Local businesses have a number of different avenues they can take in order to get on top of their solar panel financing responsibilities.
By taking advantage of an eco-friendly and sustainable energy resource, brands can leverage the very best of modern technology without having to go into the red for the privilege of the system.
Yet these panels are far from a one-size-fits-all scenario to finance the project.
Whether the business is liquid or facing financial hardships, there are solutions at hand that will help the organisation.
That will be the topic of discussion as we assess the options that are presented to the commercial sector.
Seek Guidance & Expertise First
Local businesses should not expect to know every intricacy and detail involved with solar panel financing. This is where professional guidance is at hand, giving participants an opportunity to leverage a scheme that works for them. By opening a dialogue with a local solar provider, it is easy to identify what type of payment schemes are available and what works with other commensurate organisations according to their energy consumption habits and size.
Businesses that are liquid and have the capital to implement the technology can arrange solar panel financing simply through cash. Without having to go through the necessary channels for payment plans, this is a very quick and efficient means of integrating the panels on-site and covering all essential bases immediately. It is not available to everyone, but those who have budgeted for such a process should be able to oversee the initiative on the spot.
Taking Advantage of Grants & Schemes
Government rebates and green loan schemes are at hand for those public and private enterprises who want to manage their solar panel financing affairs diligently. While this will not cover all costs, it is a strategy that lowers installation premiums and increases access while allowing clients to enjoy dividends with energy sent back to the public grid. These programs are updated and altered semi-regularly, so companies should take notice of new guidelines on this count.
The Power Purchase Agreement or PPA for short is seen as one of the most effective solutions for companies wanting to leverage solar panel financing measures. This is a means of bypassing any upfront costs for installing the technology, helping to increase access on day one. Commercial clients will then be charged by the solar company according to the energy that is generated. There is less wiggle room with these agreements as the customer will have to opt in for a minimum purchase amount to receive the PPA.
Financing this technology can be difficult, but to get the ball rolling there are lenders who can provide a business loan for the implementation of the panels. Companies as a rule do not like going into debt, yet the inclusion of a sustainable long-term asset is a surefire way to minimise monetary risk and cover all of those outstanding debts when they are due. To be a diligent practitioner, it is important to cover all bases with solar panel financing by dealing with a legitimate lender first.
Leasing/Renting the Product
The last port of call that is available to businesses with solar panel financing solutions is not to buy the hardware, but to lease or rent it. There are unique arrangements where clients will take up premises in a commercial building and decide that they are better positioned to use the technology for the short-term on an ongoing basis rather than being locked into a long-term contract. Ownership of the product provides more benefits and guarantees, but this is a savvy choice if the upfront capital is simply not obtainable.