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Financing Options

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There are several options to going solar and we can provide all of them.


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Financing Options

 

Power Purchase Agreements (PPA’s)

Power Purchase Agreements (PPA’s) are by far the most popular way for businesses to Go Green. Through a PPA, your business has no upfront costs. Let me repeat that, NO UPFRONT COSTS. You also have no risk associated with the system. Here’s how it works:

A PPA Provider (usually an investment group), after completing and approving a site assessment, will purchase all of the components for the array and install them on your roof or adjacent property. You will agree to lease your rooftop or adjacent property to them for the sum of $1.00 per year. You will also agree to purchase all of the energy the solar array produces for a fixed number of years (usually 20 years) at a significantly reduced rate from what you are currently paying your local utility company. They will also offer a guaranteed annual rate increase of around 3%. This is roughly half of what the national average is for annual utility rate increases. You have now locked in a low electric rate with a clear understanding of what your rates will be for the next 20 years. It’s that simple.

Why would anyone invest millions of dollars you ask? Just to get my $.09 or $.10 per kWh? Well, they’re getting a bit more than that. The PPA, in addition to the revenue collected from your energy usage, will also receive the SREC’s that the system generates as well as its depreciation and any applicable rebates, grants and/or tax incentives. So they earn money, you save money and we all do our little part to becoming an energy independent nation.

 

Capital Purchase

An outright purchase of a solar system is the most profitable way to Go Green. The Federal Government is currently offering any business that installs a new solar array on their property a 30% tax credit. Additionally, under the Modified Accelerated Cost-Recovery System (MACRS), any solar array placed in service this year qualifies for 50% first year bonus depreciation. Add these to your energy savings and your income from SREC’s and you can see why there has never been a better time to go Solar. Double digit annual returns are the norm for solar system investments in NJ.

 

Solar Leasing

Though more popular in the residential area, commercial solar leasing is still a viable financing tool. Here’s how it works:

For little or no money down, the leasing company will furnish, install and maintain your system for a fixed period of time (usually 10-15 years). They will charge you a reduced rate to your current electric provider and offer a fixed rate annual increase (usually between 2.5 – 3.5%). During this time, the leasing company will own the system and enjoy the rebates, grants, tax credits, SREC’s, etc.. After the leasing period is over, the leasing company will offer you a buy-out option for your system, often times below fair market value.