Financing Your New Projects

There are various ways in which you can join the green revolution.

Energy Upgrade includes them all, first you can simply purchase the products, or you can apply for one the financing programs approved by the state of California.

Our goal is to fully understand your needs and requirements in order to match you the most suitable option.

Find Financial Options That Work for You

CSI (California solar incentive) offers unique cashback financing programs for applying green technology solutions to your property.

The state of California is leading the green revolution by generating solar-based electricity and promoting a greener, cleaner and better future for the state.

Thousands of homeowners have already earned cash back rebates by installing solar energy systems through the California solar initiative. The formula they offer is simple for every watt of solar energy installed in your home you can earn cash rebates. The result is a newer home due to newly installed products, cash back rebates, increased property value and no more utility bills !! So basically this is a win-win situation.

Secured - PACE: property assessed clean energy

Major PACE companies: Renovate America, Hero, Benji, YGreen, etc.

These companies are in partnerships with local governments to encourage property owners to transition to cleaner energy and water. Instead of paying all the costs upfront, PACE loaners receive a loan of anywhere from 5 to 25 years, the interest is added to their annual property tax and qualification is based on home equity.  

A secured loan is based on a promise of an asset, usually a home as collateral for the loan. This provides security to the lender in case one cannot repay the loan. The lender can hold a lien on the property and can rake possession to pay off the loan if needed.

 

Since secured loans use properties as collateral, they assume less risk than unsecured loans, thus, the requirements are often lower than secured loans, such as lower credit scores may qualify for secured rather than unsecured. Also, many secured loan requires no money down. The interest in such loans is tax-deductible.

To conclude
  • Based on your home equity and line of credit
  • Usually offered by large national financial services or credit unions
  • Provide a lower interest rate than unsecured
  • How to post new project
  • Interest can be tax-deductible
  • The lender may repossess your home if payments are not completed.
  • List The process may take a bit longer than unsecured due to the large bodies involve
Why choose a secured loan?
  • You are looking for a more long-term loan value rather than short-term cash flow
  • You are comfortable using your home as collateral and you have enough home equity to pay for a solar system.
  • The tax-deductible interest is beneficial to you because you have a large enough tax liability.
  • You want to maximize the financial benefits of your solar system.
  • You have no urgency and can afford to wait for approval

Unsecured

Major companies include E3, Mosaic, Sunlight Financials, Loanpal, GreekSky and more. These financial services are privately held, and independent from governmental requirements which means that they are more flexible with their terms tend to have higher interest rates, they also have fewer limitations, in addition, you cannot use your property’s equity as collateral which means these types of financial services take more risks and so do you.  With an unsecured loan, you borrow money from the lender to install your system without using your property’s equity, which means they cannot foreclose your home. However, they are a riskier source secured loans. 

To conclude
  • As opposed to secured loans, you can be approved in minutes
  • For those unwilling or unable to use a secured loan this is a great alternative
  • Interest paid is not tax-deductible
  • May affect your credit score
  • Are better for short-term value
  • Do not require your home as collateral
Why Choose An Unsecured Loan?
  • You don’t want to risk your home equity,
  • You don’t have enough equity to cover the costs.
  • You prefer to take advantage of your cash flow in the short term
  • You are not looking to take advantage of the tax-deductible interest

Go Green And Start Saving Today!

0% Down

PACE Programs offer a wide variety of financing options and we work with all of them! This means you can install energy efficient products today without paying a thing. You will start paying a minimum amount only a year after the installation. The amount will simply be added to your property tax and will result in an increase in your property value. You will have a 25-year agreement until payment is due. If the property is sold the agreement will automatically pass to the new owners. This will mark the end of paying your utility bills, which are way higher than the additional amount added to your property tax. Bottom line: install for free, pay minimum amount a year from installation, and ending payment of utility bills.

Find Financial Options That Work for You

At NRG Upgrade, we help everyone from home and business owners to government and non-profit clients obtain the balance they are looking for between saving on energy and keeping cash flowing. In fact, we can help you qualify for energy programs and rebates — new and existing — that make sense with your financial situation. You can keep your cash while taking advantage of our financing options and available opportunities.  

Get a Solar Energy System and Tax Credit

If your company installs a solar energy system, you may qualify for a federal tax credit that will help balance the system cost. When you combine this with potential rebates from state and utility entities, the cost of a solar system can be significantly reduced where your money is concerned. The net cost will be much more manageable for everyone involved than the actual cost of the system and technology. 

Learn About the California Solar Initiative

If you want cash back for going solar, then the California Solar Initiative may be the perfect solution for your company or home. In fact, the entire cost of an energy-saving utility can be rebated between 10 and 20 percent through this program. This is in large part due to the fact that the Federal Government is heavily invested in America’s success in becoming energy independent. That’s why homeowners are encouraged to adopt renewable energy and take advantage of the 30-percent federal tax credit that is issued to participants. 

Take Advantage of Available Rebates Today

When you take advantage of available rebates while using NRG Upgrade, you won’t need to make a final payment to us. This is because we will defer costs, opting to apply the rebate instead even before it has been approved so that you’re not left waiting. This means you can take immediate advantage of everything solar has to offer your home or business while we tie up the loose ends.  

Work With NRG Upgrade to Reach Your Solar Goals

With our available financing options, solar energy is within your grasp. Simply get in touch with NRG Upgrade today to discuss your specific energy goals so we can get started together. Whether you need a quote on a small family home or a large business, we can help you get a better idea of what to expect when it comes to financing solar energy systems. 

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