Choosing The Best Solar Financing Option For Your Facility

Solar energy is this decade's buzzword for businesses who are looking toward implementing forward-thinking policies that will save them money while reducing their carbon footprint with renewable, clean, safe energy from the sun. 

If you, as a facility manager, are thinking about installing solar energy on a property you manage, you may be wondering how you are going to pay for it. For more information about business solar financing, you can explore this link

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Solar Purchase Agreement (PPA)

PPA is what we consider a “third-party ownership model” in the solar sector. PPA has become one of the most sought-after methods for financing commercial solar projects. 

In addition to this option, which gives businesses the ability to install solar power without significant upfront costs, another major advantage is that a third-party owner manages all ongoing operations and maintenance of the array.

Solar power loan

Solar loans are similar to other loans companies take to renovate, upgrade infrastructure and improve properties. After completing a solar loan, the company you work for remains the direct owner of the solar system. 

However, the financial institution holds liens on the solar system itself – just as it does on any other real estate loan or new car. The interest rate, term, and terms of the loan depend on many factors such as the location of your site, the type of lender, and how much you are willing to pay in monthly installments.