Tim Kubes told a crowd at the SOMO Conference that the solar industry has electrons and financing, and everything else fits between. He said having a good finance product is key to being successful in the industry, allowing customers to install solar with a minimal amount of money down.
Kubes, vice president of sales and business development at Clean Energy Distribution, said thats why his company introduced a finance product in May. The program equips installers with lease and loan products to help them reach a wider customer base and secure more business. Clean Energy Distribution’s installers gain access to a suite of online sales tools to give them better visibility into the financing process and streamline communications to fast-track business.
This week, he introduced his company to installers at the SOMO conference in Las Vegas. While the conference focused primarily on mounting technology, Clean Energy Distribution was a sponsor of the event.
Kubes said Clean Energy Distribution can play the traditional developer role and typically focuses on commercial PV projects between 200 and 500 kW, though it will investigate options for projects as low as 30 kW. Construction financing is included, along with pre-selected technology options and logistics.
“Our objective is to support the local folks with a product that allows them to compete with the biggest companies,” Kubes said. Once the company receives credit documentation from a customer, a financing decision can be made in about a week, he said.
Commercial prospects with a good chance of receiving financing have roof or ground space with good solar resources. The business will be profitable, Kubes said, and in operation for at last three years. The business’ assets are owned and greater than two times the projected cost of the PV system. If the project will be for a non-profit organization, it must have little to no debt.
Kubes also said the final Installation cost must be less than $2.50/watt in California, Hawaii and the Northeast and less than $2/watt elsewhere.
“You must really understand your costs, and that’s something we can help you with if you’re doing commercial systems,” Kubes said.
Kubes said a lot of projects don’t get across the finish line because installers don’t have the financing expertise required to complete a project. Clean Energy finance can offer support in writing proposals and agreements, and they’ll consult with customers directly.
The process begins with information gathering. Installers enter basic information to determine credit worthiness and develop an energy analysis. The installer also lists preferred component manufacturers and an estimated construction start date. Once the information is analyzed, Clean Energy Finance will return a proposal, which can be customizes by the installer in their own format and presented to the customer.
“We believe with this product you can install more solar systems,” Kubes said. “We’re happy to help make sure that’s done in a streamlined way and everyone is happy with the result.”
