasmeier A (2014) Living Wage Calcuation for Mclean County, Illinios. Retrieved 2014, from Poverty in America Living Wage Calulator: livingwage.mit.edu/countries/17113.
  • 24. Constantine S (2013) Distributed Generation Solar in California, Framework for Policy and Regulation Oversight in the Post-California Solar Initiative Era, California Center for Sustainable Energy, San Diego, CA. Available from: https://energycenter.org/sites/default/files/docs/nav/policy/research-and-reports/Distributed_Generation_Solar_in_California.pdf.


Reader Comments

your name: *   your email: *  

Copyright Info: 2016, Jin H. Jo, et al., licensee AIMS Press. This is an open access article distributed under the terms of the Creative Commons Attribution Licese (http://creativecommons.org/licenses/by/4.0)

Download full text in PDF

Export Citation

Copyright © AIMS Press All Rights Reserved