Please note that most financing available to Solar Choice commercial clients these days is handled directly through the installers in our network, who each offer their own packages with their own partners. The package described below is one which was offered directly through Solar Choice, and which may provide some insight into potential finance approaches available to customers.
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Solar Choice Commercial offers a unique finance package to provide ultra-competitive stimulus for the Australian commercial PV market.
The Package is available for the Australian solar PV industry at large, both for projects sourced directly by installers and manufactures as well as large scale PV tenders under the management of Solar Choice Commercial.
The Framework
1. An operational lease allows for use of the equipment without capital expenditure on a term rental arrangement. This form of lease has been in common commercial use for decades, and is well known to and accepted by the ATO. Several commercial 100kW installations managed by Solar Choice Commercial have already been settled and installed with the package, including Blacktown RSL in Sydney.
2. For projects sourced directly by PV retailers or manufacturers, confidentiality is assured to allow the financier to vet the credentials of the client without Solar Choice or rival installers potentially being informed of the client’s details.
3. Commercial Asset Finance Group Australease (CAFGA) has 30yrs experience in financing Australian business. CAFGA and Solar Choice Pty Ltd have entered into an exclusive arrangement for the dissemination of this package to stimulate substantial uptake of commercial PV in Australia.
4. There is no upper limit on amount of finance available to qualifying applicants. The minimum amount is $50,000.
Key Advantages
1. No capital expenditure is required for the installation to be completed.
2. Allows instant parity with commercial electricity tariffs.
3. As the rentals may be tax deductible there can be major advantages over a cash purchase aside from the obvious conservation of working capital.
4. Rental amounts are typically paid monthly over a 5 year period to qualifying applicants.
5. Long term arrangements can be discussed during the finance application process.
Procedure
1. For clients sourced directly by the installer, an application is made directly and confidentially to CAFGA setting out details of the customer and related solar PV project, the components and warranties. CAFGA will vet the installer and client’s financial eligibility. CAFGA’s energy finance broker, Graham Harris, is available to help confidentially educate installers and their clients on the details of the Package.
2. Solar Choice Commercial, in its exclusive advisory role for CAFGA, then makes representations to CAFGA regarding the bankability of the proposed solar modules and inverters, plus all relevant warranties (manufacturing, performance and workmanship) without knowledge of client or project details.
3. Upon approval by Solar Choice Commercial, the installer invoices CAFGA directly, and the system is paid for in full upon the client signing a Notice of Completion.
For further information and a personal introduction to CAFGA, please contact Solar Choice via email:
Angus Gemmell, Managing Director, angus@solarchoice.net.au
Matt Lasauce, Commercial Project Developer, matt@solarchoice.net.au
Telephone (only for projects valued at $100,000 or greater):
Matt Lasauce: 0410 124 850
(In addition to the one detailed above, Solar Choice is now offering a 2nd Commercial Solar Financing Package.)
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