What is the standard term of power purchase agreements for non-profit entities?
The term of the PPA is typically 20 years. However, unlike most PPA providers, Technology Credit contractually allows you to purchase the solar system at the 5th and 10th anniversaries of PPA commencement for fair-market-value. This way, if you choose, you can move to ownership maximizing your long-term savings and not be stuck in a 20+ year commitment without options.
Are there any upfront costs for me to finance my solar project?
Our solar financings are designed to be a “no cash out-of-pocket” experience. We will finance construction and purchase your system from the contractor. Your payments will be made monthly as you enjoy the utility bill savings provided by your solar system.
Who chooses the solar contractor that will build my system?
You do. You contract with a contractor of your choosing to size, design and price a solar system for installation on your property. You separately enter into a finance contract with us which requires us to pay for and purchase your system, and either sell you electricity or lease you use of the solar system. If you need help selecting a contractor, we can recommend one based on our extensive firsthand experience with dozens of contractors.
Will you lien my real property as collateral?
No. Our only collateral is the solar system which the finance agreement stipulates is our personal property.
Will you require a personal guaranty from a business owner or other principal?
No. Our underwriting policies are specifically designed to not require such guaranties.
How long will it take you to credit approve us?
Once we receive the financial information necessary for making a credit decision, it typically takes one week or less to provide you with a decision.
Once we are credit approved, how long will it take to know the money is available to fund my project?
The funds will be immediately ready for deployment. Unlike most others offering solar financing, we hold all financing contracts on our own balance sheet using our own cash and capital facilities in place for over a decade.