Are you looking for financing for solar energy? Check out the financial institutions that provide credit for this form of enterprise.

In recent years, the sun has become an increasingly important source of energy. There are several reasons for this, including the fact that it is a pure energy that produces no pollutants, unlike fossil fuels such as oil and coal.

If you're a fan of this energy model and want to invest in it, you should know that several public and private financial institutions offer financing for solar energy. In this article, you'll learn about some of the most important alternatives and opportunities.

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Is financing solar energy a possibility?

Eligibility is a predominant concern when it comes to solar financing.

In Brazil, any individual or company connected to the distribution system can install solar panels and apply for credit from financial institutions.

Before releasing capital for your investment, however, everyone can set their own rules and guidelines, as we'll see below.

How does financing solar energy work?

Credit applications for solar energy are similar to those for other types of credit.

To start a business, you will need a budget. Most financial institutions require the company to be accredited and certified.

The applicant is then subjected to standard credit analysis and, if approved, the requested funds are made available.

What are the best financing alternatives for solar energy?

As technology advances, several financial institutions offer financing for solar energy.

Each one has its own laws; therefore, depending on your objective, one alternative is usually superior to the other. So tell us the main options you can apply for.

Bearing in mind that solar panel installations have an average life expectancy of 25 years.

So even if the financing is extensive, you will experience a long-term reduction in your electricity bill.

FNE Sol

FNE Sol is a solar energy financing initiative sponsored by Banco do Nordeste. As well as companies, rural producers and individuals can apply.

The incentive covers the widespread installation of renewable energy systems. In addition, wind and biomass initiatives are accepted.

The maximum amount that can be financed is one hundred percent of the value of the project, and the duration of the payments depends on the applicant, ranging from eight to twenty-four years.

BNDES

The National Development Bank is one of the alternatives for financing solar energy (BNDES). In this case, only legal entities are eligible for the credit (Legal Entities).

Several categories of projects are accepted, including the development of clean energy systems (which includes photovoltaics), support systems for generating energy from renewable sources and clean storage projects.

The interest rate is made up of the financial cost of the operation, the BNDES rate, and the rate that must be negotiated with the financial agent carrying out the operation.

The website makes the calculation easy to understand. The minimum amount required for approval is R$ 10 million and the maximum repayment period is 16 years.

The request can be made through a financial institution accredited to the BNDES.

Public banks

The main public financial institutions in Brazil offer financing for solar energy.

This is the case, for example, with Caixa Econômica Federal, which offers credit of up to five years for 100% of the photovoltaic (solar) project (60 months).

Banco do Brasil is another public institution you can consult. There are several plans available, including the Photovoltaic Plates Consortium and the BB Credit Renewable Energy Agreement.

Up to 90% of the cost of the system can be financed, with a maximum payment period of sixty months (five years).

Private institutions

Finally, private banks are available to consult on loans for the installation of your solar energy project.

For example, Bradesco offers financing with a term of up to 60 months and a grace period of up to 90 days. The full coverage of the system is attainable.

Santander, on the other hand, offers longer terms: a maximum payment period of 96 months (eight years) and a grace period of 120 days.

Given the variety of private financial institutions, we recommend consulting several banks and comparing their offers.

Would you like to find out about the main options for financing solar energy? Then contact us and ask us any questions you may have about this source of credit.

This can be an effective method of gaining access to capital and reducing business expenses.