PRESS RELEASE
CIC Energy Construction teams up with BSB Solar Commercial Funding to make Solar Power accessible to Illinois Businesses and Property Owners
Chicago, March 21, 2011: CIC Energy Construction & Supply, LLC, and lending partner BSB Leasing, LLC, have come together to eliminate the upfront costs associated with purchasing and installing photovoltaic solar systems. By removing this market barrier, CIC makes solar power much more accessible to Illinois business and property owners.
“As part of our turnkey service, we identify federal, state, and local rebates and tax incentives available for installation of solar electric systems”, says CIC Managing Partner Ken Anno. “After all of the rebates and incentives are applied, solar electric systems often pay for themselves in less than 5 years, while continuing to generate manufacturer warrantied returns for over 25 years. The initial investment had been a barrier for even the most interested customers, even when they could see that solar is a sound investment. Eliminating that initial investment hurdle, by utilizing the leasing model, means solar electricity is a real possibility for many more Illinois businesses.” Anno added that a similar financing option would be made available in Massachusetts, where CIC recently launched its subsidiary, CIC Energy East.
BSB Solar Commercial Funding will bridge the financial gap by offering CIC’s customers a financing option that will offer low, fixed, monthly payments. At the end of the lease term, the Customer will have a $1 purchase option. The monthly payments will be offset by the savings on energy bills that result from the newly installed solar systems, as well as the revenue stream from selling environmental attributes known as SRECs to utility companies to help them meet their state-mandated solar quota. SREC trading is handled through CIC’s subsidiary CIC Energy Asset Management.
With the addition of this financial solution through BSB, CIC continues to demonstrate its leadership as solar specialists delivering innovative solutions to its clients, allowing an incredibly easy, affordable, and turn-key solution.
CIC Energy Construction & Supply, LLC is a Chicago-based Energy Service Provider and General Contractor specializing in commercial and industrial scale renewable energy systems including feasibility reports, incentive consultation, system design, construction management, and system commissioning. By using the latest in innovative technology and offering cost-effective integrated service, CIC Energy delivers results that simultaneously meet environmental protection, economic development, and social goals.
About BSB Solar Commercial Funding
BSB Solar Commercial Funding is a full-service funding resource specializing in Direct Finance and Syndication Services for solar commercial equipment and installation leasing. BSB has been a trusted resource for commercial customers, independent brokers, vendors and financial institutions in the leasing industry for over 20 years. We provide businesses with access to capital to fuel growth and to allow for participation in the renewable energy market. In addition to being a trusted source for direct lending, our solid reputation has earned us privileged partnerships with more than 50 institutional funding sources and specialty lenders. These relationships enable us to offer a large selection of financing options. With our underwriting experience and your stable credit profile, we offer the most competitive rates in the industry and expedited funding. We’ll put all our resources to work to ensure your solar investment will yield a maximum return.
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