Published on March 9th, 2015 | by James Ayre0
ViZn Energy Systems Partners With LFC Capital To Facilitate Property Owner Acquisition Of Solar + Storage
March 9th, 2015 by James Ayre
The commercial & industrial energy storage systems provider ViZn Energy Systems is partnering with the leasing & financial services company LFC Capital to make solar + energy storage more affordable for property owners, according to recent reports.
The partnership will apparently see as much as $5 million in funding offered per lease (depending on many things, of course), and is expected to help spur the adoption of the new Z20 Energy Storage System (a zinc/iron redox flow battery).
The program to be offered by LFC Capital is reportedly based on a traditional operating lease, with solid ownership options after 6–7 years. The utilization of a “follow-on loan” is apparently being encouraged by the company — as a means of maintaining low monthly payments throughout a long investment period.
As far as “ideal” project size goes, LFC is reportedly aiming for solar PV projects between 50 and 1,000 kW in size, with energy storage requirements of between 80 and 500 kWh.
The Managing Director of LFC Capital, Stanley S Fishbein, commented: “We’re very happy to be partnering with ViZn to provide their customers with a low-cost way to acquire a battery-enhanced solar PV system. Our program is fast becoming the most popular way for companies to derive more value from a variety of incentives when undertaking a solar PV project.”
ViZn’s Vice President of Business Development, David Mintzer, commented on the partnership as well: “We’re excited to partner with LFC Capital. LFC’s program will make the combination of our energy storage system with solar PV affordable to a wider group of commercial and industrial property owners installing microgrids and give ViZn a greater presence in this important market.”