We help our customers find financing that meet their energy and financial goals. From small-scale solar, lighting, solar thermal, and wind lease projects to utility-scale Power Purchase Agreements, we find financing solutions that are tailored to each customer and each project.
We track down available federal, state, and local incentives, rebates, and sustainable renewable energy credits for our customers so they get the best return on their investment. At OGW, financing is part of the entire package of how we help you meet your goals.
Similar to a bank loan, the capital lease provides the benefits of equity and SREC, without requiring you to pay the full project cost up front. The project cost is paid out over a set period of time. This is generally the best option for “for profit” companies.
Similar to a rental agreement, the operating lease keeps the total cost of the project off the balance sheet, keeping your interest rates low. The terms of this type of lease include a fair market value purchase at the end of the term, which is typically 7-10 years.
Power Purchase Agreements (PPA)
In addition to leasing and more traditional forms of financing, our customers can purchase their power at a discounted rate through a Power Purchase Agreement (PPA). Under this type of agreement, OGW owns or partners with the owner of a solar array. Our clients pay for output just like they would pay for a utility bill, but normally at a lower utility cost from the first month. In other cases, and from a levelized cost standpoint, our customers can expect to pay from 5 percent to greater than 20 percent below retail electric rates over the system’s lifetime. They can also demonstrate environmental conservation without the outlay of capital and long-term maintenance requirements. The PPA is an ideal program for all business entities that can take advantage of depreciation or other tax based incentives.
Tax-exempt Lease Purchase (Municipal Lease)
The tax-exempt lease-purchase is intended to meet the special needs of state and local governments, non-profit organizations, and schools. It is offered at a much lower interest rate and longer terms compared to other lease options, and it allows for payments to be made through the operating budget.
The State of Ohio has a new financing program called ECO Link that could be really helpful when you install solar panels or other upgrades to your home that improve energy efficiency. The program is designed to work with banks to provide up to a 3% reduction in your interest rate. To learn more, give us a call.
ReEnergize Ohio is a partnership between the State of Ohio and banks that provides interest rate reductions of up to 3% on loans to small businesses that are upgrading their facilities to be more energy efficient. Give us a call to learn more.
Your energy. Your future.