The benefits of commercial solar are well known among California businesses. With more and more business owners investing in solar, the technology is well tested and proven. Harnessing the sun’s free energy to power your building seems like a no brainer so why do some businesses find it difficult to make the jump?
Investing in solar requires capital that many businesses are not ready to use. Sure saving up to 100% of your electricity cost keeps much-needed cash in the company, the upfront cost can be intimidating. The combination of state and federal incentives, like Solar ITC, and almost zero out of pocket financing can be a great option for many California businesses to regain lost cash without high up-front costs.
Four common options in today’s market for solar project financing are helping California businesses invest in this valuable technology. Traditional Bank Financing, Power Purchase Agreements, Leasing, and PACE are some of the most applicable financing options.
To put the concept simply. If a business spends $10,000 a month on electricity before the solar system is installed and their investment once operating reduces their bill by $8,000 a month, this is a huge win, a ratio of savings our team sees quite often with our highly customized system for each unique business.
Then after the monthly financing payment anywhere from 20% to 60% of the electricity savings, businesses are left with sizable net savings each month, putting valuable cash back into their company. Depending on the financing option, the business may also earn lucrative incentives like the dollar for dollar 26% solar investment tax credit, as well as depreciable assets for their business.
Which option is best for your business? Each business is unique and a free energy consultation by one of Revel Energy’s developers will present your business with several options for increasing your cash flow in a time where it is needed more than ever.
Contact a Revel Energy commercial solar developer today to get the free and easy consultation process started. The only thing you have to lose by not exploring this option is more and more cash to the utility company.
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