Free solar consultation We will make a site visit to your business or manufacturing facility or hospital and evaluate the space needs for the solar system and give you an analysis of your energy usage. We will also do all the paperwork for obtaining state rebates, grants and solar renewable energy credits for each of our installations. Guidance for federal tax credits, depreciation will be provided to your accountant
Proposal Based on the assessment of the space and energy usage we will design a solar system that’s best for your facility. The proposal will have such details as the cost of the system, how the system will be paid for, and the return on investment.
SMI Smart Capital program for 100% finance of commercial solar installations: SMI can offer you 100% financing; this program is tailored for businesses that are not in need of tax credits, or accelerated depreciation benefits. We partner with investors who need these benefits, and once the period of these benefits ends for the investor (usually 6 or 7 years), you can own the setup by paying on ly 10-15% of original lease amount (even this amount can be financed, in which case you end up fully owning the system either at year 9 or year 10). Depending on the state incentives, this could mean enormous positive cash flow benefits during the initial few years, which you can use for your business. This program is a sure winner!
Non-profit solar: A number of non-profits such as schools, colleges, hospitals, government buildings, or churches are heavy consumers of electricity, but the conventional financing mechanisms do not work in these cases, since the non-profits cannot use tax credits, and in most cases, cannot use accelerated depreciation benefits. But, we can secure for them a grant up to 60% of the cost; they may still be able to monetize the solar renewable energy credits, and earn an additional income.
Full ownership In this case, you as the homeowner own the entire solar system. You finance the system one hundred percent, either with your own personal cash, or bank loan. SMI can assist you in securing this loan due to its various contacts in the lending community.
Lease to own In this case, you simply lease the solar system from us, and you do not own the system until the end of the lese period, when you pay a certain nominal amount and take possession of the system. Your lease payment will be less than our current monthly electric bill.
Power Purchase Agreement (PPA) In this case, you never take title to the system and thus “zero ownership!” You enter into a power purchase agreement with SMI, agreeing to a long-term contract to purchase power from SMI. This rate will be less than your current electric monthly bill rate.
Each of these choices have their own advantages, and disadvantages. For instance, maximum economic benefits are derived from full ownership, but this choice also requires you to come up with all the cash needed. The lease-purchase option requires a far less cash outlay from your end, but the benefits are also a bit less, since you do not get the benefits of tax credit etc. The PPA option requires the least amount of cash from your side, but you also forego benefits such as tax credit, SRECs’ cash benefits etc.