IES Texas Solar Shares A Ray Of Hope For Commercial Solar Panel Financing
Rowlett, TX based IES Texas Solar is inviting their community to browse their blog for great tips and insights on solar power in the state of Texas. Many businesses may be particularly interested in one of the company’s most recent posts as it explores the various financing options that exist for commercial solar panel projects. IES Texas Solar is keen to help their business community and other customers learn how affordable solar power can be via the right channels.
The post contains both an audio feed and a transcript of an interview hosted by Artifact, which saw IES Texas Solar’s Energy Solutions Manager Justin Charles come on to talk about commercial financing for solar panel installations. According to Charles, part of the company’s mandate is to help commercial clients achieve their solar goals in terms of both creativity and engineering solutions while taking advantage of financing opportunities that allow them to make these advancements in a productive manner.
While the cost of solar panels has seen a sharp decline in the past decade as the technology improves and becomes more widely available, Charles and his team are fully aware that the cost is still somewhat prohibitive for a large number of businesses. However, they are pleased to share that much of this cost can be mitigated if the business in question partners with a solar panel contractor that knows how to provide guidance around such hurdles.
As Charles explains in the interview, “We try to look at energy solutions as a holistic opportunity. It’s a lot less expensive to reduce energy consumption than it is to offset energy consumption with production of solar energy. So our goal is always to help reduce before we produce and find ways to make that an economical and affordable solution for our customers.”
He continues that a part of the problem with financing a solar panel installation has to do with how such incentives are structured in the US. Currently, a business looking to reduce some of their installation cost via government incentives will find that this depends largely on their tax situation. If the circumstances are in their favor, Charles estimates that a business can get between 45-50% of their installation covered by government incentives. If not, this number is much less attractive, especially given that businesses would still need a lot of capital on hand even with the incentives.
As an alternative, he makes the case that a business may instead prefer to discuss a solution with their bank. This may allow them to negotiate better terms that remain within their budget without hamstringing their solar objectives. Similarly, since the business likely has an existing relationship with the lender in question, they will have a better understanding of their obligations and how that relationship can serve their needs. Many lenders will also offer reasonable interest rates.
However, this too comes with drawbacks. Charles points out that a business will still need collateral to qualify for such financial assistance — and they have to be willing to leverage it for this purpose. Additionally, they may not be able to pursue this option as effectively if the collateral has already been used for other purposes.
Charles concludes, “Solar is a phenomenal and stable financial investment for almost any and all types of businesses, and the way to figure out if it’s right for your business is to talk to a consultant. Start with getting them at least one but preferably 12 months of your bills and look and see what kind of opportunity there is for you in savings. And then we can look and see if there is a perfect financial vehicle for you.”
IES Texas Solar invites the business community to reach out to their representatives today to learn what commercial solar panel financing options are at their disposal. The company has a great deal of experience guiding both residential and commercial clients through every aspect of the process, and this makes them invaluable for those who are unfamiliar with the field.
Additional information regarding the company’s services can be found on their website and blog. Customers are also welcome to follow the company via their preferred social media platforms to stay up to date with their latest announcements and offers. They are actively growing their business and accepting new clients.
For more information about IES Texas Solar, contact the company here:
IES Texas Solar
IES Texas Solar
2500 Chandler Dr #200, Rowlett, TX 75088