Climate First Bank Reduces Solar Loan Rates - Solar Industry
Climate First Bank Reduces Solar Loan Rates - Solar Industry
Climate First Bank has re-envisioned its Residential Solar Loan product, to feature a new 30-year term with decreased rates than previously offered.
The bank says it hasn’t charged dealer fees since the loan program’s inception, nor does it charge a prepayment penalty. It added that last year, the bank financed $35 million in solar loans for businesses and $83 million in the same for individuals.
“We believe in financing for good and doing our part in protecting the irreplaceable ecosystem we live in. We do that by providing specialized loan options for sustainable initiatives like rooftop solar, regenerative building retrofits, EV charging and more,” says Ken LaRoe, Climate First Bank CEO and founder. “With the new and improved Residential Solar Loan, we ensure the lowest monthly payment for clients, making this lifestyle change more obtainable.”
Related Knowledge Center: Climate legislation
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.