By Cameron Ramey, Solar Industry Magazine
According to industry groups – and Wunder Capital’s experience lending in the space – comparatively anemic solar growth in the commercial market is largely due to limited access to affordable capital, an issue especially true for smaller commercial projects (less that 200 kW in size). Much of the lending for these types of projects is done by local banks and credit unions that make traditional loans based on the business principal’s credit and general business assets. Most of this lending is both inefficient and time consuming. Fortunately, we’re starting to see more solar-specific financing options. For larger commercial projects, there are several solar finance organizations that can be a good fit. In addition, states have started to get on board with loan programs like Nebraska’s Dollar and Energy Savings Loan Program and Colorado’s C-PACE Program. Click to read more.
Cameron Ramey is director of operations at Wunder Capital, a financial technology company that provides financing to commercial solar projects.
Nebraska Dollar and Energy Saving Loans are offered statewide by the Nebraska Energy Office and the state’s lending institutions. The simple interest rates are 2.5%, 3.5% and 5%. Final annual percentage rate (APR) may vary by lender and loan fees charged. For more information, visit: http://www.neo.ne.gov/loan/