WEST PALM BEACH, FLORIDA (PRWEB) SEPTEMBER 10, 2015
Today Demeter Power Group announced the first-of its-kind financing of a Florida commercial solar installation on the rooftop of a family-owned retail business in West Palm Beach.
One small deal for Demeter may create an enormous precedent for the solar industry in the Sunshine State.
Called a “PACE Lease®,” Demeter’s financing is the first to combine the tax-advantages of leases with an innovative, local-government-sponsored program called PACE, or “property-assessed clean energy.”
With funding from the U.S. Department of Energy SunShot Initiative, Demeter has already extended PACE financing using PACE Lease structure in the state of California.
In this latest Florida transaction, the small business owner was able to finance the system with no-money down in exchange for a flat annual payment that costs less than the corresponding payment to the local utility, saving the business owner money from the first day of operation. The financing was facilitated through the Florida Green Energy Works PACE Program.
Demeter is the first to pioneer this financing vehicle, with companies like SolarCity recently announcing that they will also begin targeting for-profit owner-occupied buildings in the small and medium business segment (SMBs) with a similar structure. Demeter’s innovative financing works not only with owner-occupied buildings, but also with multi-tenant and non-profit customers. Read more.