Solar Panel Finance for Business
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Investing in solar for your business will lower your energy bills, reduce your carbon footprint and increase the value of your property. If your business isn’t in a position to cover the installation costs upfront, there are a number of options that you can investigate that still enable you to take advantage of the benefits.
You may qualify for a Government grant or incentive, or be able to access private funding through asset finance, solar panel leasing or a PPA (Power Purchase Agreements). We regularly work with customers who access different types of businesses finance for their renewable energy and Geo Green Power partner with third parties who can assist you.
How a Power Purchase Agreement (PPA) can finance your commercial solar panels
A Power Purchase Agreement is a contractual agreement between a solar power provider and a customer. The power provider designs and installs the solar panel system and the end customer purchases the power generated at a fraction of the cost of their grid energy tariff.
The power provider remains the owner of the installation and is responsible for the upkeep and maintenance on the system. At the end of the agreement, which ranges from 10 – 15 years, the customer can either extend the contract, purchase the system or end the agreement.
If you are in leased or rented premises your landlord can enter this agreement on your behalf.
A PPA allows businesses to reduce their carbon footprint, save on their energy bills, and be less exposed to energy market price fluctuations
Advantages of a Power Purchase Agreement
Benefit from sustainable energy without the upfront cost
Save on energy bills and lessen your exposure to energy market price fluctuations
Reduce your carbon footprint and benefit from the competitive advantage of your business demonstrating a commitment to sustainability
No upfront costs to accessing renewable energy for your business
Who is eligible?
Size of a company and energy consumption - establishments with higher energy needs will have increased access to PPA options
Your location and premises – your geographical location needs to be suitable for a renewable energy project
Grid connection agreement – your solar PV system will require DNO approval
Your energy usage patterns – fluctuating energy usage may mean that your business is not a good fit for a PPA
Exploring leasing finance options for solar panels
Leasing is a financial arrangement when an individual pays to use something temporarily (this is also known as fixed term).
Solar panel leasing involves a third party installing the panels on your property, and your business covering the cost through a fixed monthly rate. You are able to use all of the energy produced by these panels for your fixed monthly leasing rate.
Your payments may increase over the term, the rate at which they increase will be noted in your agreement, but will remain less than your original grid tariff electricity costs.
Advantages of solar panel leasing
No upfront cost - solar panel leasing is a great option for businesses who cannot afford the initial high cost of panels
No maintenance or repair responsibility - the majority of solar panel leasing contracts include free maintenance
Energy bill savings – your leased solar panels will reduce your business's electricity bill
What is asset finance?
Asset financing is a method used by businesses and homes to borrow money for a specific purpose, in this case the installation of solar panels.
It’s a great way for a company to acquire assets without having to make large upfront payments. The solar PV system purchased would be under your business’s ownership, you would benefit from all of the energy produced and continue to benefit after the end of your asset finance agreement. As the owner of the system you would be responsible for service and maintenance.
Advantages of asset finance?
Small or no upfront costs when purchasing high-value items
Allows you to spread the cost of your solar PV system over several payments
Fixed payments make budgeting easier
Who is eligible for asset finance?
Asset finance is a good option if your company meets the eligiblity requirements:
You may have to demonstrate that you have a minimum turnover threshold in the region of £100,000 per annum
Your business must be capable of meeting all ongoing financial commitments. Your credit history and stability will need to be assessed
Get in touch today
For further information and advice regarding commercial solar panels and large scale solar power business projects, we would be delighted to be of assistance.
We can put you in touch with third party organisations to provide you with the business financing options that you require.
Contact Geo Green Power for free on 0800 988 3188 or fill in the online enquiry form to request a quote.
We plant a tree for every quote we produce
Did you know you can support reforestation efforts with Geo Green Power? We’ll plant one tree for every quote we produce! Simply request a free quote and we’ll take care of the rest.
Who We Work With
Why Geo Green Power?
With over 14 years of industry experience we understand what our commercial clients are looking for and have unrivalled knowledge and expertise in the renewable energy sector. We build long-standing customer partnerships, our team is on hand throughout your install and throughout the life of your system ensuring that you get the most out of your investment with us.
Large-scale projects demand specific expertise and planning. We would advise you to get in touch with us and involve us in your project as soon as possible.
