We offer conventional energy-efficiency & solar financing as well as PACE (Property-Assessed Clean Energy).
Our Financing Partners are:
- Fast and simple solar loans, no home equity required
- Compare personalized options in 60 seconds without affecting your credit score.
- Comparing rates doesn’t affect credit score
- No home equity required
- No prepayment penalties
- Loan options up to $100,000
- Fixed monthly payments
Click the link to learn more: https://www.gethearth.com
Our PACE Partners are:
Energy Efficient Equity: E3 - Residential Projects
Figtree Financing - Commercial Only
PACE (Property Assessed Clean Energy) financing is an assessment on your property and, therefore, has different eligibility requirements than a conventional loan . Approval is independent of FICO score or business credit. The programs offer a low-interest, long-term, tax-deductible financing option that is repaid through property taxes. This type of financing is a great opportunity to finance a solar system based on property valuations instead of credit score.
Solar Lease - What is it?
A "Solar Lease" is when someone else owns the solar energy equipment (usually the leasing company) - and you pay a monthly payment to lease it for the lease term (usually 10-15 or 20 years). Often the lease payment escalates (increases) over time. These lease payments may be wholly or partially balanced by lower electric utility bills. A solar electric (PV) system produces electricity to help lower your electric bills, usually through net metering.
How you save with a Solar Lease: When the lease payment is less than the utility bill savings from the leased solar electric production, then you are saving money. But this situation can change, and over time lease payments can be more than the utility bill savings, costing you more money.
If you are offered a Lease: The single most important factor is the utility inflation rate assumed in the lease model. If it is more than about 4%, do some homework; the lease model may be skewed in the leasing compay's favor. And never accept a Lease with a Payment Escalator that is more than a couple percent -- it should be 0% escalation so your energy costs become "fixed", and do not continue to inflate over time.
What a Solar Lease is Not: A Lease is not an "investment" -- with a lease you do not have ownership of the solar assets. A solar lease is a financial commitment to a long stream of lease payments. For this reason a Lease adds no value to your property (property appreciation), and may actually reduce property value and/or be a hindrance when trying to sell your home.
More valuable information and the full article can be found here: "Solar Purchase vs. Solar Lease"
PPA - What is it?
A "PPA" is a "Power Purchase Agreement" and differs from a lease only in that you pay for the power produced by the solar system as opposed to a monthly lease payment.