Amicus Solar Co-operative, a purchasing co-operative owned and managed by its member companies, has obtained an initial $50 million for qualifying businesses desiring solar, through LFC Capital's Solar Ownership Program.
The Amicus/LFC Capital collaboration represents the first round of a multi-stage roll-out of program funds for PV projects.
LFC Capital, Inc, a full service equipment finance company with more than $1.5 billion of experience, created the LFC Solar Ownership Program as a low-cost way for companies that cannot monetize ITC to purchase a solar system.
According to Stanley S. Fishbein, managing director at LFC Capital, the program uses a traditional operating lease as the vehicle to share the monetized value of tax benefits with companies, thereby creating an affordable path to ownership within six or seven years.
"We are thrilled to partner with LFC Capital to help our members meet the needs of their clients," said Stephen Irvin, president of Amicus. "The unique program Mr. Fishbein and his team have developed for our members is an elegant solution for financing small to medium sized commercial and industrial projects."
Amicus Solar Co-operative exists to support its membership, of independent solar PV developers, EPCs, integrators, and installation companies.
Amicus members have been running successful businesses for an average of 13 years, delivering the highest quality of workmanship and professional services.
Amicus is the first purchasing co-operative in the U.S. solar industry, and currently comprises 32 member companies, each operating under their own brand in 45 offices across 23 states.
To learn more about Amicus and the LFC Solar Ownership Program, email info@amicussolar.com.
