There are many ways to finance a renewable energy project and numerous factors to consider. The Glow team is here to help you make the best choice for your project.
- Cash Purchase: The most straightforward option for paying for your solar system, a cash purchase often leads to the strongest ROI and quickest payback.
- Solar Loan: A loan is a common way to finance some (or all) of the costs of a solar system on a cash flow neutral or even positive basis. They are available from a variety of lenders, both locally and nationally. Loan products are available for all sizes of solar energy projects, and often the payments can be covered entirely by your utility bill savings. A great place to start is your current lending institution and Glow is happy to help you identify other loan options.
- PACE Financing: The Property Assessed Clean Energy loan program is available to property owners looking to finance up to 100% of the system costs for energy efficiency projects, including solar. PACE is a great option to go solar off-balance-sheet; the debt is serviced as an assessment on the property tax, so the debt is tied to the property – not the business. This program is dependent on local participation, so eligibility is contingent on your specific project location.
- Solar PPA: A solar power purchase agreement is a third-party financing mechanism that allows you to go solar with zero up-front investment. Glow will install, maintain, and operate a solar system on your property with the power generated being used and purchased by you, the property owner, at a low and predictable rate for a term of usually between 10-25 years.