Finance Your Solar Project at Low Interest Rates and no money down with our new innovative Solar Loan Program…
SunWatt understands it can be difficult to fund the cost of your solar installation with cash. We have several flexible financing options to choose from intended to make your install cash positive from day one…
We are proud to offer Ensemble; a brand-new way for Rhode Island Homeowners to finance solar and still maximize the benefits!
What is it? Ensemble is an innovative solar loan program aimed at making it easier for homeowners to adopt solar without having to put down a significant amount of cash or drive up the total price with high interest rates.
- Designed by industry partners to encourage solar adoption by allowing more homeowners to install systems that are cash positive from day one.
- There is no out of pocket cost and no early repayment penalties.
How does it work? Homeowners with feasible rooftops for solar who are approved for an Ensemble loan will be offered a 12-year combo loan at 2.99% interest*. The monthly loan payment is designed to be significantly less than the value of solar production enabling the homeowner to save money from day one upon interconnection.
- The loan is a 70/30 combo loan* allowing for easy use of the 30% federal income tax credit in year one.
- Upon approval funds are dispersed for the installer and the customer will manage payments thru a secure online portal.
Is it Worth it? The value of the solar production from an install is guaranteed by National Grid for 15 years under the Renewable Energy Growth Program (REG). Not only will the savings and incentives usually be higher than the loan payment, but once the 12-year loan is paid off the owner has 3 years of full incentive payments left.
- The 2.99% interest rate* is lower than most home equity loans and the solar install will add additional value to your home.
- SunWatt Solar Arrays are guaranteed under warranty to produce for 25 years which means you will be producing 13 years of value after the loan is paid.
- SunWatt will only install projects that make financial sense for our customers.
* Loans provided by EnerBank USA, Member FDIC, (1245 Brickyard Rd., Suite 600, Salt Lake City, UT 84106) on approved credit, for a limited time. Same-As-Cash Loan – repayment terms vary from 24 to 132 months. Interest waived if repaid in 365 days. 16.94% fixed APR, effective May 2017, subject to change. Interest starts accruing when the loan closes. Reduced Interest Loan – repayment term is 144 months. 2.99% fixed APR, effective as of May 2017. Minimum loan amounts apply. The first monthly payment will be due 30 days after the loan closes
SunWatt offers the 2.99% 12-year combo loan* as our basic loan program. We also offer additional term lengths and rates depending on your financial needs. Please contact a SunWatt representative at 844-786-9288 or email firstname.lastname@example.org for more information.