Freedom Solar Launches Commercial Solar Financing Vehicle in Texas

The company said in a statement that financing through it allows companies to finance up to 70 percent of the cost of an entire solar installation and ensures that an investment in solar is cash-flow positive from day one.

Freedom Solar Financial Services, the first solar financial vehicle of its kind in Texas, has raised an initial round of USD 7.5 million in funding to finance commercial solar projects.

The company said in a statement that financing through it allows companies to finance up to 70 percent of the cost of an entire solar installation and ensures that an investment in solar is cash-flow positive from day one.

Freedom offers a simple one-page application and a rapid one-week underwriting process.

The Freedom Financing program is based on more than a decade of experience working with hundreds of business owners to make solar work for them, it added.

Securing financing for commercial solar projects, which can be key to creating an attractive investment profile for onsite solar generation, can be difficult and complicated.

Commenting on the development, Freedom Solar, CEO, Bret Biggart said, “Finding a financial services product that works well for businesses is a challenge because the asset class and economic drivers of solar are unique.”

“Freedom understands solar and what our clients need. We are stepping in to make capital available for companies who want to go solar in a way that maximizes their return on investment,” Biggart added.

“With the deadline looming for the 30 percent tax credit, we are seeing greater interest from businesses who have been on the fence about solar for a while,” says Kyle Frazier, Chief Revenue Officer at Freedom Solar. “Our waiting list for 2019 installations is already beginning to build, and people are realizing that the time to get started with solar is now.”