We consider individual financial and energy goals, and selectively partner with the region’s leading lenders, to provide the most economical plan possible for significant savings, increased profits, and long-term energy reductions. Project acquisition structures include zero down loan options, lease options, power purchase agreements, and direct cash purchases.
Commercial Property Assessed Clean Energy, also referred to as C-PACE, is a new NYS program that allows you to monetize your property with solar, whether it’s the roof of a building or a plot of land, without out-of-pocket costs. This solution is not held on your balance sheet, but is classified as a benefit assessment on your property tax bill, and therefore does not affect your credit.
With payment terms of up to 30 years, no personal guarantee needed, and no payment due until your system produces revenue, you gain greater profitability up front.
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Ideal for property owners, direct system ownership through a loan enables you to capitalize directly on federal, state, and local incentives and rebates. Loan payments are often less than your monthly utility bill, and interest paid on a solar loan is tax-deductible.
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Leases provide funding without significant upfront costs and offer predictable, fixed monthly payments.
A capital lease, which incurs interest, is similar to owning a piece of property, and will be treated as an asset on your balance sheet, allowing you to claim depreciation on the asset and capitalize on all available tax credits.
An operating lease is structured so that the lender is the owner of the system and recipient of its depreciation and tax credits. Similar to renting a piece of property, it is not held on your balance sheet. This option is most practical for those who cannot utilize the tax and depreciation benefits that come with a solar system.
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Cash purchases for direct ownership allow you to receive maximum benefits from federal, state, and local tax credits and incentives. Ownership helps reduce and often eliminate utility payments, providing a high return on investment.
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While not technically a funding solution, PPAs are a popular approach to commercial solar in regions with high electricity rates, like New York and Long Island. With a PPA, a third party owns and operates the system, and leases the energy that it generates to you at a fixed rate, protecting you against rising utility costs. The PPA rate is often lower than your electric bill, allowing you to save on operating costs over the span of the agreement, which is typically 20-30 years.
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EmPower Solar’s team of experts stay up to date on all incentives, rebates, special financing programs, and more. Our analysts will assess your needs, research opportunities, and bundle the best available incentives to get you the greatest savings and highest possible return on your solar investment.
Our team is well-versed in NYC’s new building and sustainability requirements and will ensure that you remain compliant with local laws.
These local laws require that any projects involving structural changes to new or existing roof decks must include the installation of solar photovoltaics or a green roof across all available roof space. If the building cannot accommodate a minimum of 4kW of solar or 200 square feet of green roof, the building may be eligible for exemption
This law aims to place carbon caps on most buildings larger than 25,000 square feet—roughly 50,000 residential and commercial properties across NYC. Beginning in 2024, the law will be enforced through fines based on emissions levels per building.
