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Solar Financing Options with Clean Energy Credit Union

StraightUp Solar brings a seamless relationship with Clean Energy Credit Union (Clean Energy CU) with special financing to help homeowners purchase their solar PV system. Clean Energy CU’s climate-friendly banking provides loans for clean energy technologies that reduce the cost of living for members and contribute toward a healthier planet. With these loans, you can finance solar PV systems, electric vehicles, batteries, and geothermal energy. StraightUp Solar works closely with the Clean Energy Credit Union throughout the loan process to help customers finance their solar projects.

Choose Your Solar Loan

Clean Energy Credit Union offers two loan products to finance your solar PV system, a single or combo loan. Both take the Federal Investment Tax Credit (FITC) into account, which is an incentive that reduces the total cost of your solar project by 30% by offsetting your tax liability. Choose which loan option works best for your family.

Solar Financing | Clean Energy Credit Union Solar Loan Payment Options

Single Solar PV Loan

With a single solar PV loan, you can cover 100% of the project cost with no money down. The single loan:

  • Provides the option to apply the federal tax credit to the loan to reduce on-going payments. Or the tax credit can be kept by the homeowner.
  • Re-amortize the loan anytime to lower monthly payments. Re-amorization is free for amounts greater than 15% of the loan amount.
  • Starts 30-60 days after installation commencement with 15 interest-only payments to improve initial affordability of the loan.
  • After the 15th payment, the monthly payments will cover interest plus principal.

Combo Solar PV Loan

Clean Energy CU has developed a combo loan option split into two parts to take advantage of the federal tax credit:

  • The first part is a short-term “balloon” loan to cover the federal tax credit. The idea here is once tax season comes around, you can pay this part of the loan off in full.
  • The second part of the loan will account for the remaining amount of the project that the Federal Investment Tax Credit did not cover. Clean Energy Credit Union offers 12-, 15- and 20-year loans at competitive rates to finance the remaining portion of your solar loan.
  • The second half of the combo loan can be reamortized for free if the reamortized amount exceeds 15% of the loan.

Financing with Purpose

StraightUp Solar and Clean Energy Credit Union share a commitment to build a brighter, more sustainable future. Just as we respect people and planet through our CLEARE Values, Clean Energy Credit Union promotes their mission through clean energy, environmental stewardship and cooperative enterprises through the financial services to their members. Their member-owned model ensures decisions based on the greater good, making them an ideal partner for values-based investors. Together we make going solar simple and pave the way for a better planet.

Ready to Get Started?

StraightUp Solar helps manage every aspect of your solar project, including the loan process with Clean Energy CU. If you haven’t gotten a solar quote yet, get started with StraightUp Solar today!