Solar Financing Options

There are many financing options available when making the switch to solar. Whether you would like to own or rent your solar system Valley Energy will work with you to get you the best deal available, let us help you find out which option is best for you.

FINANCE OPTION COMPARISON FACT SHEET – RESIDENTIAL

HERO

CA First

Y Grene

Admiral’s Bank

Green Sky

Dividend

Solar

Spruce

Financial

URL

Customer Owns System

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Tax Benefits*

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Down Payment

$0

$0

$0

$0 and up

$0 and up

$0 and up

$0 and up

Financing Terms

6.75 – 8.35%

6.75 – 8.39%

6.49 – 8.49%

7.95% and up (based upon credit and 20 yrs)

2.9% and up

3.99 – 6.99%

4.99 – 6.99%

Closing Costs/Dealer Fees

7% Loan Fee

7%  Loan Fee

3% orig fee

5% Loan fee

Vary by product

10% dealer

D 5.5%

Credit Requirements

No (Based upon Equity in Home)

No (Based upon Equity in Home)

No (Based upon Equity in Home)

640 minimum score (700 for 30% TIC advance)

Varies

660

650

Min/Max Financing Amount

Min:  $5000

Max: 15% of prop value (up to $250K)

Min:  $5000

Max:  15% of prop value (up to $250K)

Min:  $5000

Max:  15% of prop value (up to $250K)

Min:  $2,000

Max:  $47,000

Min:  $2500

Max:  $55,000

Min:  $10000

Max:  $65,000

Min:  $8500

Max:  $60,000

Length of Agreement

5 – 20 years

5 – 25 years (20 w/o monitoring)

5 – 30 years

5-7-10-15-20 years

2 – 12 years 

12 – 20 years

12 – 20 years

Prepayment/Reamortization

2 times/yr

No PP penalty

2 times/yr

No PP penalty

No (Solar Combo for 30% ITC)

Once within 24 mo

No prepayment penalty

Once at 16 months

Once at 18 months

Depreciation

0 – 5 years

0 – 5 years

0 – 5 years

0 – 5 years

0 – 5 years

0 – 5 years

0 – 5 years

Additional Benefits

Payment interest is tax deductible too

Payment interest is tax deductible too

Solar combo allows prepayment of 30% ITC – longest terms avail

Can take 30% tax credit upfront in interest free loan (min 700 credit score)

Receive credit card to make final payment

First 16 months payments based on loan amount after ITC – if ITC not paid, loan reamortized and payment increases for balance of loan term)

First 18 months payments based on loan amount after ITC – if ITC not paid, loan reamortized and payment increases for balance of loan term)

TAX SAVINGS Actual tax savings will depend on the marginal rate of your federal and state income taxes, annual income and other factors. Consult with your tax advisor to determine if, and to what extent, you may deduct amounts paid under the Assessment Contract.

ENERGY SAVINGS Your actual energy savings may vary for a variety of reasons, including the possibility that future electricity costs may not rise as predicted and your energy usage patterns may vary over time. Thoroughly review the assumptions and facts that are the basis for your cost savings with your Contractor, including those about your past and future electricity usage and your current and future utility rates, programs or plans.

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