Flexible end-user financing program opens doors for commercial installations, enables cash-flow-management and energy savings for small to mid-size companies
Alpine Power Systems, a MAGE SOLAR customer with nearly 50 years of experience in energy management systems, has completed a 135 kW commercial flat-roof PV-system in Atlanta.
The project was installed at the headquarters of SERRMI Products Inc. It combines 540 monocrystalline MAGE POWERTEC PLUS modules, racking, inverters, and BOS out of MAGE SOLAR’s product portfolio and was funded through a financing program established between MAGE SOLAR and CIT. This program was developed especially for the needs of MAGE SOLAR customers and provides equipment financing with flexible payment and finance terms for commercial end-users of MAGE SOLAR products. The combined forces of MAGE SOLAR, Alpine Power Systems and CIT Vendor Finance created a comprehensive procurement and financing solution to meet management’s critical year-end deadlines and objectives so that Serrmi could fully utilize the federal and state incentives as well as immediately realize energy savings.
“We’re pleased to announce the completion of the solar installation at Serrmi Products Inc.,” said Jon Centella, Marketing Manager at Alpine Power Systems. “This rooftop solar system showcases Serrmi’s sustainability efforts and will provide consistent financial savings for years to come.”
“When talking about solar systems people usually think Green,” said Bob Nielsen, CEO, Serrmi Products, Inc. “When we considered installing a solar system we were thinking return on investment. It just made business sense to install a solar PV system for our facility. In fact, more manufacturing companies should look at solar to control their power costs. Our installation went without a hitch thanks to Alpine, MAGE SOLAR, and CIT handling the financing. The system has been working like a charm for us. The power production is shown on our internetposted dashboard so we can see how our system is performing in real time. We estimate our payback to occur within a reasonable timeframe; and if the increase in electricity rates keeps progressing the way experts predict, we might breakeven much sooner.”
Over 27% of PV-systems in the United States are in the 100-500kW range (SolarBuzz market data, July 2012) and represent commercial and smaller industrial companies that are deploying solar to manage rising energy costs and lower their utility expenses in order to stay competitive. As a turn-key provider for complete PV-system solutions MAGE SOLAR has developed several dynamic financing options in partnership with global leaders like CIT that will provide commercial end users flexible, cost-effective solutions.
“We are pleased to provide Serrmi Products with the financing they needed to complete this installation,” said Nick Small, Managing Director of CIT Vendor Finance, US. “This is a great example of how Vendor Financing programs developed between CIT and manufacturers and energy integrators enable small businesses and middle market companies to acquire the equipment they need to help their businesses.”
“By offering our installers financing options for customers like Serrmi, the CIT Vendor Program has been a much needed and well received tool for many of our partners,” says Joe Thomas, President and CEO of MAGE SOLAR USA. “We would like to thank Serrmi Products for choosing MAGE SOLAR products and this great financing program to make their solar investment come to fruition. And of course, a heartfelt thanks also to our partners at CIT and Alpine Power Systems.”