AVAILABLE FINANCING

Effective 09-15-14

Partial list of Solarponics Payment / Finance Options 


Let your PROPERTY TAXES PAY for your solar energy with 

 

 

1. CaliforniaFIRST is a government PACE program. PACE stands for Property Assessed Clean Energy. 

Administered through California First in San Luis Obispo County

WHAT IS IT?  Energy saving financing. California First is part of the statewide PACE program (Property Assessed Clean Energy), which allows solar energy costs to be repaid through the homeowners property taxes. This is the highly successful financing option that we have been waiting for. It makes solar energy available for everyone.

WHO IS ELIGIBLE?  Every homeowner in SLO County who is current on their property taxes and mortgage payments. CaliforniaFIRST is the administrator of the PACE program for SLO County.

INTEREST RATE: Varies

TERM: 12 to 20 year repayment options

BENEFITS: Eligible for the 30% federal Tax Credit • No credit checks • 100% Financing •  No Banks  • No Added Debt •  Tax Deductible  •  Fast & Simpel Approval  •  Easily Transferrable If Property Is Sold

GOOD FOR A HOMEOWNER WHO: • doesn't have cash on hand or doesn't want to spend his/her cash on hand • doesn't what to finance through a bank and take on more debt • wants greater savings than a lease offers • MAY sell their home in the next 20 years • wants the added benefit of deducting the interest on the CaliforniaFIRST Financing (consult your tax advisor).

Click to request a FREE CONSULTATION  Or call (805) 466-5595

NOTE: Homeowners who receive program approval by 12-31-14, receive $500 program cash rebate for systems up to $25k in value, and $1000 program cash rebate for systems above $25k.






 

To learn more, click here.


2. EmPower

WHAT IS IT? A partnership with Coast Hills Federal Credit Union and Ventura County Credit Union to offer unsecured loans with low rates and flexible terms of loan repayment up to 15 years in order to achieve manageable monthly costs on  energy efficiency upgrades.

The program is funded in part by the American Recovery and Reinvestment Act via the U.S. Department of Energy’s BetterBuildings program and the California Energy Commission. emPower is also funded by California utility ratepayers and administered by Southern California Gas Company, Southern California Edison Company and Pacific Gas & Electric under the auspices of the California Public Utilities Commission.

WHO IS ELIGIBLE?  Every homeowner in SLO County who is current on their property taxes and mortgage payments. EmPower is funded in part by the American Recovery and Reinvestment Act, US Dept of Energy, SO Cal Gas, PG&E, So Cal Edison and the Public Utilities Commission.

INTEREST RATE: 5.99% or higher

TERM: Up to 15 years

BENEFITS: • Making your home more comfortable, efficient and safe just got easier. emPower provide a variety of services that includes rebates up to $6,500, low interest financing, free expert energy advice, personalized customer support • Be More Comfortable • Save Energy and Lower Bills • Improve Air Quality • Update outdated Equipment • Solar energy system is eligible for the 30% Federal Tax Credit

GOOD FOR A HOMEWOWNER WHO: • has a grossly energy inefficient home that needs multiple energy saving upgrades. Multiple upgrades can be financed together, saving more money.

**emPower financing is restricted to eligible projects. Solar electric systems are only eligible if completed with other eligible energy efficiency packages. See Eligible Projects page for more details.

To learn more, click here.


 3. GREEN LOANS 

WHAT IS IT? Green Loans are renewable energy and efficiency loan administered by community bank or credit union. Traditionally called unsecured loans.

WHO IS ELIGIBLE?  Every homeowner with a 650+ credit score, 10% equity in home

INTEREST RATE: as low as 2.99%

TERM: 12 to 20 year repayment options

BENEFITS: • Eligible for the 30% federal Tax Credit •  Interest may be tax deductible • Available with ANY panel manufacturer and equipment • Greatest flexibility of terms and equipment option(s)

GOOD FOR A HOMEOWNER WHO:  • can take advantage of the 30% federal tax credit • does not want to take out a second mortgage, but wants a lower interest rate than an unsecured loan offers. A green loan must be used for qualified energy efficient upgrades only, which includes solar electric 

NOTE:

• The 12-year, 2.99% option offers the LOWEST INTEREST RATE.

