Connecticut is one of the brightest spots in America, thanks in part to its strong push for residential solar adoption. The Constitution states that homeowners can benefit from multiple financial incentives when they invest in home solar. These include Federal Income Tax Credit, Net Metering, Property Tax Exemptions, and so on. These incentives are available to homeowners in many other states too. Despite these incentives, solar adoption continues to be an investment that requires thorough financial considerations. To make it easier for the state’s homeowners to go solar, the Connecticut Green Bank is offering attractive financing options that further sweeten the deal for them.
Stamford homeowners can benefit from these solar rebates without putting in a substantial cash investment upfront.
Introduction to Smart-E Loan
Smart-E Loan is a unique initiative by Connecticut Green Bank. The organization has partnered with solar installers and financing organizations to offer low-interest loans to eligible families for purchasing solar panel systems.
You can benefit from Smart-E Loans not only to finance your solar installations but also to qualify for home energy efficiency improvements that go with it. These include reroofing, switching to energy-efficient appliances, installing energy-efficient windows, etc.
- Smart-E Loans can be beneficial to homeowners for properties that are owner-occupied
- Available to Connecticut homeowners only
- Eligible families may be eligible for a maximum of $40,000
- The interest rates can be as low as 4.49% APR depending on the loan term
- Among other factors, homeowners would be evaluated based on their credit score, and debt-to-income ratio
- Households are not required to make any down payment when using Smart-E Loans
Other Important Information to Know
Smart-E Loans are offered in partnership with local contractors and lenders. In other words, homeowners should choose an approved solar installer to take advantage of this money-saving financing option. Green Power Energy is proud to be one such approved solar installer and can help you apply for the Smart-E Loan.
Smart-E Loans are available on a fixed-term basis for a maximum of up to 12 years, with the lowest being 5 years. To learn more about Smart-E Loans and how to successfully benefit from them, reach out to us today.