Solar Installer Unlocks Energy Cost Savings for Non-Profit Medical Facility with Braggawatt’s Financing Platform

Innovative online tool democratizes access to solar power for small &
medium-sized enterprises seeking cost savings through clean energy

CHARLOTTE, N.C.–(BUSINESS WIRE)–Braggawatt Energy today announced that its online
financing platform, a proprietary online process that delivers
financing to distributed energy solutions for small and medium-sized
enterprises (SMEs), enabled a 72 kW solar installation for a non-profit
medical facility in New Jersey. Energy
Solutions of New Jersey (ESNJ) tapped the platform to finance a
rooftop solar project for customer Southern
Jersey Family Medical Centers, Inc. (SJFMC) in Burlington, New
Jersey. Braggawatt’s financing enables the ESNJ-built project to reduce
the medical center’s kilowatt-hour rate by 37 percent, yielding utility
cost savings of 13 percent in the initial year of operation.

SJFMC sought a clean, onsite energy solution to lower its electricity
costs and reduce carbon emissions for more than two years, but struggled
to access the financing crucial to bringing the project to life. SJFMC
engaged ESNJ for building electrical services, and ESNJ recognized the
potential to enable the project through a Power Purchase Agreement
(PPA), which provides solar energy-as-a-service. After investigating a
number of PPA financing providers, ESNJ turned to the Braggawatt
platform, which proved to be the only solution able to accelerate the
financing process and streamline the project through the underwriting,
contracting and implementation stages.

“Braggawatt’s online financing process has finally filled the gap for
our small and medium-sized commercial customers. We put Braggawatt to
test and obtained, in record-time, financing terms that no other
provider was able to offer,” said Energy Solutions of New Jersey
President Gary DeFillippo.

“We are excited to unlock many more SME projects using Braggawatt’s free
online platform, which instills great confidence in our team and
customers,” added Energy Solutions of New Jersey Vice President Steven
Veltri.

The Braggawatt platform provided process, profit and cash-flow certainty
which made the solar integrator’s work at the medical facility seamless.
Historically, SMEs have faced significant barriers and limitations when
trying to secure financing for distributed energy projects, even though
99 percent of American businesses fall within the SME category. By
offering an intuitive and free online financing process, milestone
payments, and appealing PPA and loan rates, Braggawatt is opening up new
opportunities for this underserved market.

“Being able to expand upon our existing relationship with ESNJ to cover
our facility’s rooftops with solar panels is game-changing,” said
Southern Jersey Medical Center, Inc. corporate CFO Ronald Kaplan. “Using
clean, cost-effective energy resources to power 20 percent of our
electricity load is of great benefit to our facility and the community
at large, and our PPA rate is 37 percent lower than what we currently
pay for electricity. This is a true win-win scenario.”

SJFMC will incur 13 percent utility cost savings in the first year
following project completion, and will be protected from exponential
energy price increases in the long-term.

“Our financing platform ensures process and financing certainty that
empowers more SMEs, like SJFMC, and dedicated regional solar installers,
like ESNJ, to focus on what they do best and rely on us for the rest.
ESNJ and SJFMC have been model partners, and we look forward to enabling
many more SMEs with distributed energy solutions worth bragging about,”
said Braggawatt CCO and Co-Founder Oleg Popovsky.

About Braggawatt

Braggawatt is a data and analytics company whose end-to-end origination
and financing platform helps integrators connect small and mid-sized
distributed energy projects with smart financing options, allowing
end-customers to immediately benefit from energy cost savings and
investors to secure superior, risk-adjusted returns at scale.
Braggawatt’s platform and process-centric approach is free to use and is
built to support the value integration across the distributed energy
ecosystem.

Contacts

Antenna Group for Braggawatt
Liz Crumpacker, +1-646-494-7482
[email protected]