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Sopris Solar is Colorado’s premier solar provider. Locally-owned and nationally recognized, we have hundreds of commercial solar customers throughout Colorado We custom design every solar installation for our customers and offer purchase, finance, and options.
We help you gain control of your power with a solar system that delivers electricity at a fraction of the cost you currently pay your utility company.
With over a decade of experience performing solar system installs for hundreds of businesses, government facilities and utilities, we know how to help you improve your business’s energy efficiency. Commercial solar systems in Colorado, can be mounted on the roof of your building or integrated into a different application, such as parking canopies, depending on your facility space and location. Sopris can work with you to discuss your needs and will custom design a system based on your requirements.
— PAYMENT OPTIONS —
Financing Options Available
Commercial Property Accessed Clean Energy Program (C-PACE)
You don’t have to pay for the entire system upfront. Our team is trained to help choose the best option that fits your needs. By answering a few questions, we can provide a financing option from our approved and vetted financing partners that fit your goals – helping you stay cash-flow positive for the life of the financing.
With generous tax incentives, simple payback for solar projects range between 5-7 years for most for-profit businesses looking to buy systems outright. For companies looking to have no up-front cost, the Colorado Commercial Property Assessed Clean Energy Program (C-PACE) enables owners of Eligible Commercial & Industrial Buildings to finance up to 100% of Energy Eligible Improvements. Financing is provided by private Capital Providers at competitive rates with repayment terms up to 20 years.
Building owners are empowered to modernize building energy infrastructure, lower energy costs, increase building comfort and asset value – with no upfront costs while enjoying positive cash flow.
C-PACE financing repayment is facilitated through the County property tax assessment process. A voluntary assessment (similar to a sewer district assessment) is placed on the building owner’s property tax bill. The assessment is repaid over the financing term (up to 20 years) and the annual energy cost savings will, in most cases, exceed the annual assessment payment, thereby enabling capital intensive equipment upgrades. Because the C-PACE assessment obligation runs with the property, the assessment automatically transfers to the next owner when the property is sold.
The simplest path to financing a solar project is to purchase the system directly. You buy and operate the solar installation which allows you to directly benefit from any available federal, state and local solar incentives. If you have available capital and tax appetite to absorb tax credits and accelerated depreciation, you may find cash purchases to be the best option.
Financing a solar installation is a good option for business owners that do not have the money required for an upfront purchase. Loans are repaid with a fixed monthly cost and low interest. Business owners can still benefit from the ITC, making loans a very appealing offer. Like a purchase, the homeowner is protected with product warranties (fulfilled by the manufacturers) and the Sopris 25-year Workmanship Warranty. Instead of a high electric bill from the utility each month, customers have a lower-cost loan payment for their solar. The loan is transferrable or can be bought out in the event you decide to move.
Federal and State Incentives for Solar
There are two major incentives that make solar attractive for a business. The first is a limited time 30% federal tax credit – effectively providing a 30% discount of the cost of a solar power system in the first year. The ITC was set to expire at the end of 2016; fortunately, as of December 2015, it’s been extended for five years. It will retain the 30% rate until 2019. In 2020, however, the rate will fall to 26% and then further drop to 22% in 2021, after which it will remain at 10% for commercial solar.
The second incentive is accelerated depreciation (commonly referred to as MACRS) which provides the ability to depreciate solar over 5 years with the depreciation front loaded at the beginning of the depreciation period.