Boston-based fintech company BlueWave has brought its solar loan product to North Carolina and South Carolina. The company says this will enable local homeowners looking to finance their solar systems to sign up for a BlueWave Home Solar Loan.
The product – launched with Avidia Bank across Massachusetts earlier this year – offers home solar customers a 12-month, interest-only period at a 5.99% fixed rate for 10 years, according to the company.
Moreover, on BlueWave’s Solar Management Platform, the entire loan application and contract execution process is digital, and, thus, applicants are approved in minutes, BlueWave asserts.
“The federal and S.C. state tax credits, combined with the utility-specific incentives, are making the case to go solar in South Carolina a very compelling one. BlueWave has been active on many levels in helping to drive solar adoption in the state, and our solar-specific financing platform is another example of this,” says John Griswold, Charleston, S.C.-based managing director.
“Avidia Bank is pleased to provide the Carolina markets with an attractive financing product that helps individuals, families and businesses lower energy costs and improve their access to alternative energy sources in the form of solar power,” adds Mark O’Connell, Avidia Bank’s president and CEO.