Green Earth Energy of Brandon, the solar subsidiary of The McKernon Group, has teamed up with SunEdison, a solar photovoltaic panel manufacturer, to help Vermonters take advantage of solar energy installations. The partnership will allow participants a one-stop solution to finance, purchase and install solar electric systems at their home.
SunEdison has introduced their Combo Loan Program, making buying a residential solar system available to more people. The initial portion is a zero interest loan with no payments for one year. This will allow the customer to receive all of their tax credits and rebates before having to pay off any of the loan. The second portion of the loan is 12 years at 2.99%. This is unsecured with a fixed rate for the life of the loan.
There are no out of pocket costs to purchase this solar system. The savings on the electric bill will typically cover the monthly payment on the 12-year loan. Additionally this will also eliminate rate increases from the electric company insuring stability in electric costs for the next 25 years. Therefore the homeowner will be investing in their own solar power generating system that should increase the value of their home for resale purposes.