Due to their obvious financial as well as environmental benefits, solar energy systems have been booming in popularity in Denver lately. This high demand has been met with some great deals and discounts offered as incentives to go solar, leading to the cost of switching your Denver property to solar power being cut in half in recent years. This is in part due to a financial assistance program signed into law by the Colorado legislature that allows commercial property owners in Denver to install solar systems for no money upfront by funding the installation through government or private investors and repaying via property tax assessments.
If you are interested in having a solar panel system installed at your commercial property in Denver, but do not have enough cash to pay for the start-up costs, you can apply for CPACE funding. This financing program offers liens to Denver property owners on their property taxes as a way to pay for the solar system over time while having it fully funded upfront. Repayment terms to capital investors in the CPACE program are fairly flexible (with term lengths of up to 10 or 20 years) and a great option for those in Denver who can see the big picture of investing in solar energy. All Denver commercial solar installation projects are reviewed by a CPACE administrator that Ecology Solar will introduce you to and work as a liaison for. Their job is to make sure the designed system meets industry standards, provide owners with an assessment on potential solar savings, and connect them financers in Denver that can assist you through a CPACE lien.
Check out this short video that explains how the program works.
The local government and Denver energy companies work together for CPACE jobs under the common understanding that solar systems are an investment that generates fast and fruitful returns. Property owners that qualify for the program pay back the investors that financed their solar systems through a voluntary assessment of their property taxes. While they have to repay the funding in monthly increments, the extra cash leftover from lower energy bills at Denver properties tends to outweigh the lien payments. Switching to solar results in utility costs dropping anywhere from 20 to 100 percent of what they were previously, and those savings can be used to pay off the CPACE financing. We routinely see Denver customers with money left over because their utility costs are so low, and a good financing deal can spread repayment out up to 20 years.
You can go solar in Denver today for minimal or no money! The recent move towards sustainability means solar is becoming more and more affordable. There are a number of programs to help property owners install a solar system with zero upfront costs via funding from the CPACE program. Call Ecology Solar today for more information on if your Denver commercial property qualifies and what kind of financing is available. We can connect you with a CPACE program administrator who can explain financing options in detail so you can start to price out costs.