Borrego Solar is flexible when it comes to financing solar installations and energy storage equipment, and will work with you to identify the best-value solution for your organization.
We offer a variety of solar finance options allowing you to finance your project either on—or off—balance sheet.
“Borrego was a great partner for Madera Community Hospital. They worked closely with local electrical contractors to build a 1.14 megawatt installation on six acres of unused land adjacent to the hospital. Their integrated financing was easy to navigate and the funds needed to build the project were available once we were ready to proceed.”Mark Foote, CFO, Madera Community Hospital
Power Purchase Agreements (PPA)
Our finance team has successfully financed over $500M of commercial-scale solar PPAs, giving our customers the ability to purchase power without the upfront capital.
With a PPA, solar customers lock-in a $/kWh for energy, avoid the volatility of utility rates, and can accurately budget their next 20 years of energy costs.
Another benefit to a PPA is that it shifts the risk of a PV asset performing to the investor who owns the project. As the entity purchasing the power (the “off-taker”) you don’t have to worry about operations and maintenance costs.
At the end of the PPA term you can buy the solar installation at fair market value, extend the PPA agreement, or have the system disassembled.
Property Assessed Clean Energy (PACE)
PACE financing is a unique low cost financing option only available for investments in clean energy and energy efficiency. PACE financing can be utilized by any property owner who pays property taxes.
PACE works for both owner-occupied and non-owner occupied buildings and allows for 20-30 year financing of solar and energy storage equipment at very low effective interest rates.
In some cases PACE can also be used to finance re-roofs in conjunction with a solar project.
PACE solar projects usually allow building owners to generate positive cash flow in year 1, and generate excellent returns over 20-years.
Solar leases (capital, operating, and Tax Exempt Municipal leases) are available to both private and public entities.
Similar to a PPA, they allow customers to go solar without the upfront capital investment, but unlike a PPA, maintenance and operation of the solar project is the responsibility of the lessee.
Regular lease payments are offset by the value of the energy savings from the solar and/or energy storage equipment and usually come in 10-20 year terms.
As a financing agnostic provider we can work with organizations that wish to finance the system on balance sheet using their own sources of capital. We can help maximize your financial return and reduce your risk through our long term production guarantees and O&M services.
To find out which solar financing options your project might qualify for, contact us.
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35+ Years · 1,100+ Projects Flexible Financing · Full Service