…is the average time from buying lights to cashing a rebate check
Energy rebates are amazing and you should thank your utility if they offer you one!
However we know that CASH IS KING when you’re a new business and your first commercial harvest is weeks away. Chances are your vendor needs to be paid for your new lights upfront, so you need cash to buy the lights the time from buying light to receiving the utility rebate check (steps #4 and 8, below).
Here is what is typically involved in a utility rebate
- Select lights
- Apply for rebate
- Utility inspection, review, rebate grant approval
- Buy lights
- Install lights
- Utility inspects and approves installed lights
- Possible 0.5- 6 month metering period to verify operations
- Utility routes payment request to accounts payable
- Grower receives rebate check
- Pay the tax-man his 280E cut of the rebate
Because of this funding gap Seinergy offers Energy Rebate Financing. This is not cheap money; but it is available for cannabis growers and unlike other lenders Seinergy is comfortable using and energy rebate as a receivable (collateral) while you get your grow off the ground.