We have extensive experience in the solar industry and have explored various financing options for our customers over the years. We recommend Puget Sound Cooperative Credit Union (PSCCU) as our preferred financing partner for solar panel installations. We do not receive any incentives for endorsing PSCCU; we simply believe they offer exceptional value to our customers.
Why Oregon Homeowners Choose PSCCU for Their Solar Loans
When it comes to financing solar projects, many Oregon homeowners turn to PSCCU for a number of compelling reasons. Here's why:
Competitive Rates and No Dealer Fees
PSCCU offers competitive rates for solar loans and does not charge dealer fees. This translates to no inflated prices from contractors, allowing you to get the best possible value for your solar investment. Other "solar loan programs" have dealer fees of 30% or more that are added to customers' project costs to buy down their interest rate in order to offer them 25-year loans at 2.99% or 3.99%.
Personalized Service
Unlike larger financial institutions, PSCCU prides itself on its personalized service. Their dedicated staff ensures that your loan officer will assist you through every step of the process, from application approval to funding and beyond.
Expanding Your Energy Efficiency with PSCCU
In addition to solar loans, PSCCU offers financing options for other energy-related projects:
Battery Storage: Whether you’re looking for standalone battery storage or a system combined with solar, they have specialized loan programs for these needs.
EV Chargers: Financing for EV chargers is available as part of larger energy-efficient projects.
High-Efficiency Equipment: Loans can also cover high-efficiency equipment such as heat pumps, high-efficiency furnaces, and energy-efficient windows.
Loan Details and Fine Print
Interest Rates and Terms: Solar loan rates, depending on credit scores and other factors can be as low as 7.5%, with terms spanning from 120 to 180 months. There are no prepayment penalties, providing flexibility if you choose to pay off your loan early.
Loan Amounts: The maximum loan amount available is $80,000.
Loan Security: Loans are secured by a UCC1 lien on the solar equipment. PSCCU also considers the combined loan-to-value (CLTV) of your home, which takes into account your property’s value compared to what you owe plus any HELOCs.
PSCCU’s Commitment to Green Financing
Since 2009, PSCCU has been a pioneer in green lending, responding to requests from local utilities and playing a key role in numerous energy efficiency programs. If you’re considering installing solar panels or other energy-efficient upgrades and are exploring different financing options, PSCCU provides not just competitive financing, but a partnership in your commitment to a greener future.
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