621 Energy offers a Capital Lease at competitive terms through our financing partners. The entire system cost or a portion may be financed via a 7-year Capital Lease secured only by a UCC Filing on the equipment. There is a $1.00 buyout at the end of the lease term.
This is considered a conditional sales lease, where the customer or Lessee is considered to have legal title of the property from day one. As a result, the Lessee is allowed to:
- Depreciate the full value of the property for tax purposes
- Utilize the 30% Federal Tax Credit
- Deduct the interest portion of lease payments from taxes
This capital lease offers the benefits of a competitive bank loan, but with minimal fees, simplified applications, quick turn-around and security provided only by the solar equipment.