Financing for Commercial Solar – Westchester – Rockland – The Bronx
Switching to solar offers businesses many benefits, from generous tax breaks to reliable monthly savings. Today there are multiple ways to finance your solar system.
Owning your system outright provides many advantages, from government incentives to consistent, stable income each month. For small businesses and nonprofits, the NY-Sun loan program offers standard and on-bill recovery loans with interest rates as low as 2.5 percent APR.
Solar operating leases
With a solar lease, businesses can benefit from lower monthly utility payments, without paying to own the system. Many leases offer a fair market value buyout at the end of the term.
Power purchase agreements (PPAs)
A PPA is similar to a solar lease; however, instead of paying a monthly fee for use of your system, you pay a fixed price per kWh of power generated. The SunBlue PPA allows businesses, nonprofits, and municipalities to lock in favorable electrical rates for years to come, usually for 20-year terms.
Businesses interested in commercial solar (Westchester, NY only) may be able to take advantage of PACE financing. Participating municipalities in Westchester provide a streamlined process tying the loan to the commercial property, rather than to the business owner, with repayment through your property taxes. For a full list of participating municipalities, visit Energize NY.
Contact us today to discuss options for financing solar panels for businesses in Westchester NY, Rockland, and the Bronx.