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    What To Look For in a Commercial Solar Finance Company

    May 23, 2019 | Commercial Solar

    Investing in renewable and green energy is on the rise and shows no sign of slowing down. Many companies would love to invest in a solar project for their commercial building but may feel limited by cost. Finding a commercial solar financing company that you trust could be your first step toward completing a successful solar project.

    How Well Do They Understand the Industry?

    It is crucial to hire a company which is well versed in the solar industry. Obtaining a loan through a bank is one way to get your project started, but you will want to choose a lender who is familiar with the needs of a solar project. EnergyLink has worked with many banks in its areas, and they aren’t afraid to get creative with the financing options. If you are more interested in exploring government or PACE funding options, those are excellent as well. Whatever path you wish to take, be sure the financing company is well versed in many areas so you can choose the route that makes the most sense for you.

    Case Studies

    The best commercial solar finance companies have case studies explaining how the solar project was funded and the end result of the project for their clients. If you come across a company with case studies, that will tell a lot about the company itself. You could even contact the clients described in case studies to ask how they felt about their project.

    What is the Approval Process?

    It is in your best interest to find a commercial solar finance company who is skilled at overcoming the many financial obstacles that may be standing between you and the completion of your commercial solar project and understands all financing options available to you. EnergyLink can help you get approval through several options such as:

    • Government Energy Funds
    • Third Party Investors
    • Bank Loans
    • PACE Funding
    • Utility Loans
    • Energy Performance Contracts

    Solar Loan vs. Solar Lease

    A solar loan is an excellent option for those who can afford an up-front cost, as well as monthly payments and are wanting to gain a solar tax credit. These loans work similarly to a home loan, but be sure to choose a company who is willing to disclose all the details of the loan. You’ll want to know if the agreement works for you long-term.

    A solar lease will allow participants to pay a monthly fee to rent and use the solar energy panels with no up-front cost. Have the company from which you are leasing clearly define the terms of the lease so that there are no surprises down the road.

    Let EnergyLink Be Your Commercial Solar Finance Company

    Whether you are looking to lower the cost up front or would like to own the solar system, we have a solution for you. Our financial analyst team at EnergyLink can develop different financing options for you, creating flexibility in your solar project. With a variety of options that require no out-of-pocket expense to you, we hope that you will find what you are looking for in a commercial solar finance company. Click here to discuss financing your solar project today!

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