CaliforniaFIRST: Home Energy Financing
With solar loan solutions, it’s possible to finance the installation of your solar panels instantly — without any immediate out-of-pocket costs. CaliforniaFIRST is just one of the fantastic options for individuals to consider, offering upfront financing solutions for renewable energy, energy efficiency, and power-saving improvements to your business or home.
Despite the obvious cost-effectiveness that comes with going solar, many residential and commercial property owners have avoided making the leap, in fear of the high costs associated with installation. Fortunately, new solutions for financing the installation of solar power have begun to emerge, making the switch to sustainable energy a more realistic option for thousands of people.
About CaliforniaFIRST (What They Do)
CaliforniaFIRST offers financing to property owners, through the PACE model for upgrades and renewable energy. PACE, or the Property Assessed Clean Energy program, allows individuals across the country to access economical ways to finance energy efficient upgrades to their private property. Through the PACE program, CaliforniaFIRST provides business owners and homeowners with long-term finance solutions, in which they can repay the costs of solar upgrades gradually — as part of their property tax bill.
With CaliforniaFIRST, individuals can borrow anywhere up to 15% of their total home’s value, and choose flexible repayment terms, ranging between 5 and 25 years. Thanks to its versatility and affordability, property owners are able to focus on upgrading the most essential parts of their structure right away.
Qualifying for a Solar Loan
Today, CaliforniaFIRST offers financing solutions in more than thirty counties across California — with over 180 participating cities and local governments contributing to clean-energy solutions. They only accept applications from people located within jurisdictions that have “opted in” to the program; though local governments across the state can get involved with the system by passing a simple “opt-in” application.
If you live or operate within a CaliforniaFIRST jurisdiction, you should find that accessing finance is quite simple — you can either apply online, or speak to a representative on the phone. Most consumers find that application approval only takes moments, meaning they can receive the money to start their upgrades almost instantly!
CaliforniaFIRST assess your application according to the following factors:
- Your property’s estimated market value
- The value of the solar energy installation you’ve chosen
- The amount of equity you have in the property
- The recent property tax and mortgage payment history in your accounts
Benefits of Home Energy Loans with CaliforniaFIRST
Perhaps the most significant benefit of opting for a solar-energy installation program through CaliforniaFIRST, is that the process can allow you to bypass a number of the typical financial hurdles homeowners face on the road to becoming more energy efficient. Plus, you can obtain the sustainable energy solution you need, without facing issues as a result of your credit score, debt-to-income ratio, or income verification.
CaliforniaFIRST offers its customers:
- Complete financing — which means no out-of-pocket costs for your solar upgrade.
- The ability to transfer remaining owed balances to new property owners, upon sale.
- Extended terms of up to 25 years’ repayment.
- Affordable, fixed payments, with no prepayment penalties.
- Decreased energy bills for your property, thanks to a more sustainable approach to electricity production.
Why Use Programs like CaliforniaFIRST?
You don’t have to wait to start receiving the comforts and cost benefits of sustainable energy solutions at your home or business. If you’re looking for a way to pay for your solar upgrade, getting financial support from a program like CaliforniaFIRST could be the perfect solution. Upon completion of your application, you can begin work almost immediately using approved contractors — and add value to your property, while increasing the comfort you experience within your home or business.
With CaliforniaFIRST, you achieve the upgrades you need without having to worry about any initial out-of-pocket expenses.