Renewable energy was the fastest-growing energy source in the United States between 2010 and 2020, growing 42% in usage over the decade. As renewable energy businesses continue to emerge and capitalize on this market opportunity, securing external funding will be tantamount to their success.
Sanat Patel, Extensia Financial’s Chief Lending Officer, expresses the importance of renewable energy lending today: “Renewable energy loans help fund projects that are good for the environment, but they can also provide significant financial benefits to borrowers over the long term. By investing in renewable energy projects, borrowers can reduce their energy costs while promoting a cleaner, more sustainable future.”
As you continue reading through this article, we will discuss what renewable energy loans are, the types of projects they can fund, and why Extensia is the ideal lending partner to fund renewable energy projects.
What are Renewable Energy Loans?
Renewable energy loans, sometimes referred to as green loans, are a form of financing that allows borrowers to fund the installation, development and operation of renewable energy projects.
It goes without saying, these types of loans are important for the progress of environmental objectives. While some renewable energy projects can be capital-intensive, most come with perks to incentivize green investment, including a reduction or elimination of electric bills and federal investment tax credits, to name a few.
Here are some of the projects you could fund with a renewable energy loan:
- Installing solar panel systems to the roof of your commercial building
- Adding wind turbines outside your commercial building
- Making energy-efficient upgrades to your property like better HVAC systems or insulation
The Power of Extensia’s Renewable Energy Loans
At Extensia Financial, we’re passionate about the expansion of clean energy through green investments across the U.S., and even around the world. While there are many lenders out there that offer renewable energy loans, Extensia’s dedicated focus, efficiency and experience in solar energy and waste energy projects sets us apart. This expertise allows us to offer tailored lending solutions that are unique to each borrower’s needs.
Our renewable energy lending products are useful in every aspect of renewable energy projects, from launch to growth. Loan products include pre-development, development, equipment, construction and mini-perm financing.
No matter the stage of development and growth of a clean energy business, we can help renewable energy entrepreneurs reach their goals of making the world a better place for generations to come.
About Extensia Financial
Established in 1998 and headquartered in Simi Valley, CA, Extensia Financial is one of the most seasoned credit union service organizations (CUSO) focused on commercial real estate lending, including competitive, flexible renewable energy loans. For decades, we have partnered with credit unions across the country to offer competitive and collaborative CRE loans. We also uniquely support and guide our partners through the entire lifecycle of our loans. Extensia Financial is a proud member of the AVANA Family of Companies.
Contact us today to learn more about becoming an Extensia Financial partner.