PACE for Agricultural Property
Reduce your energy bills with 100% financing – Long Term Financing and No Money Down
SPEP™ offers Commercial Property Assessed Clean Energy (“PACE”), a long-term financial product to help small agriculture customers, family farmers, commercial and agribusiness property owners’ increase operating cash flow while realizing the cash-saving benefits of solar energy and energy efficiency improvements to their properties. And, the best part is there is no money down.
Encumbers Property Not Personal Credit
SPEP™ PACE financing is based on the true value of your property not on personal credit or income unlike traditional bank financing, loans, and all other lease programs. PACE financing has a fixed rate from 5-20 years and requires no money down. PACE payments are similar to other assessment payments on your property tax bill. Even if you sell your property, the PACE assessment payment will transfer to the new property owner.
PACE is an Investment
Opting for agriculture pump and irrigation system efficiency upgrades when combined with solar energy, will help you lower your electrical bills, improve cash flow and lock in low energy costs for many years to come. When a solar system is installed, your energy savings can offset the cost of the SPEP™ PACE financing and it will likely create positive cash flow from day one.
Federal Tax Incentives and Local Energy Rebates
Local utility rebates combined with Federal and state tax incentives will lower your PACE investment significantly and if you did not already know, going solar provides you with a 30% to 40% investment tax credit (ITC).
Increased Property Value and Cap Value
Energy efficiency and solar energy improvements to your agriculture well pumps, commercial farm operations, and agribusiness buildings will increase the value of the property and fetch a higher sales price when sold. An increase in capitalization value gives you more equity in your property. Reevaluating with your financial adviser and a line of credit may be available for long-range planning.
Find out how much you could be saving today! Start by sending us a copy of your current utility bill(s) – CLICK HERE