Question-and-Answer Session
Thank you. [Operator Instructions]. Steve O'Rourke, you may ask your question. Please state your company name.
Steve O'Rourke - Deutsche Bank Securities
[Technical Difficulty]... the credit issues that we see now, are you seeing any direct impact on projects being pushed out, or even canceled looking out into 2009? And secondly when you consider a higher cost of capital, what do you forecast or what do see for system prices having to come down maybe more than you previously thought 2009 to maintain project otherwise?
Thomas H. Werner - Chief Executive Officer
Thanks Steve. And Steve is with Deutsche Bank; so... as we loss you there for a moment Steve. I'm going to answer part of that and then turn it over to Howard Wenger.
So, what we expect on the second part of your question was what do we expect in terms of accelerated returns to back that systems pricing. I think more importantly we expect to add two things, new financiers coming to market and a mix of... a change in mix of system financing or ways these systems are paid for from PPAs, cash, where the PPA... a PPA structure which stands in place; you would expect on... it's very hard to predict in terms of what percent of IRR increased and what that impact will have on systems.
But you can think of it is that something more in the lines of changing mix than reducing systems' prices. And we'll see how that goes in time. Howard, do you want to comment further?
Howard Wenger - President of Global Business Units
Sure. Thanks for the question, Steve. We, as Tom mentioned, there are lot of new players actually in the finance spectrum. Manny covered that in part of his comments. And I'll be a little more specific including utilities.
We now can avail ourselves of the tax credit. And by utilities, I mean both the regulated and unregulated affiliates of the utilities. Banks, particularly international banks and insurance companies and developers who make it their living to develop projects and own assets. And I was in San Diego over the last few days and had no less than six private meetings with entities that came forward to schedule the meetings who want finance our rooftop and our large ground systems, including the big plum the PG&E 250 megawatt project.
So, there is more... a lot more credit and liquidity out there than HPI [ph], that's number one. And number two, there is definitely an impact from the financial issues that surround us right now in terms of higher IRRs, but we're seeing that mostly from our traditional sources of credit.
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