UTAH ENERGY HUB

Solar made simple.

Financing for SCPW Solar

There are a number of financing options participants can take advantage of to lower the initial up-front cost of going solar. When considering financing, always review all terms and conditions and consider how the loan will be secured (for example, by the solar panels and equipment, by equity in your home, or by something else). SCPW Solar is not a tax expert and not qualified to provide tax advice, so always consult a professional if you are considering financing.

For more information, answers to commons questions, and a list of solar financiers doing business in Utah, additional information is available from Energy Sage.

Financing Options

Option 1: Clean Energy Credit Union

Thanks to Creative Energies’ partnership, SCPW Solar participants can finance their solar with the Clean Energy Credit Union (CECU). CECU, like Creative Energies, is a partner of the Amicus Solar Cooperative, which provides members with special deals by working as a purchasing cooperative.

CECU offers 100% financing split into two loans: a 70% Long-Term Solar Electric System Loan (12-Year) and a 30% Short-Term Tax Credit Loan (12-18 months). The loan is secured by the solar equipment installed (not by the equity in your home), and had no dealer fees and no loan origination fees. Their fixed interest rate is as low as 5.25% for qualified buyers.

CECU offers loans on other products including electric cars and bikes, geothermal heat pumps, and Green Home Improvements.

Option 2: Home Equity Line of Credit

Home Equity Lines of Credit (HELOCs) can sometimes provide participants who have a good credit score with a lower interest rate (5% or less). HELOCs are secured by the equity of your home, and not the solar panels, which is important to consider if you plan on selling your home before the loan is fully paid back.

Option 3: Solar-Specific Financing

Some banks and credit unions provide solar-specific financing; a selection of options doing business in Utah in provided below.

Funded by

DISCLAIMER: Eligible homeowners who desire to participate in the Summit Community Power Works (SCPW) Solar Program will work directly with the selected installer to get a bid based on the size, location and energy use of their home. Homeowners who decide to install solar will contract directly with the installer – SCPW and Utah Clean Energy (UCE) will not be a party to the contract – and the panels will be installed on a first-come, first-served basis. Participating homeowners are solely responsible for negotiating and agreeing upon the terms of the contracts and related payment and financing arrangements. SCPW and UCE are not in a position to make, and do not make, any representations or guarantees about the installer or their work. Participating homeowners need to do their own due diligence and be satisfied that the installer can and will provide the homeowner with what the homeowner needs and expects. As a condition of participation in the SCPW Solar Program, and acknowledging SCPW and UCE’s role as facilitators of the discount Program, all participating homeowners agree to release SCPW and UCE from, and agree that SCPW and UCE will not have any responsibility or liability for: (i) the work performed by an Installer, (ii) any payment or financing related to such work, and (iii) any claim that may arise in connection with any of the contracts between a homeowner and the installer.

NOTICE: WE ARE NOT A SOLAR COMPANY

We would like to clarify that Utah Clean Energy is not a solar company. We are a nonprofit organization that advocates for solar and other clean energy technologies, but we do not install or sell solar in any way.

Utah Clean Energy Association is not affiliated with our work. This is a sales group that despite our best efforts to get them to stop, continues to use our name in their advertising. We encourage you to report them to Google Ads as misleading. The company that reached out to you is likely a solar company that purchased your contact information as a lead. You may consider reporting that company to the Better Business Bureau for using misleading sales tactics also.

We apologize for any confusion this may have caused and appreciate your understanding.

Thank you,
The Utah Clean Energy team