REAP Grants & Loans
USDA grants up to 25% of total project cost awarded competitively and USDA loan guarantees up to 75% of project cost. Click here to learn more and determine initial eligibility.
Power Purchase Agreement (PPA)
Third party investors have a strong interest in solar. With the available federal tax incentives and SRECs, a third party investment partner will pay to install and own the solar system on your property. Through a “power purchase agreement” you buy only the kilowatt hours the system produces.
Clean Energy Credit Union
StraightUp Solar has a seamless relationship with Clean Energy Credit Union to provide special financing to help people install solar electric systems on their homes. These loans include solar, electric vehicles, batteries, and geothermal energy.
The solar loan through Clean Energy Credit Union was specifically designed to finance residential or small solar projects. It is split into two parts:
- The first part is a short-term balloon loan to cover the Federal Investment Tax Credit (FITC). This tax credit is issued for installation of a solar PV system and offsets your tax liability. The expectation is that once you have reached tax season you can pay this part of the loan off in full.
- The second part of the loan will account for the remaining percentage 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.
We want to make it as easy as possible for our customers to go solar. This financing product is what we offer most often with our solar installations.
PACE Financing
Property Assessed Clean Energy (PACE) is a financing mechanism that was approved for use in Missouri by the legislature a few years ago. The way this financing works is that the home or the property itself takes out the loan for the solar array as opposed to the individual. The individual pays the loan back through monthly payments via an escrow account (if the home is still under mortgage), and then the escrow account covers an additional line item that is added to property taxes, which is the solar loan. It is important to note that this does not increase your property taxes themselves, it increases the bill that is sent to you until the solar is paid off. The local government then pays the financing institution that offered the loan in the first place as opposed to paying the finance institution directly. The benefit of this financing is that the loan stays with the home. When the resident that installed solar moves out the new resident that moves in continues to pay for the solar array.
State Sponsored Loans
MO Linked Deposit Alternative Energy Loans
Through this State Treasurer’s program, participating banks and credit unions offer 2-3% interest loans to both individuals and businesses. This program has been infrequently used for solar electric projects due to certain limitations. However, the program is well-funded and worth looking into.
Clean Energy Credit Union
StraightUp Solar has a seamless relationship with Clean Energy Credit Union to provide special financing to help people install solar electric systems on their homes. These loans include solar, electric vehicles, batteries, and geothermal energy.
The solar loan through Clean Energy Credit Union was specifically designed to finance residential or small solar projects. It is split into two parts:
- The first part is a short-term balloon loan to cover the Federal Investment Tax Credit (FITC). This tax credit is issued for installation of a solar PV system and offsets your tax liability. The expectation is that once you have reached tax season you can pay this part of the loan off in full.
- The second part of the loan will account for the remaining percentage 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.
We want to make it as easy as possible for our customers to go solar. This financing product is what we offer most often with our solar installations.
