| The explosion of residential and commercial buildings going "green" with solar panels is mind boggling. The main objection to the installation of new solar panels is the high cost for the average home owner or commercial building owner. "The up-front costs can be fairly high, while the payback can take 10 or more years," says Randy Zechman, President of Clean Solar Inc., a solar installation company located in San Jose. There are tax credits and other incentives, but these only assist with a small part of the cost for the consumer and normally come only after the installation is complete.
In an effort to combat the high out-of-pocket expenses for the new solar customer, installers like Clean Solar now accept the rebate that is normally provided by the energy companies to the customer as part of their payment. This can leave the installers with a serious lack of cash flow. "Solar panels are not cheap, and offering to offset our installation fees by using the rebate offered by the energy companies' can help our customers make the decision to install now," says Zechman.
This generosity doesn't come without a price. Many solar installers must wait until the solar project is complete and then apply for the rebates. It can take up to several months to receive those rebates. Mr. Zechman has found the perfect solution for this issue. "I discovered an invoice factoring company that will provide me cash today for those rebates, so I can operate my business efficiently." |
