Loans for solar!
Yes, these are the details on state loan programs available for those of you who do not have piles of disposable income lying around. While private financing is readily available in juicy solar states, many times the state loan options available cannot be beat. If you find yourself short on cash, but have good credit and own your home, a solid state loan program for solar energy can unlock the door to your solar investment.
I don’t understand your acronyms or the terms of the loans. Where can I find the links I need to apply for some of these loans?!
The specific details of each state’s loan program are located on your state’s solar page. Click your state on the right sidebar of this page for more info. Or, if you’d prefer request some more information from our solar experts. They’ll help you out in a jiffy.
What does “PACE” mean?
PACE stands for “Property Assessed Clean Energy”. Basically, the state allows your city to finance your solar energy installation with an assessment on your property taxes. Watch this video Dave narrated to learn why it is awesome and very important:
So PACE seems great, why are some states that passed legislation for PACE to work still getting failing grades?
While many state legislatures have indeed paved the way for cities in their state to finance energy improvements through property tax assessments, very few cities are equipped with the tools, support, or know-how to do anything about it. For specific cities, PACE is slowly getting off the ground. We’ve noted those areas above by stating, “PACE programs”.
The big elephants in the room are Fannie Mae and Freddie Mac, who scoff at the idea of a solar installers or any other contractors being paid off immediately through property taxes instead of them. That complicates things!
If you like this then you may also like these:
- SPR Report Card 2010 – Part 6 – State Rebate Details
- SPR Report Card 2010 – Part 7 – State Tax Credit Overview
- SPR Report Card 2010 – Part 3 – Renewable Portfolio Standards by State
- SPR Report Card 2010 – Part 10 – Solar Sales Tax Exemptions
- SPR Report Card 2010 – Part 2 – State by State Summary Grades