SunBug keeps relationships with multiple financing partners to provide our customers with the best solution for their specific situation. Key factors in selecting a solar loan include quality and reputation of lender, borrowing limit, upfront financing costs, length of loan, and interest rates over loan term.
Two of the most popular financing tools for SunBug customers are the statewide Mass Solar Loan and the MySolar Loan, through UMass Five College Federal Credit Union. If you are interested in different loan offerings, please call us at (617) 207-8680 for more information.
SunBug Solar is an approved installer in the Mass Solar Loan program, developed by the Massachusetts Clean Energy Center to help Massachusetts residents to go solar. Through the approved financial instituations participating in the program, solar adopters can get a low-interest, fixed-rate loan to finance their solar PV system. One of the main advantages of the Mass Solar Loan program is the loan support it offers to income-qualified solar customers. Through its Income-Based Loan Support feature, the Mass Solar Loan will pay for a percentage (10% or 30%) of your loan principal. To see how you can qualify, please read about the Mass Solar Loan loan support incentives, here.
The MySolar loan is a direct solar loan offered by UMass Five College Federal Credit Union. While the MySolar Loan does not feature loan support, it does boast higher lending limits and a faster lending process. You can learn more about the MySolar Loan, here.
Clean Energy Credit Union offers solar electric loans at a fixed interest rate for no money down. They offer a 12-to-18-month loan that covers your Investment Tax Credit (26%), along with a 12-year loan for the remaining cost of your project. You can read more about their solar electric loan, here.
Sungage Financial offers a 10-year solar electric loan, for no money down, that includes some roof work and battery storage costs. You can read more about their loan process, here.
Have SunBug Solar do a no-cost assessment of your home to find out if solar could work for you. We'll do a complete analysis, factoring in the specifics of your site, the available state and federal incentives, the projected energy savings, and all of the different financing options. Just fill out this simple form.
