San Diego-based Solare Energy Inc. has partnered with EnerBank USA to offer solar-specific combo loans to homeowners in San Diego, Riverside and Orange counties who are looking to finance a residential solar system.
The EnerBank USA combo loan is broken into two parts. According to the companies, the first acts as 12-months same-as-cash with a 0% interest rate to be paid back with the 30% federal tax credit homeowners receive for going solar. The second is a 12-year loan with a fixed 2.99% interest rate.
"Solare Energy is a great partner, and we are happy to be offering the same-as-cash solar project loan," says Cade Bryant, senior relationship manager of EnerBank USA." The combo loan is allowing homeowners to take advantage of incentives and rebates before having to make any payments. This is a big step that will help increase the number of homes going solar."