California & Oregon, United States [RenewableEnergyWorld.com] SunWize Residential Power Systems has made a new financing program available to its customers in California and Oregon. The program offers an unsecured, same-as-cash loan of up to US $45,000 for solar installations with credit approval. The loan requires no principal payments or interest for up to 12 months and the company said the program provides homeowners enough time to take advantage of the 30-percent federal tax credit for residential solar energy systems and apply it toward the loan.
SunWize customers who participate in the residential solar financing program have up to 12 months without payments or interest to receive the tax credit and apply it to the loan. At the end of the year, homeowners can either pay off the loan in full or convert it to a fixed interest installment loan. The financing program is administered by Lyon Financial Services and funded by EnerBank USA.
“In addition to offering one of the highest limit solar loans in the market, the program gives homeowners a year without payments and interest to realize the savings of their system and receive their tax credit. Unlike many other programs, funds are readily available with applications taken over the phone and credit decisions typically made in minutes. SunWize listened closely to the needs of homeowners and developed this program so more homeowners can take full advantage of the federal solar incentives,” said David Kaltsas, executive vice president at SunWize.