Different contractors may offer varying financing options for your business when you ask about solar installation. It is possible to either purchase or lease.
The venture may be costly, but these financing options will make everything easier to afford.
If you are interested in getting your own solar panels to use for your business, look at the following options that can help lower the total cost of the project:
QECBs or Qualified Energy Conservation Bonds
You can obtain the binds from tribal, state, or local governments. You can use them in financing renewable energy and energy efficiency projects.
Businesses can use the tax credit for building retrofits, community outreach programs, and mass transit programs.
C-PACE or Commercial Property Assessed Clean Energy
You can get this type of financing to make improvements to your building. It’s low-cost and doesn’t require outright cash. You also won’t be recording any debt on your balance sheet. Not to mention, it’s a long-term option that is easier on the budget.
USDA REAP Loan Guarantee
REAP or Rural Energy for America Program gives grants to small businesses and agricultural producers. They also hand out assistance in line with the development of renewable energy.