Mass Solar Loan Financing
There are many financing options for home and business owners who wish to own their solar system, but prefer to take out a loan instead of a cash purchase.
Here in Massachusetts, the best financing option is our state backed Mass Solar Loan developed and pioneered by the Massachusetts Clean Energy Center (MassCEC). In this program, as your system installer, we take care of the entire application, and the only step for you is to take the application to one of the certified lenders and close the loan.
Why is the Mass Solar Loan so great?
Great question! To sum it up quickly, the state buys down the interest rate received by the lender by 1.5 %. With current interest rates hovering around 5.5 – 6%, this means you’re left with a loan interest rate of 4.5% or less!
But wait there’s more!
In addition to the interest rate buydown, the state also gives Income Based Loan Support (IBLS), to households who have an annual income below a certain threshold. If your household does qualify, you will receive either 20 or 30 % of the loan principle (cost of solar system less deposit) paid for by the state.
See below for links to the Mass Solar Loan. Contact us NOW to get your application going!