A state goal, and a small company's invoice
California's solar growth is credited to strong sunlight, community support, declining solar costs and a renewable portfolio standard requiring 60% renewable electricity by 2030 and 100% by 2045. Much of that is expected to come from photovoltaic or concentrated solar power facilities. Fresno is the largest city in the Central Valley, a region described as being predominantly tied to large-scale agriculture, and an installer there may serve rooftops, farm buildings and small commercial properties.
A policy target does not pay for panels. The installer does, and the customer pays later.
Mapping a job against the bank balance
| Stage | Cash out | Cash in |
|---|---|---|
| Design and permit | Staff time, permit fees | Maybe a deposit |
| Procurement | Panels, inverters, racking | Often none |
| Installation | Crew wages, fuel | Milestone payment, if any |
| Inspection and utility approval | Rework, if any | Final payment, usually after approval |
The last row is where jobs stall, because it depends on parties other than the installer.
For illustration: a farm shop roof and three houses
An installer wins a $90,000 system for a farm shop and three $25,000 residential jobs in the same month. It buys $85,000 of equipment and pays a crew of six for five weeks. Customers owe about 30 percent of each contract at final approval. If two of the residential jobs and the farm system are waiting on the utility, a large share of the month's revenue is in limbo while the next orders are due. These figures are an example and not our terms.
What an installer might fund
- An inventory buffer, so a supply delay does not stop a crew.
- A second crew or an extra truck in the busy season, through working capital.
- Lifts, trailers, test gear and vehicles; see equipment financing.
- A marketing push before the summer rush.
Installers who also serve farms should read the Fresno farm page, and fleet owners the trucking page.
Why commercial and farm jobs behave differently from rooftops
A residential system is usually priced in the tens of thousands and finishes within a few weeks of install. A system for a farm shop, packing building or warehouse is larger, involves more equipment and engineering, and may include payment milestones that depend on inspections and sign-offs by several parties. Larger jobs mean larger purchases of panels and inverters, and a bigger amount of cash sitting inside a single customer.
Installers who take on both kinds of work often discover that the commercial job pays well but pays slowly, while the residential jobs keep the crew busy but each carry a thin margin for error. Matching crew size to the job mix is easier when there is enough working capital to smooth the difference between the two.
Applying from the Valley
We fund from $25,000 to $5,000,000, with funding in as little as 24 hours after the file is complete. A FICO score of 500 or higher is considered. We ask for about three months of business bank statements, no tax returns, and a five-minute application with a soft credit pull. Sole proprietors can apply, including one-crew installers who have not incorporated. Start here.