Saving Money While Saving the Earth: Forth Energy Offers Turn-Key Solutions

Anyone who watches the news fills their gas tanks, or shops at a grocery store is aware of the ridiculously rising prices of just about everything. Even basic necessities, including electricity, are becoming difficult to afford. In fact, according to the latest analysis by Cornwall Insight, energy bills could soar by 48 percent as early as April 2023. With the rising costs, businesses can be the most affected and are looking for ways to avoid unmanageable operating costs. 

Most people have heard about the benefits of solar solutions when it comes to both environmental and electrical needs, but they don’t fully understand how to implement them in their businesses. Thomas Dungan, Founder & CEO of Forth Energy identified an increasing demand for commercial solar solutions and realized that many companies do not have the available capital to pay for it upfront. By combining his knowledge of the solar and financial industries, he created a turn-key business solution to help customers see real results in driving down costs. “We believe that owners know how to best run their business best,” says Thomas. “And we give them control by converting their electrical needs from a volatile variable cost to a riskless, long-term fixed cost.”

An important point that he wants to drive home is that Forth Energy does not increase a company’s electrical costs, a concern many businesses have. “With on-site solar, we offset the electricity that you receive from the utility and are repaid over time at an agreed upon, fixed rate per kilowatt hour, usually lower than the current rate that you are receiving,” explains Thomas. “Knowing not only where your energy comes from but that it is locked in for the long-term is the peace-of-mind business owners deserve.” In addition to serving as a turn-key financing solution, Forth Energy also provides the option for long-term operating and maintenance coverage to ensure the system is monitored, cleaned, and provides reliable energy production. 

Reducing the Business Carbon Footprint

According to Thomas, companies in today’s environment want to implement solar energy and participate in tangible ways to combat climate change, but they don’t have the financing needed to do this in a scalable way. “Businesses make up more than sixty percent (60%) of the electrical needs in the United States,” and Forth Energy was created to help enable businesses to embrace the savings and environmental change this country needs. Now is the time for businesses to consider solar and financing options related to it due to energy costs in most areas doubling in the past year. Solar costs have decreased significantly over the past 6 years, solar applications are now more than ever financially feasible for businesses to implement on-site. Forth Energy works with businesses and Engineering, Procurement, and Construction (EPC) companies nationwide to implement solar solutions.

Another issue facing many companies looking to reduce their energy costs and help the environment is that they don’t have enough financing options from which to choose “I saw in the post-COVID environment that businesses wanted to implement solar solutions but didn’t have enough flexible financing options available to them,” explains Thomas. “Forth Energy was created to fix that by aiming to provide three things to customers: day-one savings, long-term fixed energy costs, and no upfront capital cost.”

Growing Solar Solutions

Success, according to Thomas, is seeing businesses embracing the shift to implementing tangible on-site solar solutions. “In one year, we would like to expand our financial offering to engineering, procurement, and construction (EPC) companies so that they build solar arrays for customers that might not have the cash on hand to develop a capital-heavy project. Whether a solar carport or a rooftop system works best for your company’s needs, we are your energy advocate.”