Solar loans are the fastest-growing method of financing a solar panel installation for your home or business. Across the country, more than half of all new solar installations are done with either a cash purchase or through a solar loan.
The HERO Loan Program by Renovate America is one of the most popular energy loan options in California. HERO loans offer reasonable interest rates that make it possible to fund energy upgrades like new windows and updated HVAC systems. Homeowners and businesses in hundreds of communities across the state have used HERO loans to make clean energy upgrades to their properties. One of the most popular uses for HERO loans is to reduce energy bills by installing solar panels.
California is the country’s biggest solar energy powerhouse. According to the Solar Energy Industries Association (SEIA), the Golden State has installed 18,296 megawatts (MW) of solar – enough to power 4,732,000 homes! It’s no mistake that California has so much solar. Rebates and other financial incentives make solar a smart financial move for residents and businesses across the state.
If you want to install a solar energy system on your property, one of the first questions you’ve probably asked is, “How will I pay for it?” There are many financing options available today for homeowners who want to enjoy the benefits of solar. In many areas, an increasingly popular option for home energy improvements like solar is property assessed clean energy (PACE) financing.