How Much Does Industrial Power Control Equipment Cost?
SCR power control cost rises with the current rating and with the step from single-phase to three-phase control. A first budget can rest on published list prices of similar new equipment from US distributors.
| Equipment | Rating | Published list price, new equipment only (US distributor catalogs, checked November 2026) |
|---|---|---|
| Single-phase SCR power controller | Up to 100 A | From about $200 |
| Single-phase SCR power controller | 60-225 A | From about $1,900 |
| Three-phase SCR power controller | 30-225 A | $3,100-$6,000 |
| Three-phase SCR power controller | 350-650 A | $7,300-$9,600 |
| Three-phase SCR power controller | Over 1,000 A | Price on request |
| Protection or regulation option | 60-225 A controller | $370-$1,130 each |
| Solid state motor starter (soft starter), 460 V | 17-412 A | $840-$4,400 |
Payne's Power Control Application Guide explains how the load type and line configuration affect the choice of model. A written quote for the selected model will provide the lender with the equipment cost it needs.
A controller on a production line may be exempt from West Virginia sales tax as machinery directly used in manufacturing. The buyer will pay the tax at purchase and ask the State Tax Commissioner for a refund or credit. A plant with a direct pay permit avoids this step, because the vendor won't collect the tax.
WVEDA Equipment Financing Program
West Virginia companies can borrow for equipment from a state lender, the West Virginia Economic Development Authority (WVEDA). The Legislature created its Equipment Financing Program in 2023 with $25 million in initial funds.
WVEDA's equipment program finances new or used machines. It also pays for upgrades and rebuilds of equipment the plant already owns, so a controller retrofit on an existing furnace may qualify. Trucks and other rolling stock aren't eligible.
| Condition | WVEDA equipment program | WVEDA Direct Loan Program |
|---|---|---|
| Who can apply | West Virginia small businesses in operation for at least one year | Existing or new West Virginia businesses in targeted industries, manufacturing among them |
| Loan amount | $50,000-$2 million per borrower, counting affiliated companies | $50,000-$15 million |
| WVEDA's share | The whole loan | Up to 40% of affixed machinery, or 35% of custom equipment; a bank lends a matching share |
| Interest rate | Fixed 3% if the loan is under 80% of the equipment value; fixed 4% at 80%-90% | Available from a WVEDA loan officer |
| Term | Up to 10 years, never past the equipment's useful life | Stated in the commitment letter |
| Down payment | At least 10% of the equipment value | At least 20% for affixed machinery; 30% for custom equipment |
| Collateral | WVEDA will hold the only first lien on the equipment | WVEDA and the bank share a first lien |
| Personal guarantee | Each owner with 20% or more of the company | Required on the same terms, or replaced by a letter of credit |
In May 2025, a sheet metal fabricator in Mercer County combined an equipment loan at the program's limit with a separate WVEDA direct loan. WVEDA's loan officers answer questions about these programs at (304) 558-3651. Before you call, you can compare equipment loan rates from banks with the state's fixed rate.
SBA Loans for Manufacturing Equipment
The U.S. Small Business Administration (SBA) backs small business manufacturing loans from banks and from nonprofit development companies. Equipment purchases can go through a 7(a) loan or a 504 loan. An SBA 504 manufacturing loan has a higher project limit than other 504 loans.
| Condition | SBA 7(a) loan | SBA 504 loan |
|---|---|---|
| Who lends | A bank or another SBA lender | A bank together with a Certified Development Company, a nonprofit SBA partner |
| What it finances | Machinery and its installation | Machinery with at least 10 years of remaining useful life |
| Maximum loan | $5 million | $5.5 million per project for manufacturers, $5 million for other borrowers; the bank's senior loan is separate |
| Repayment term | Up to 10 years, or up to 25 for equipment with a longer useful life; up to 12 extra months to install | 10, 20, or 25 years |
| Interest rate | Fixed, or variable with a cap of prime + 3%-6.5% (the lowest cap on the largest loans) | Fixed, tied to 10-year U.S. Treasury rates |
| Down payment | Set by the lender | At least 10%; 15% for a business up to two years old or a special-purpose building |
SBA charges the lender a one-time guarantee fee. The lender may pass it on to you. Manufacturers (NAICS industry codes 31-33) will pay no upfront fee on 7(a) loans up to $700,000 approved by September 30, 2027. Businesses in rural areas receive the same relief.
Other 7(a) borrowers pay 2%-3.75% of the guaranteed part, by loan size. If you split a purchase into two 7(a) loans approved within 90 days, SBA will count them as one loan for this fee.
Equipment Leasing vs. Buying: What Makes Sense for Your Plant
A purchase makes sense for equipment the plant will keep in service after the last loan payment. A lease may be the better choice for equipment you plan to replace within a few years.
| Condition | Buy with cash or a loan | Lease |
|---|---|---|
| Owner of the equipment | Your company; the lender holds a lien until the last payment | The leasing company |
| Tax deduction | Up to $2,560,000 under Section 179 in 2026, reduced once purchases exceed $4,090,000; or 100% bonus depreciation (the full cost in year one) on equipment acquired after January 19, 2025 | Lease payments, as rent |
| Condition for the deduction | Business use over 50% in the first year | The agreement is a true lease |
| End of the term | The equipment will remain yours | Returned to the leasing company or bought out, as the contract allows |
The Section 179 deduction is an election you make on Form 4562 for the year the equipment goes into service. It can't exceed that year's taxable business income. Any cost above this cap will carry over to the next year.
The IRS doesn't allow a rent deduction for payments under a conditional sales contract, an installment purchase written as a lease. A lease that ends with a buyout at a nominal price may count as one. We advise you to check its tax treatment with your accountant before you sign.
Financing Checklist for Equipment Purchases
Before you apply to WVEDA for capital equipment financing, we recommend preparing these documents from its pre-application checklist:
Project cost breakdown: machinery and equipment as a line separate from building and construction costs. We advise attaching a written supplier quote for each machine.
Financial statements: three years of year-end results and an interim statement for the most recent month-end.
Project narrative: the company's history and what the project will change in your operation.
Employment details: current full-time jobs and the positions the project will add. WVEDA asks for the wage ranges and benefits of each. A project that keeps existing jobs needs a short explanation.
WVEDA's board approves loans at its monthly meeting on the third Thursday. Before the vote, WVEDA will confirm the company is current on its state and payroll taxes. Direct Loan applications have to arrive complete by the first business day of that month. An equipment loan can receive preliminary and final approval at the same meeting.
An SBA loan needs its own paperwork. A 7(a) loan request goes in with SBA Form 1919, the borrower information form. Your lender may also ask for SBA Form 413, a personal financial statement.