LEASE | $1,350,000 | 285kW
This southern California family-owned organic soap and body care products company has a strong commitment to reducing its carbon footprint so solar was an obvious choice. They couldn’t use the solar tax benefits so Belvedere structured a 7-year lease for a 285kW rooftop/canopy system that reduced their electricity costs by almost $90,000 in the first year. Permitting problems with the city resulted in several redesigns of the system and the project stretched over almost two years. Belvedere worked closely with the installer the whole time and the customer ended up with a system that will generate $1.5 million in cash flow over its life.
While environmental considerations were a key factor in this customer’s decision to go solar, most manufacturers are primarily interested in saving money. And the economics of commercial solar are almost always impressive—no cash investment required, positive cash flow over the financing term, and cash flow over the system life equals as much as to three to four times the system price.