There are as many ways to pay for a commercial solar system as there are ways to design one. Finding ways to finance one might seem overwhelming, but there are some good options to choose from. By creatively combining state and federal tax incentives, grants, and innovative financing models, commercial customers can realize an immediate and positive impact to their bottom line.
Although we are able to design almost any financing model that works best for your business and clean energy goals, most commercial solar purchases fall into one, or a combination of the four categories outlined below:
1. Cash/Loan - Buy your solar system outright.
2. Lease - Pay a monthly fee for the use of solar equipment.
3. Solar Service Agreement/Power Purchase Agreement (SSA/PPA) - Pay for the solar electricity you use, not the solar equipment.
4. Public Financing - Use bonds, grants and other options available only to specific rural businesses and some non-profits.
Fortunately, our friends at Sunpower put together a fantastic infographic that explores the pros and cons of these four most popular financing models. Chose one option or combine several. There are many creative ways to align business finances with clean energy goals while saving a ton of money!