Mass Solar Loan Calculator

The massachusetts department of energy resources doer and the massachusetts clean energy center masscec have launched the mass solar loan program for massachusetts residents interested in directly owning their solar electric projects. Participation in the mass solar loan program is an opportunity for lenders to become a part of the growing massachusetts residential solar market. Follow the steps below to get started.

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Below are a list of included services for home owners of single family homes and up to 4 units in a multi family property.

Mass solar loan calculator.

Low interest fixed rate with a low interest fixed rate loan there is no better time to install solar energy panels at your home. Heating and cooling lighting and appliances weatherization building or renovating a home financing and additional special offers. Low income customers who are eligible for the interest rate buy down will now see a maximum customer interest rate of 4 5. All loans subject to credit approval and meeting mass solar loan program guidelines.

Trust review and recording fees ranging from 150 00 375 00. Solar tax credits and programs mass solar loan program. Receive a price quote from a pre qualified mass solar loan installer downloadable list. One time right to re amortize balance during the first 18 months from the date of project completion.

The genesis of this program came out of the department of energy resources explained andrew belden director of solar programs at masscec. While terms may vary participating lenders are required to offer fixed rate 10 year loans between 3 000 and 35 000. The gross loan interest rate market rate under the mass solar loan program is capped at wsj prime 2 75 making the cap 6 0 as of march 16 2020. Financing available for primary residences located in massachusetts only.

Use the mass solar loan consumer dashboard to learn about solar costs and loan interest rates under the mass solar loan program. Learn about how solar energy works and available incentive programs in massachusetts many people have the misconception that solar pv systems do not work in massachusetts due to new england s diverse weather conditions. However the experts agree that massachusetts is an excellent location for. Mass save is the commonwealth s nation leading energy efficiency program provider.

Solar electricity can provide you with lower cost electricity. Income qualified residents may be eligible to have the mass solar program pay a portion of their loan principal once the project is complete. Additional benefits of solar power in massachusetts. The mass solar loan program was developed to further encourage the adoption of solar panels in ma and support the commonwealth s solar industry in a way that maximizes the benefit to the local economy.

Learn about solar electricity. This new innovative state level incentive allows residential homeowners to own a solar pv system by making fixed low interest loan payments.