How Public Financing Options Work
Public entities are able to take advantage of numerous solar financing options not available to corporate entities, including special incentives, tax-exempt leases, and exclusive government subsidizes bonds. Done correctly, modest funding combined with low-interest debt is sufficient to finance public solar projects.
Benefits Of Solar Leases
- Access to a range of incentives not available to the average consumer. When combined with standard rebates, exclusive bonds and grants such as American Recovery and Reinvestment Act (ARRA) subsidies, Energy Efficiency and Conservation Block Grants (EECBGs), and Clean Renewable Energy Bonds (CREBs) allow public entities to dramatically reduce the cost of new solar installations. Figure 5 shows a hypothetical public financing arrangement that uses a few different incentives.
- Ability to take advantage of Tax Exempt Municipal Leases (TEMLs), which allow public entities to finance projects by entering into lease agreements with traditional lenders. Offering full ownership and access to lower costs of debt, TEMLs can make your solar installation extremely affordable.
- Immediate savings on electricity costs since the reduction in grid electricity bills more than offsets your monthly lease payments for the installation. Figure 5 illustrates the potential savings available under a standard SunPower solar lease agreement.
- Collective ownership of our energy future. Developing solar power within the public sphere helps to build a more sustainable tomorrow.
Key Public Financing Option Considerations
Because public financing options typically require additional preparation, be sure to familiarize yourself with any relevant deadlines and processes to ensure that you make optimal use of all available sources of public financing. It is worth investing this time since public agencies are often able to realize the greatest returns on solar projects.
Solar Technologies Public Financing
With over two decades of experience in solar project financing, designing, and development within the public sphere, Solar Technologies has the expertise to help you and your facility source the most attractive funds for your upcoming solar installation. Although government incentives and other public monies continuously evolve over time, Solar Technologies regularly monitors these changes to ensure that public financing procurement for your project remains simple and streamlined.