Commercial Solar Financing
Adding solar energy with Skyline Smart Energy can have serious benefits for your business. You get more control over the cost of your energy, and you get protection from unpredictable utility rate hikes. All this adds up to major savings long-term. And, you could be eligible for some huge tax benefits.
There are several commercial financing options that can potentially be supplemented by state and local programs in your area to help fund your commercial solar panel investment. Many local banks have an interest in helping businesses go green by offering attractive financing, and with the right approach, your business can benefit from those programs.
Our in-house experts will help you get the best financing or payment solution for your commercial solar project. We will evaluate your energy and financing needs and help you find the best option.
Take Advantage of PACE
Local governments can use Property Assessed Clean Energy (PACE) programs to help business owners finance solar power on commercial properties. Commercial properties include industrial, agricultural and multifamily residential properties. Learn more about PACE programs.
PACE programs help commercial businesses avoid the up-front costs of installing solar panels and other clean energy technologies and retrofits.
Key benefits of PACE Programs:
- 100% financing with $0 down
- Financing up to 25 years
- Paid through a special assessment on property taxes
- No liability shows on the balance sheet
- Stays with the land, transferring to the new owner upon sale of property
- Fixed interest rate (negotiated on each deal)
- Immediate cash flow
To qualify, applicants must:
- Have utility spend greater than $5,000 per month
- Be located in a participating jurisdiction
- Be a commercial, industrial, or non-profit entity
Commercial Solar Cash Purchase
There is always the option to buy your commercial solar system outright. You buy and operate the solar panel system, and you also benefit directly from any federal, state and local solar power installation incentives.
Federal Incentives For Commercial Solar Power
Just like residential properties, commercial properties are eligible for the Federal Investment Tax Credit (ITC). The ITC was recently expanded by the Inflation Reduction Act. Eligible businesses can receive an up to 30% federal tax credit5 when they decide to install commercial solar power.
The tax credit is a dollar-for-dollar reduction in the income taxes your business would otherwise pay to the federal government. There’s never been a better time to go solar!
State And Local Incentives For Commercial Solar Power
In addition to federal ITC incentives, many states, counties, cities and utilities offer rebates and other incentives. In addition, many states have local commercial financing options that businesses can use. For example, Michigan offers Michigan Saves, a program that provides up to $250,000 for 60 months at rates starting at 6.99% APR. Your Skyline Smart Energy commercial solar power advisor can give you the most up-to-date information on solar incentives and financing.
Federal, State and Local Commercial Financing Options
There is a range of innovative commercial financing options available through federal, state and local incentives. This has made adding solar power more affordable than ever for businesses and public entities.
Benefits Of Commercial Solar Cash Purchase
- Simplified process is faster and reduces the total time needed for solar installation
- Increased potential savings because you avoid interest rates
- Protection against hikes in utility rates
If saving money in the long run is important to you, a cash purchase is the way to go. However, if you don’t want to use capital on installing a solar project, we have a variety of programs that will help your business go solar.
Why Commercial Solar And Why Now?
You may have been considering adding commercial solar for your business, but haven’t decided yet to make the switch. Installing solar panels at your business is one of the best investments you can make — for yourself and for the planet. Solar panel technology is at its peak efficiency, and the panels themselves have never looked better. Sleek and low profile, they let your customers know that your commitment to going green is more than just window dressing.
But commercial panels give your business more than just good vibes, they give you a competitive advantage. They give you more control over your utility costs and protect your bottom line from unexpected rate increases. In addition, the more energy your panels create, the more you save. And in many states, you can get a credit or sell your energy back to the utility company. With the ITC tax credit and other incentives, you can quickly get back your investment.
Put Sunshine In The Bank
At Skyline Smart Energy, we’ll help you determine if solar power is the way to go for your business and create a customized quote based on the energy needs of your business. We’ll also work to maximize your potential cost savings and help you determine the best commercial financing option and incentives to make the solar panel system installation easy and affordable.
The best part? Once we’ve installed commercial solar panels for your company, you’ll continue to see savings for the life of the system. We have a range of financing choices, including 100 percent financing for up to 25 years. There’s sure to be one in line with the needs and goals of your business. That way, the sun shining on your roof is like money in the bank.
It only takes a quick conversation with one of our Commercial Solar Consultants to determine if solar is a viable option for your business.