Home / Financing
Financing
Most of our customers finance. We work with two lenders so there is more than one way to structure a project — one a straightforward energy loan, one a property-assessed option that does not hinge on your credit score.
Option one
A residential solar and energy-efficiency lender, and a subsidiary of Forbright Bank. Straightforward installment loan: you borrow, you own the system, you pay it back monthly.
Option two
Formerly PACE Funding Group. Offers both conventional Home Run Loans and PACE financing, which is repaid through your property tax bill rather than as a separate loan.
Before you sign anything
PACE is worth understanding properly, because it does not work like a normal loan and the difference matters.
Instead of a monthly loan payment, the cost is added to your property tax bill as an assessment against the home. That is why approval does not lean on your credit score — it leans on your equity and your ability to pay.
The trade-off is that the obligation attaches to the property. It can complicate a sale or a refinance, because some mortgage lenders will require the assessment be paid off first. If you are planning to sell or refinance in the next few years, ask about that specifically before you choose PACE.
We are contractors, not lenders or financial advisors. Read the lender's disclosures, and take the time you need. Anyone pressuring you to sign financing paperwork the same day is doing you a disservice.