Financing Industrial Solar Power
Many small companies don’t think they’ll be able to afford solar power for their company, but many solar companies in Florida are arguing that this isn’t the case. There are a ton of opportunities for small commercial and non-profit customers to finance their projects through financiers that have proven track records. Some of the largest backers in the solar industry even have experience in financing non-energy related projects.
Not only are there a variety of financing options for small businesses, but there are even companies broken down by specific industries that are looking to help specific small commercial customers.
- Farm Credit: If your small business is in the agricultural industry than this financer may be a great option for you. They have been helping businesses for over ten years gain access to solar power. One specific company within Farm Credit, Ygrene Energy Finance, has allocated over one billion dollars of financing to back projects that center around energy efficiency and water conservation.
- Technology Credit Corporation: Since 1988 this financer has provided over two billion dollars of technology and energy equipment to small businesses. Within this category Key Bank and Wells Fargo have provided financing for the leases of thousands of solar projects across the United States.
Although there are financing options available to help small commercial companies obtain solar panels, there may be some obstacles that could stand in your way when trying to get your installation complete.
- Financers Need To Deal With Property Owners: Most of the time companies rent or lease their space from property owners. This poses a complication when you’re trying to get a solar power project financed. Financers need to speak with the real property owners in order to approve any long-term equipment financing application.
- Financing Not Coming Through: Over the years as solar panels became more popular there have been instances where financing, although it was approved and promised, has not been delivered. There have been countless times where contractors felt robbed by financing groups who haven’t paid after a project was complete. It is important to properly vet your financing company to ensure they have a proven track record of reliability before signing any contracts.
SEM Power has over 30 years of experience in the industrial solar power industry in Florida. Our team of engineers takes the time to speak with our clients to make sure we understand what they are looking for from their project. This is how we’ve become one of the leading solar companies in Florida. Call or visit us today to find out how we can help your business.