With the ability to provide 100% financing, solar has become a better way to pay for electricity. US SolarWorks has developed a variety of financing options backed by trusted investment partners.
We work with customers to find the best financing solution to fit your business.
Summaries of solar-specific financing options are listed below.
Power Purchase Agreement (PPA)
A Power Purchase Agreement (PPA) is typically a 20-year contract where an end user agrees to purchase each unit of power the solar system produces. Customers who are pursuing solar will find that a PPA allows them to have all the environmental and marketing benefits of their solar panels while simultaneously lowering their electric expense by 10% or more.
This is typically a 7-10 year term that is essentially a rental of a solar array. When the term is up the customer has the opportunity to buy the system for $1 at the end of the term. Capital leases of commercial solar panels require no down payment and are very similar to conventional financing.
These are typically 7 to 10-year terms that allow companies to sell the tax credits and incentives from solar panel installation. Operating leases can also be bought at the end of their term for a fair market value.
Rhode Island Commercial PACE
The Commercial Property Assessed Clean Energy, or C-PACE, is a finance mechanism that allows commercial properties in Rhode Island to invest in renewable energy and energy retrofits. C-PACE is essentially a loan that is paid on a tax assessment. C-PCAE assessments can have terms of up to 20 years, with competitive rates.
The benefit of a C-PACE loan is that it ties the investment to property and not the business. If a business relocates at any point during the repayment period, the assessment stays with the property and not the business.
Want to learn more about financing and have us guide you through the best options for your business?
Get in touch with the form below or give us a call at 774-208-3155