Adara Power Storage systems & Schneider Electric products may be purchased directly from our network of certified installers. For more information on your nearest installer please email us at email@example.com.
Property Assessed Clean Energy (PACE) is an innovative way to finance energy efficiency and renewable energy upgrades to buildings. Interested property owners evaluate measures that achieve energy savings and receive 100% financing, repaid as a property tax assessment for up to 20 years. The assessment mechanism has been used nationwide for decades to access low-cost long-term capital to finance improvements to private property that meet a public purpose. By eliminating upfront costs, providing low-cost long-term financing and making it easy for building owners to transfer repayment obligations to a new owner upon sale, PACE overcomes challenges that have hindered adoption of energy efficiency and related projects in our nation’s buildings.
- Website: http://www.pacenow.org/about-pace/
- Website: https://www.heroprogram.com/
Solar Loan Programs
Home Equity Loan
There are two main types of home equity loans. The first is the standard home equity loan, where you borrow a single lump sum. The second is a home equity line of credit, or HELOC, where the lender authorizes you to borrow smaller sums as needed, up to a certain fixed amount. Generally, a home equity loan will be available with a fixed rate option, and a HELOC will have a variable rate structure. Both may require closing costs, but interest on secured solar loans may be tax deductible, which means that you also may be able to save additional money on your income taxes. Check with your tax advisor to see if you will be able to take this deduction.
Your local bank or credit union may have a program for homeowners that do not yet have equity in their home or would like the option of owning their system instead of paying high priced leasing or PPA arrangements. Check with your local lender on these options, and have them give us a call if we can help to inform about the value and purpose of your Adara Power residential ESS.
USDA Energy Efficiency and Conservation Loan Program
The Energy Efficiency and Conservation Loan Program (EECLP) provides loans to finance energy efficiency and conservation projects for commercial, industrial, and residential consumers. With the EECLP, eligible utilities, including existing Rural Utilities Service borrowers can borrow money tied to Treasury rates of interest and re-lend the money to develop new and diverse energy service products within their service territories. For instance, borrowers could set up on-bill financing programs whereby customers in their service territories implement energy efficiency measures behind the meter and repay the loan to the distribution utility through their electric bills.