Renewable Energy Project Financing

A wide variety of financial strategies have emerged across the country to aid owners in raising the necessary capital for installing a PV system or in spreading the cost out over the life of the system.

In New York City the most common method for financing a system is paying with upfront capital or cash. Many residential installations can be funded using a home equity line or by refinancing a home mortgage. For commercial systems (and some residential systems), it may be worth exploring signature loans, equipment leases and commercial loans with your bank.

 

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Solar Installation


financing resources

NYSERDA
NYSERDA's Green Jobs-Green New York Loan Program provides low interest loans for energy efficiency and solar thermal projects.

National Renewable Energy Lab
NREL recently launched a new Renewable Energy Project Finance website. This site includes many helpful resources such as the Homeowner's Guide to Financing a Grid-Connected Solar Electric System <pdf> and Solar Photovoltaic Financing: Residential Sector Deployment <pdf>.

Solar Electric Power Association (SEPA)
SEPA published an interesting report on financing residential solar systems in 2009: Photovoltaic Incentive Programs: A Survey of Residential Pariticpants <pdf>