Comerica Bank, Los Gatos, Calif., has announced a new program for Akeena Solar customers seeking to install the company's photovoltaic systems on their homes.
Comerica Bank will make home equity lines of credit (HELOC) available to meet the needs of Akeena's solar power customers. ‘In most cases, the monthly after-tax HELOC payments will be less than the electric savings from the solar power system – providing positive cash flow for our customers the moment the system is switched on,’ says Barry Cinnamon, chief executive officer of Akeena.
As part of the alliance, information about Comerica's loan programs will be available to Akeena's California customers at Akeena showrooms.
