TRADE YOUR ELECTRIC BILL FOR A LOAN PAYMENT
With today’s financing, you could trade your electric bill for a low-cost loan to finance your home solar system; with no money down and free electricity once it’s paid off.
By first reducing the upfront cost of your system with rebates and tax incentives and taking advantage of a low-cost loan to pay the balance. Your Sol Energy project manager will make sure you take advantage of any rebates and incentives you are eligible for and help you explore your financing options to cover the remaining cost.
Incentives and Rebates
You may be eligible for tax incentives, rebates, and incentives to reduce the cost of your solar system.
- Federal Income Tax Credit (30%)
- State of Colorado Sales Tax Waivers (2.9%)
- Rebates and incentives from your electric provider and community resource office.
RENU Low-Cost Financing
RENU is a statewide residential loan program sponsored by the Colorado Energy Office in partnership with Elevations Credit Union. It makes getting a residential solar system (and other home energy upgrades) easy and affordable by offering low-cost, long-term financing for energy efficiency and renewable energy improvements.
Practically free energy! Between the low rates and reasonable payback periods, your payments are likely to be equal to or lower then your current electric bill. Moreover your loan payments won’t change as electric rates fluctuate, will end, and can be transferred to new owners if you sell the house.
- Fixed, low-interest loans are available from $500 to $35,000 and 15-year terms
- Interest rates start at 2.75% for FICO scores of 740+ and a 36-month term
- Finance up to 100% of the project cost
- 36-, 60-, 84-, 120- or 180-month terms
- There are no pre-payment penalties
- Borrowers approved with credit scores as low as 580
- Loan fees range from $44 to $84
- You must work with an authorized RENU Contractor- Like SoL Energy.