LFC Capital in Program Agreement with ViZn Energy Partners



ViZn Energy Systems announced it partnered with equipment leasing and financial services firm LFC Capital to offer a leasing program for its flow battery energy storage systems that are paired with solar PV installations for commercial and industrial micro-grid applications.

ViZn said the five- to seven-year lease will be available for 50- to 1,000-kW commercial solar projects that require 80- to 100-kWh of storage — typically up to $5 million installations, according to Ron Van Dell, CEO of ViZn.

Customers will be able to purchase the system after the lease is up, similar to a car lease. The systems currently cost up to $540 per kWh for larger installations, according to Van Dell. The average monthly cost of the lease depends on the size of the system — for example, a 250-kWh ViZn system with solar generation would likely cost just under $10,120/month.

Projects where a power purchase agreement is not worth the overhead are in the “sweet spot” for this deal where the simplicity of a lease works well, said Van Dell.

“Leasing makes sense for solar, and storage allows for better returns, so why wouldn’t you extend financing to solar plus storage? This is our first step in that direction,” said Van Dell. “We’re responding to what customers want.”

Van Dell hopes to see this type of financing spark a similar growth period in energy storage that solar has seen in the past few years. ViZn has gained “dozens” of projects in its pipeline in just one year, and Van Dell said this program might ramp up business by a third.
“The availability of various kinds of financing schemes for solar was fundamental for accelerating the adoption of residential solar,” said Van Dell. “Our focus is more on commercial, but we think the effect will be exactly the same.”


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