Due to their quantitative financial benefits, Solar Electricity, aka Solar PV, and Battery Storage Installations allow for various forms of financing. We suggest first looking at your own sources of capital, where you may be able to secure the lowest interest rate possible. But we can arrange attractive off-balance sheet, non-recourse financing as well through our trusted partners.
The most common form of financing we offer to Commercial Real Estate owners is a Commercial Property Assessed Clean Energy, or C-PACE, loan. The following gives you a high level overall of the benefits and characteristics of a C-PACE so you can decide if it’s worth exploring further.
- Ideal for a nonprofit or for-profit customer looking for long-term stability in energy costs.
- Renewable Energy Tax benefits stay with you as long as you own the property.
- Eligibility is based on property value & geographic location.
- Loan will provide up to 15% of property value.
- 10% equity in building required.
- Zero initial investment.
- Off-balance sheet, non-recourse financing.
- Loan repayment is accomplished via a special property tax assessment semiannually that automatically transfers to the new owner if you sell the property.
- Savings and payments can be passed to the tenant in a triple-net-lease.
- 10, 15, 20, 25, 30 Year Terms. The extended length of term typically allows for positive cash flow from day one.
- As of this writing, May 2020, we see a 6-7% Interest Rate. Interest generally considered tax-deductible.
- Prepayments carry no penalties and principal will be deducted accordingly.
- Covers reroof but needs to be with a pre approved contractor.
- Safe source of capital. Investors include private investors and insurance companies.
- Low amount of documentation is required for underwriting. A copy of the most recent mortgage statement is needed.
If these benefits and characteristics appeal to you, please email us at firstname.lastname@example.org or call us 213-599-3937. We’ll schedule a free consultation.