If you’ve ever thought about installing solar panels on your roof, now might be the perfect time. St. Pete’s Climate First Bank has recently launched a solar lending financing program with no dealer fees. This offer is only for the first 100 loans made via the bank’s online platform.
What is Solar Lending Financing?
The first step is receiving solar lending financing is to complete a simple online application process and wait for approval. Climate First Bank claims that most applicants can get approved for up to 100% financing with no money down in less than 48 business hours. Once approved, you’ll be able to swap your electricity bill for a green loan payment. Not only are there no dealer fee, you will also receive solar incentives, like federal and state tax credits, solar rebates, and sales and property tax exemptions that will go directly to you.
Customers can fully prepay their loan with no prepayment penalty or fee and keep their 26% tax credit. Any payments made besides the contractual monthly payment will be applied toward a reduction in the principal balance of the loan.
There is a national nonprofit, Solar United Neighbors, that can help people who have more questions about going solar. Their next online meeting will review and explain net metering in Florida.
Benefits of solar energy
Many people decided to install solar panels to reduce the pollution and protect the environment. Panels also save money in the long run and allow people to produce their own power, increasing energy independence.
People also see an increase in their home value when they install solar panels. A typical solar system can add $15,000 or more to home resale value, depending on size and age of the system.
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