How to Finance Your Commercial Solar Project
If you’re like most business owners, sustainability and cost-saving measures are always at the forefront of your mind. Commercial solar can help address both of these issues simultaneously, but the upfront costs can seem prohibitive. Thankfully, taking advantage of tax incentives and financing is a lot easier than it sounds.
There are multiple ways of financing commercial solar systems and projects. The best option for your business will depend on your tax appetite, qualified incentives, and how you view debt on your balance sheet. Our solar experts will work with you to identify possible solutions that meet your goals.
When it comes to financing commercial solar projects, here are few of the questions we will ask:
- Do you currently have tax liability to take advantage of the tax incentives?
- What is your ROI target?
- Do you have an existing relationship with a commercial lender?
- Who owns the building? Is there a mortgage on it?
- Are you ok to show debt on your balance sheet?
Once we better understand your business, we can show you multiple finance options. After you identify which is the best solution, we can help identify the best financing partner based on rates and contract terms. Each of our finance partners offer different types of finance based on location, system size, and business industry. In some cases, Genie Solar will offer to finance the project ourselves. Solar and solar financing are not one-size-fits-all – allow us to build a custom proposal for you.