BayWa r.e. introduced new financing for small commercial solar projects, adding to its existing residential solar financing. This addition, via exclusive partnership with Energy Partners Credit Corporation (EPCC), helps fill the underserved small-commercial market segment.
The partnership enables BayWa r.e.’s network of contractors to offer solar and ancillary energy-saving upgrades without any upfront costs to non-profit entities such as houses of worship, schools, HOAs, community organizations and hospitals & health organizations. Because non-profits cannot take advantage of the federal investment tax credit, it can be difficult for them to realize the economic benefits of solar economic through a direct purchase. While the banking industry has typically viewed non-profit organizations as risky, EPCC caters to this segment by offering power purchase agreements which help to lower electricity costs.
This addition aligns with BayWa r.e. Solar Systems’ distribution strategy to continue adding services that enable local solar companies to compete on a large scale. Boaz Soifer, responsible for the US-market and CEO of BayWa r.e. Solar Systems LLC, summarizes, “We’re excited to partner with EPCC to offer local solar installers in key geographies a compelling way to engage non-profits. This has long been an underserved market segment, and could again be neglected if the Federal Investment Tax Credit is reduced as planned at the end of 2016. Our dealer network can now make hay while the sun shines!”
EPCC was founded by a group of experienced tax equity investors and has financed hundreds of small commercial solar installations.