For the property owner to gain the full advantages of rooftop PV or solar hot water energy collection, a capital investment is needed. A number of options for capital finance are available. The investment payback period for the cash-poor owner is longer than for those with ready cash.
Refinancing a mortgage can provide access to home improvement capital. Or a separate home equity loan may also be considered.
Certain states offer PACE loans — Property Assessed Clean Energy financing, based on locally defined development districts.PACE Overview. Due to the PACE relationship with Fannie Mae, Freddie Mac, and their regulator, the Federal Housing Finance Agency (FHFA), the PACE concept was restructured after a federal legislator review (mid-year 2011). Terms for the current program are found here. PACE Now
Bank loans are being made available to qualifying residential and commercial projects that indicate early investment payback. Several lenders in the Northwest offer solar loans.
The “Green Street Lending” program is available from Umpqua Bank, offering solar financing to homeowners and businesses. Umpqua Bank
The Puget Sound Cooperative Credit Union has a “Energy Efficiency/Generator” program that offers loans to homeowners. Puget Sound Cooperative Credit Union
The Snohomish County Public Utility District offers funding for photovoltaic installations at 2.9% interest. Snohomish County Public Utility District
Commercial lenders also offer financing. An example is found here. Commercial Solar Loan
Washington State loans and incentives are available from State Solar Incentives. WA Solar Incentives
Likewise Oregon. Oregon Solar Incentives
Solar equipment leases are available. Under the terms of the solar lease, the property owner forgoes all subsidies, tax credits and tax forgiveness in favor of lower monthly energy bills. An example is found here. Lease Offer
Cheap Solar Loans — Perspectives
States rated by solar financial incentive programs. Incentive Map