TEQlease Education Finance leases and finances more than just student devices and technology for schools. TEQlease leases and finances all types of equipment, including buses, modular buildings, furniture and more, to schools, government and non-profit entities. Recently, TEQlease has leased and financed renewable energy projects such as solar installations, EV charging stations, HVAC, and LED lighting retrofits.
The Inflation Reduction Act of 2022 has completely changed the landscape for budgeting renewable energy projects for schools, government and non-profit entities. Before the new law, only for-profit businesses were eligible for significant tax credits that reduced the effective price of renewable energy projects up to 26% of the total cost. In effect, schools, government and non-profit entities were paying up to 26% more than businesses, and that just didn’t make any sense. However, now that has all changed: the new law allows schools, government and non-profit entities to transfer a credit of up to 30% of the cost of the project, thereby effectively reducing the project by 30% of cost. This makes energy savings that more affordable. Financing for solar installations tend to be structured either as equipment loans or equipment leases. When financed with an equipment loan, the end user customer is generally able to receive significant tax benefits associated with the project. When acquired using an equipment lease, payments will be lower but generally TEQlease will retain the tax benefits. Always consult your tax advisor for confirmation of the details. Terms tend to be based on 7-10 year amortization, with low competitive rates. TEQlease can also help with vendor progress payments during construction and delivery.
Now is the time to speak to your preferred renewable energy vendors about the new cost of projects. Once you have a vendor quote, speak with TEQlease Education Finance about structuring a corresponding finance quote. You will find that the financing is affordable, resulting in amortizing the cost of the project more quickly than before, and most often also resulting in cash flow savings from year 1. If needed, TEQlease can also pay progress payments to the vendor based on project milestones and metrics you negotiate with your vendor, as well as customize the finance quote according to your specific budget needs and goals.
Are you working on a renewable energy project for your school, government or non-profit entity and considering equipment financing? Contact your TEQlease account rep or Andrew Yasno, Renewable Energy Equipment Finance Account Executive, at ayasno@teqlease.com to obtain and review customized financing options for your project.
TEQlease Education Finance specializes in providing best-in-class equipment lease financing solutions for public, private, charter and religious schools across the United States. TEQlease Education Finance focuses on providing unparalleled service and on lowering acquisition finance costs, working with customers and equipment vendors through the entire equipment acquisition financing process. TEQlease Education Finance is a division of TEQlease Capital, founded in 2000 in Calabasas, California. For more information, visit https://www.teqlease.com/education_equipment_financing