Funding Solutions That Fit.
Let’s discuss figures! There exists a range of financial alternatives to help you discover the most suitable one and make the most of all the available incentives. You can opt for a lease or loan with no upfront payment and receive complimentary installation, or you can purchase the system outright to maximize your savings. Regardless of your preference, you may qualify for an Investment Tax Credit either directly or indirectly. Your Renova Energy Consultant will provide you with a personalized proposal that is free of cost, which includes all the financing options and estimated savings for each one.
Funding Solutions That Fit.
Let’s discuss figures! There exists a range of financial alternatives to help you discover the most suitable one and make the most of all the available incentives. You can opt for a lease or loan with no upfront payment and receive complimentary installation, or you can purchase the system outright to maximize your savings. Regardless of your preference, you may qualify for an Investment Tax Credit either directly or indirectly. Your Renova Energy Consultant will provide you with a personalized proposal that is free of cost, which includes all the financing options and estimated savings for each one.
Purchasing a solar system provides you with maximum savings. And because you’ll also receive a comprehensive warranty for 25 years and enjoy an expected life of up to 40 years from your system, you could be enjoying the best long-term savings. You will also be protected from future utility rate increases.
- Larger long-term savings
- 30% federal Investment Tax Credit
- 25-year comprehensive warranty
- Increased property value
- Protection from future rate increases with the right-sized system
You can borrow money from a bank. Loans can be secured by your real estate or unsecured. The Renova Energy Commercial Finance Team can help you secure a loan to finance your solar project.
- Your business will own your solar system
- You immediately save on electricity
- No up-front costs
- Your business receives the federal Investment Tax Credit (ITC) and accelerated depreciation
A third-party investor purchases the solar power system from Renova Energy. The investor owns, operates, and maintains the system for the life of the term. Your business buys the electricity generated by the solar system at a discount on your utility rate. You pay nothing out-of-pocket, never have to worry about the system and start saving immediately.
- No up-front costs
- You only pay for the electricity your solar system produces
- Terms from 15 – 25 years
- Your business receives the electricity savings
- The PPA company owns and maintains the system
- The PPA company receives federal and state tax benefits, like the ITC
With an Operating lease for a commercial solar system, a financing company purchases the solar system from Renova Energy and then leases it to the commercial customer. The lessor receives the tax benefits including depreciation and the federal Investment Tax Credit (ITC).
- No upfront costs
- Simple monthly payments, usually fixed
- Terms from 6 – 10 years
- Buy-out at the end of the lease term is usually the fair market value
- Your business receives the electricity savings
- Your business may receive the state incentives
- Leasing company receives the federal and state tax benefits
- Preserves existing lines of credit
- A great way to finance solar when your business can’t use the depreciation or the ITC
Capital Leases are similar to loans. You can capitalize on all tax and depreciation benefits that come with solar. Monthly payments are typically higher than an operating lease option because the buyout at the end of the term is usually just $1.
- No up-front costs
- Fixed monthly payment
- Terms from 5 – 15 years
- Your business receives the tax benefits like the federal Investment Tax Credit (ITC)
- Your business receives the electricity savings
- Equipment is capitalized as an asset on your balance sheet
- Depreciate the system to reduce taxable income
- Buy-out at the end of the lease term usually $1
