The good news is that the credit markets are opening up to new financing options. These are easy to apply for, do not need to be tied to the home, and are relatively cheap in comparison to historic borrowing rates.
Edge’s Financing Options
In recent years, we’ve added up to 10 additional short term and long term financing options ranging from EEM (Energy Efficient Mortgages) through FHS to 12-months deferred interest and a host of mid-term options with 3-10 year terms.
Now, all your improvement dreams can come true with EDGE’s numerous financing options.
Positive Cash Flow after Deep Energy Retrofits
The money taken out from these loans or credit lines can be used for health or safety, durability, energy-efficiency improvements (air-sealing, insulation, lighting, windows/doors, etc), or renewable energy systems (solar, geo-thermal, wind, etc) just to name a few. Well-qualified borrowers (FICO > 640) can layer multiple plans to:
Pre-qualify for up to $80,000 towards energy-related home retrofits!
Sometimes, the energy savings from EDGE Energy solutions can subsidize or even outperform your loan payments!
The EDGE Energy financing programs are sponsored by third parties and our staff helps get your applications underwritten and approved for an additional loan processing fee. The entire financing process – from application to funding – is fast (usually 48 hours or less), fairly simple, and designed to turn your project plans into reality. Well-qualified borrowers (FICO > 640) can use multiple plans. Note that cash flow is an important factor in the decision to perform work or know how quickly a project will pay itself back for you. In many cases, the energy savings from a project can subsidize or even outperform monthly loan payments.
An explanation of cash flow and the financial economics of owning and operating a Solar PV system are explained in greater detail on the following few pages. See Section 17 for a full description of our quoting process.
Energy production is calculated with PV Watts, the industry Standard calculation tool. PV Watts uses your exact GPS location, array tilt, orientation, and size to calculate how much energy your system will produce.
In contrast to other financial investments, Solar PV is a simple equation of available sun energy, system size, and conversion efficiency. There is a mathematical payback, to which the only real variable is your electricity prices, which are expected to go UP – which only increases your payback!
Solar PV installation price can be offset by 30% within the first year through the Federal Tax Credit, as well as local rebates, as funds are available. After these incentives, your SREC sales and energy production put money back into your pocket, to create a real payback (in terms of years to break-even) and/or a rate of return usually over 9.0-11.0% per year… beat that, Wall Street!
Financing options and consumer credit lines are provided by affiliate lenders, and EDGE does not hold or service any of the debt which results from these options. Billing questions should be directed to your lender.
Financing Legal Disclaimer
Not all consumers will qualify. EDGE takes applications from customers and submits them to various financing lenders and/or bank underwriting departments and charges a small fee for this service. These credit lines are provided through affiliate lenders, and EDGE does not hold or service any of the debt which results from these options. Billing and payment questions should be directed to your lender.