• The 20-year, 5.99% option offers the lLOWEST MONTHLY PAYMENTS.

Click to request a FREE CONSULTATION  Or call (805) 466-5595


4. HELOC (Home Equity Line of Credit)

WHAT IS IT? Also referred to as a second mortgage, you borrow against built-up equity in your home. Traditionally considered a secured line of credit.

WHO IS ELIGIBLE?  Every homeowner with a 680+ credit score • Current on first mortgage and 70% LTV (loan to value)

INTEREST RATE: as low as 3.99%

TERM: 10-years, renewable, or 30-year fixed

BENEFITS: *  Eligible for the 30% federal Tax Credit • Historically low interest rates • You are investing in your home • No pre-payment penalty • Long-term repayment options for low monthly payments •  Interest may be tax-deductible (consult your tax advisor) •  Allows for interest only payments, keeping more money in pocket

GOOD FOR A HOMEOWNER WHO: • can take advantage of the 30% federal tax credit • doesn't want to add any reported debt • has equity in their home • wants to take advantage of the historically low interest rates • wants the flexibility of interest only payment or prepayment without penalty 

NOTE:

• The 10-year, 3.99% HELOC offers the LOWEST OUT-OF-POCKET financing, but the rate is variable.

• 30-year, 5.99% HELOC offers the lowest monthly payment, but you pay more in interest over the life of the loan. 

Click to request a FREE CONSULTATION  Or call (805) 466-5595


5. LEASE or PPA (Power Purchase Agreement)

If you have NO tax liability, do NOT plan on selling your home in the next 20 year, and have NO other means of paying for a solar energy system, a lease MAY be a viable option. Leases come with a 20 year repayment term, with equipment warranties and possible production warranties. DOES NOT quality for the 30% federal tax credit.

LEASE/PPA/RENT VS. PURCHASE or PACE Program (BUY or FINANCE)

San Luis Obispo County - Santa Barbara County - Monterey County

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Click to request a FREE CONSULTATION  Or call (805) 466-5595

 


6. Commercial Payment Options

• CaliforniaPACE for Commercial Financing 

The Property Assessed Clean Energy program (PACE), and commonly referred to as Bill AB 811.

    • 100% up front financing for qualified upgrades.

    • PACE assessment stays with the property if it is sold.

    • PACE assessments quality as an operating expense

    • The property does not incur any additional debt

    • Allows projects to be cash flow positive 

    • Security of tax lien: investment-grade credit ratings not needed

    • Preserves capital and credit line for core business investments. 

Click to request a FREE CONSULTATION  Or call (805) 466-5595


7. Introducing CSI Thermal Rebate (for commercial projects)

The California Solar Initiative Thermal Program for Commercial Swimming Pool Heating

    • Rebates cover 50% of system costs, or more

    • Includes multi-family residential, commercial, governmental, educational and non-profit

    • Incentives are for gas customers of PG&E.

    • Incentives are for new and existing swimming pools

    • There is no cap on the solar system size

    • Limited funding is available on a first-apply basis. Act now.

Click to request a FREE CONSULTATION  Or call (805) 466-5595


8. (ENDED) SOLARIZE SLO County (ENDED)

WHAT IS IT? Solarize San Luis Obispo County (Solarize SLO) is group purchasing power offering pre-negotiated, lower system costs.  Sponsored and administered by Community Environmental Council, serving as homeowner advocate. 

WHO IS ELIGIBLE?  Every homeowner with a 680+ credit score, 10% equity in home, living in SLO County.

BENEFITS:  • Typically 15% below market costs for same system • Allows for 30% federal tax credit • Installers (Solarponics) are pre qualified and vetted for quality assurance • Trusted advocate negotiating on your behalf

!!!!! ENDED !!!!!

Click to request a FREE CONSULTATION  Or call (805) 466-5595