California, United States [RenewableEnergyWorld.com] The Electric & Gas Industries Association (EGIA) and Clean Power Finance Inc. (CPF) announced their partnership to add business and residential energy efficiency and solar secured project financing to EGIA’s GEOSmart Sustainable Financing Solutions.
The program, which was originally launched in conjunction with GE Money in July of 2007, is designed to provide both installment and revolving financing options and is available through EGIA-approved contractors.
EGIA said that is has facilitated the financing of more than US $400 million in home energy efficiency and solar upgrades over the past 5 years. The company plant to continue to provide its GEOSmart unsecured financing program for residential projects from US $1,000-50,000. Through the partnership with CPF, the GEOSmart financing program now allows contractors to provide both residential and commercial customers with 100% financing for their energy efficient and renewable energy projects, with the programs that best fit their financing needs.
The GEOSmart Commercial leasing program is available for small businesses, retail, commercial and industrial facilities, to finance projects ranging from US $10,000-2 million or more, with leasing terms up to 7 years. Municipal tax exempt leasing is also available for government and public agencies including schools, cities, hospitals and special assessment districts.
“One of EGIA’s key objectives is to make investing in energy efficiency and solar projects easy and affordable for businesses and homeowners alike,” said Bruce Matulich, executive director of EGIA. “The addition of commercial financing complements our GEOSmart program and enables us to deliver what we believe to be the industry’s most comprehensive financing solution, all marketed under one nationally recognized green brand.”