Commercial Solar Financing
The energy landscape across Australia and the world is drastically changing as renewable energy sources become a more affordable and beneficial option commercially and residentially. With traditional energy prices rising, more businesses than ever are investing in solar power and reaping the rewards.
Making the change to solar energy pays dividends for years to come, and thanks to the numerous commercial solar financing options available, the impact of upfront costs can be significantly reduced.
Solar finance options are widely available for businesses looking to make the switch to renewable energy. Which financing option works best for your business will depend on your needs.
Options for businesses include purchasing a solar power system outright, leasing a system, agreeing to a power purchase agreement (PPA), or on-bill financing through EnergyAustralia. For businesses based in Victoria and New South Wales, an Environmental Upgrade Agreement may also be available.
Businesses with the capital available to purchase a solar power system outright can begin enjoying a return on their investment as soon as the system is installed. Purchasing your solar system upfront gives you a valuable asset that you have complete control over.
If you don’t want to worry about making regular repayments on your solar panels, purchasing is the best commercial solar panel financing option. As an added benefit, if you sell your building, you’ll be able to sell the system with it.
Not all businesses have the capital to invest in purchasing their own solar panels, which is why commercial solar loans and leasing is also popular. By entering into a solar leasing agreement with a third-party financier, you will be able to pay off your system over a number of years.
Leasing solar panels allows you to enjoy reduced energy costs to your business, while also giving you the benefit of owning the system once all repayments are made. At Cherry Energy Solutions, we have partnered with Smart Ease as our preferred energy efficiency payment solutions provider. Smart Ease specialises in smart and energy efficiency solutions with competitive rates, fast approval and excellent service.
Power Purchase Agreements
Solar power purchase agreements (PPAs) offer huge benefits to businesses that want to cut energy costs without purchasing a system of their own. This commercial solar financing solution means that your PPA provider owns and maintains the solar panel system, which in turn results in much less financial risk to your business.
You won’t even have to pay for the installation of the system. The only cost to your business will be for the solar power generated and any additional power taken from the grid – significantly lower than the cost of using the grid alone.
EnergyAustralia gives you the option to pay for your solar PV system through your energy bills. Offering businesses no upfront cash investment and no lock-in finance contract, owners can choose to repay the system on a consolidated bill over a period of up to 10 years.
Plan for the Future of Your Business Today
When you invest in solar energy, you invest in the future of your business. With more businesses making the change to green energy and plenty of solar financing options available, there has never been a better time to switch to solar.
Cherry Energy Solutions’ solar calculator can help you get a better understanding of how many panels are needed to power your business. If you’re ready to get started with solar, give the experts at Cherry Energy Solutions a call on 1300 570 886, or enquire here and we’ll get back to you shortly.