Are you a homeowner who likes the idea of solar energy but is nervous about what it might take to get the job done? Many solar installations require a few extras beyond the standard equipment leaving homeowners scratching their heads and wondering how they’ll pay for everything. Luckily, Clean Energy Credit Union customers can breathe easier when they choose a $0-down Solar PV Loan, which covers a range of extra — and unexpected — expenses.
Common Costs and Upgrades
Our registered solar dealers do a complete assessment of each property so they can design the perfect system. They look at the roof’s age, condition, type of material, angle, vent locations, and shade from trees and other structures. They also look at how much energy the home will need after installation for add-ons like an EV charger, heat pump, or appliances that would increase electricity usage. And wise homeowners who add money-saving solar batteries and “smart” electrical panels would reduce daily electricity use.
During an assessment, the dealer may discover that the roof needs to be repaired or replaced. Shingled roofs and solar systems have 20- to 30-year lifespans, making it ill-advised to install panels on older roofs. Tall trees, evaporative coolers, and even other structures can cast shadows on rooftops, affecting the system’s ability to absorb light.
Our Solar PV Loan can include money for correcting such issues and purchasing equipment that maximizes the system’s energy efficiency.
How Our Solar Loans Work
With a Solar PV Loan, Clean Energy Credit Union lets you allocate 55% of the loan to the cost of the solar panels, inverter, wiring, and labor and the other 45% can pay for items that either generate or conserve energy or are necessary for the system to operate. These may include a new Energy Star-rated roof, smart electrical panel, EV charger, or a solar battery.
Within the 45% allocation, homeowners may also use up to $4,000 to pay for a traditional electrical panel upgrade, tree trimming, roof-vent rerouting, and minor roof repairs. Borrowers must work with one of Clean Energy Credit Union’s registered dealers, who will estimate the necessary materials and labor. See further details here.
Need Even More Green?
Homeowners who want to go “next-level” green may consider an electric vehicle or home improvement loan. A home improvement loan would finance HVAC equipment, including heat pumps, water heater pumps, tankless water heaters, and Energy Star-rated appliances and upgrades.
In addition to our financing options, homeowners can take advantage of local programs that lower the cost of clean energy. Many states and electricity providers offer credits, rebates, and discounts for residents and customers for solar, EV charging ports, home-energy audits, Energy Star-rated appliances, and more. The Dsire database has an up-to-date list of clean-energy incentives in every state.
If you’re ready to save money on electricity for decades to come, check out our solar-energy financing options today. Once pre-approved for your loan, you’ll be on the road to energy independence — and a cleaner, greener home.
Our mission is to make clean energy accessible to more people. Whether you’re building your dream home or investing in your existing home, a Clean Energy Credit Union customized loan can finance the energy-efficient upgrades you need to save money and live your values.