Harnessing the power of the sun has never been more beneficial and accessible than it is today. However, the upfront costs of installing a solar system may be a barrier for many. That’s where solar financing options come into play.
As solar energy continues to gain popularity as a clean and sustainable alternative to conventional electricity sources, residential owners and businesses alike are eager to join the renewable energy revolution.
With a variety of financing solutions available, such as power purchase agreements (PPA), leasing, solar loans, and government incentives, individuals and organizations can now embark on their solar journey with ease.
Here at NYSSF, we will explore the different solar financing options, their benefits, and how they can help make your transition to solar energy affordable and financially viable.
Financial Analysis
Once your site evaluation is complete, we provide a custom financial analysis that clearly shows your electricity bill offset, payback time, return on investment, and other economic benefits of solar.
Solar Structured Finance
Many options are available, from true-tax leases to Power Purchase Agreement (PPA’s).
A Smart Investment
Solar electricity can save you thousands of dollars — even hundreds of thousands. When viewed as a long-term investment, it’s low risk with high returns — much better than conventional high risk investments. And with government incentives covering 75% of the installation cost, your payback time is considerably short. These incentives include:
Commercial solar electric systems deliver power when it is needed most — during high-demand times of the day, offsetting the expensive peak power charges businesses pay to utilities.
In addition to its substantial economic benefits, solar power also delivers the benefits of “going green.” Whether to burnish their public image, use as a hedge against future rate hikes, or meet carbon-neutral goals, businesses are increasingly purchasing solar electric systems that enhance customer loyalty and attract socially responsible employees.
One of the most common forms of financing is the Power Purchase Agreement (PPA). Power Purchase Agreements are structured by a third-party financial institution where they own and maintain the system for 10-25 years.
They assume the federal and state incentives. Your business is basically renting the roof space, and buys power for a long-term fixed rate lower than your current utility provides. It’s a win-win for businesses with no capital outlay, and the PPA investors can take advantage of the 30% Federal Tax Credit.
New York State Solar has strong relationships with reputable industry PPA providers, and we’ll work with you to negotiate the most competitive financing rates.
We are 1 of only 4 SunPower Master Dealers & 1 of only 12 NYSERDA Gold Status Installers in NY State.
To know more about solar financing options, please don’t hesitate to get in touch with our solar experts to get free quote!
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