Amicus Solar Cooperative, a purchasing cooperative that is 100% owned and democratically managed by its member companies, has obtained an initial allocation of $50 million for qualifying businesses desiring solar through LFC Capital’s Solar Ownership Program. This Amicus/LFC Capital collaboration represents the first round of a multi-stage rollout of program funds planned for future solar photovoltaic (PV) projects.
LFC Capital, Inc. (www.lfccapital.com), a full service equipment finance company with more than $1.5 billion of experience, created the LFC Solar Ownership Program to be the low-cost way for companies that cannot monetize ITC to purchase a solar system. According to Stanley S. Fishbein JD, LLM (Tax), Managing Director at LFC Capital, the program uses a traditional operating lease as the vehicle to share the monetized value of tax benefits with companies, thereby creating an affordable path to ownership in six or seven years.
“We are thrilled to partner with LFC Capital to help our members meet the needs of their clients,” said Stephen Irvin, president of Amicus. “The unique program Mr. Fishbein and his team have developed for our members is an elegant solution for financing small to medium sized commercial and industrial projects.”
Amicus Solar Cooperative (www.amicussolar.com) exists to support its membership of independent solar PV developers, EPC’s, integrators, and installation companies. Amicus members have been running successful businesses for an average of 13 years, delivering the highest quality of workmanship and professional services. Amicus is the first purchasing cooperative in the U.S. solar industry, and is currently made up of 32 member companies, each operating under their own brand names in 45 office locations across 23 states.
SOURCE Amicus Solar Cooperative