Austin Energy - Residential Solar Loan Program

April 27, 2015

Summary

Austin Energy offers two types of loans for residential customers to finance solar energy systems in eligible homes:

Solar water heater loans are available for up to $5,000 for single family and $10,000 for duplexes. (A customer can choose either the loan or the rebate incentive for solar water heaters, but not both.)
Solar PV loans are available for up to $20,000, which may be combined with Austin Energy solar PV rebates.

Terms for Austin Energy solar loans are 3, 5, 7, or 10 years. All work must be done by a program-approved contractor.

For loan pre-approval with Austin Energy's financing partner, customers can contact Velocity Credit Union.

Program Overview

Implementing Sector:	Utility
Category:	Financial Incentive
State:	Texas
Incentive Type:	Loan Program
Web Site:	http://bit.ly/1AR7ogC
Administrator:	Austin Energy
Start Date:
Eligible Renewable/Other Technologies:	Solar Water Heat Solar Photovoltaics
Maximum Loan:	Solar Water Heating (Single Family): $5,000 Solar Water Heating (Duplexes): $10,000 Solar PV: $20,000
Loan Term:	Repayment: up to 10 years
Interest Rate:	Solar Water Heating Rate: 0% - 2.0% Solar PV Rate: Market Rate Credit scores of 639 or below will carry an additional 2.0% interest rate.

Incentives

This program has 2 incentives

Technologies:	Solar Water Heat
Sectors:	Residential
Parameters:	The incentive has a minimum of $5000.00

Technologies:	Solar Water Heat
Sectors:	Multifamily Residential
Parameters:	The incentive has a minimum of $10000.00

Contact

Name:	Customer Care Center
Organization:	Austin Energy
Address:	721 Barton Springs Austin TX 78704-1194
Phone:	(512) 974-7827
Email:	custinfo@austinenergy.com

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.