Financing Information
Financing renewable energy systems can sometimes be challenging because local lending institutions are frequently not familiar with the economics of renewable energy systems and do not consider it time-tested. There are other options, however. For example, in Cheq Bay Renewables' Solar Group Buy for 2018, the contractor, Next Energy Solution partnered with Home Loan Investment Bank and offered financing through that program. You can check out the rates here that were used in the 2018 Group Buy. We hope to offer a similar product in our 2019 Solar Group Buy.
National companies are also filling the lending gap. Clean Energy Credit Union is one such company and you can check out their current programs and rates here. Besides reasonable interest rates, they use the renewable energy system as collateral, not the equity in your home, and they do not require any money down.
For larger commercial projects, the Property Assessed Clean Energy (PACE) program is offered in Bayfield and Ashland Counties. You can read more about that program here.
Cheq Bay Renewables has also sponsored a private, local financing option. The program is simply where a local lender is connected with a local renewable energy project and the two entities work out the specifics. A promissory note template can be used as a guide and is provided by CBR. If you have a renewable energy project that needs financing or are a local resident that might be interested in financially supporting a local project , please fill out our contact form here and tell us about your project or support.
National companies are also filling the lending gap. Clean Energy Credit Union is one such company and you can check out their current programs and rates here. Besides reasonable interest rates, they use the renewable energy system as collateral, not the equity in your home, and they do not require any money down.
For larger commercial projects, the Property Assessed Clean Energy (PACE) program is offered in Bayfield and Ashland Counties. You can read more about that program here.
Cheq Bay Renewables has also sponsored a private, local financing option. The program is simply where a local lender is connected with a local renewable energy project and the two entities work out the specifics. A promissory note template can be used as a guide and is provided by CBR. If you have a renewable energy project that needs financing or are a local resident that might be interested in financially supporting a local project , please fill out our contact form here and tell us about your project or support.