Solar Energy Project for Financing

Tips on Submitting Your Solar Energy Project for Financing

Hello, sunshine! That's the sentiment among a growing number of entrepreneurs who are staking their claim to solar farms. The future looks bright for these folks, as the business of supplying solar to the grid is proving to be one of the most profitable segments of the energy sector.

Much like any other type of infrastructure improvement, implementing solar energy systems requires capital and careful financing. However, forming good partnerships makes the process much easier. How do you get in with the right people? Understanding the process and the players can help ensure success when submitting your solar energy project for financing.

Where Does the Money Come From?

They say performing good deeds are their own reward, and this is very much the case when you work with alternative sources of energy. This is a growing field worldwide, and there's a lot of money flowing around. It seems to be coming from everywhere at once. The good news is that you don't have to be tapped into the global zeitgeist to succeed. Just submit your solar energy project for financing to a company that has a diversified international presence.

The Forecast Calls for Submission Success

Financing is a two-way street. Your lenders are offering vital capital, but you're offering something valuable as well. Make sure you find a company that understands the growth potential of your venture. Solar equipment is decreasing in cost while government incentives for using alternative sources of energy are increasing in number. These are the types of statistics that appeal to organizations when they are considering financing your solar energy projects, so make mention of how they apply to your proposal.

Keep in mind the aforementioned criteria and the task of submitting your project should far less onerous. You'll notice that as soon as you start narrowing down the field, there are a limited number of prospective business partners out there. What looked like a big messy research project turns into a few quick meetings. However, even if you had to spend a couple months, it's no secret that finding good financing is well worth the time investment.

Looking to make the process of submitting your solar energy project for financing even easier on yourself? You're in luck: here are a couple of quick reference points that should speed up the process. Keep the following tips in mind when completing the submission process to your chosen finance companies:

  • Power purchase agreements, operations and management contracts and engineering, procurement and construction contracts can heavily impact your odds of obtaining financing.
  • Make sure the estimates for your current annual kWhr consumption or usage, current utility cost per kWhr, average cost of electricity per year, percent of power the project will generate and the difference between your current annual bill and your bill after one year of solar production are all accurate.
  • When providing the estimate for the total project cost, include any applicable taxes.

Position yourself at the vanguard of the renewable energy revolution with smart partnerships. Follow these tips, and let the sun shine in by submitting your solar energy project for financing.

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19 Sep 2017

By Howard
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