Residential Financing

Own Your Solar System With Smart Financing Today!

Several different financing options are available for your solar electric system purchase.  As your utility continues to raise rates, your solar saves you money – typically thousands over the life of the system, not to mention the added home value.

Of course, you can always purchase the system outright.  Essentially, with a cash purchase, you pay $1,000 down, 50% when the system is installed and the balance at the time of system commissioning by your utility.  Your average return on investment is around 7-12 years depending on your system size and local utility rates.

If financing, rather than purchasing a system makes more sense for you, we have built partnerships with a number of lenders — locally and nationally – to make your dream of installing a system a reality.

  • Traditional Home Equity Line of Credit (HELOC)
    •  Also known as a second mortgage
    • 20 to 25% equity in your home to qualify
    • Very competitive interest rates
    • Deduct the interest from your income taxes*
  • Dividend Solar Financing
    • Unsecured loan that is based on the productivity of your system
    • You receive the tax benefits, must pay down 30% Tax Credit by month 18
    • Additional performance guarantees and monitoring
    • Instant credit decision, no prepayment penalty
    • No lien on your home, approval up to $50,000
  • Admirals Bank
    • No home equity or appraisal required and no prepayment penalty
    • Similar to a HELOC, requires that there is no 2nd mortgage already on the property
    • Approval up to $55,000 for a single family home
    • Deduct the interest from your income taxes*
  • Property Assessed Clean Energy (PACE) Financing
    • HERO Program by Renovate America**
      • Available to homeowners in select areas of Missouri (call us to learn more)
      • No money down, 100% financing
      • Not based on credit score, fast approvals
      • Interest may be tax deductible*
      • Flexible 5-25 year terms, depending on area and product
      • Competitive, fixed interest rates
      • Paid with property taxes
  • St. Louis Green HELP Program
    • Maximum loan value up to $15,000 per applicant
    • Up to 10 year loan term; Interest Rate: 2.11%
    • Must be city-resident,  single-family home, & must occupy the property for life of the loan
    • Must be current on real estate and personal property tax
    • No minimum income, based on credit check

*Please contact your tax advisor to determine if you may be eligible for tax benefits

**The HERO Program is not responsible for the performance of your energy and water efficiency upgrades or the savings you may achieve. Performance and cost of your product are the sole responsibility of StraightUp Solar. Renovate America does not endorse and is not responsible for the information provided by StraightUp Solar. StraightUp Solar is not a Renovate America company. Any potential savings depend on the products you choose, the location and size of your home, your usage and other factors. HERO is a registered trademark of Renovate America.

 

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