Austin Energy - Residential Solar Loan Program (Texas)

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Summary

Last modified on December 17, 2014.

Financial Incentive Program

Place Texas

Name Austin Energy - Residential Solar Loan Program
Incentive Type Utility Loan Program
Applicable Sector Residential
Eligible Technologies Solar Water Heat, Photovoltaics
Active Incentive Yes

Implementing Sector Utility
Energy Category Renewable Energy Incentive Programs
Amount Minimum Solar Water Heating: 500

Minimum Solar PV: 1,500
















Maximum Incentive Solar Water Heating (Single Family): 5,000

Solar Water Heating (Duplexes): 10,000
Solar PV: 20,000










Terms 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.
Repayment: up to 10 years

Program Administrator Austin Energy
Website http://bit.ly/1AR7ogC
Date added to DSIRE 2012-04-10
Last DSIRE Review 2014-09-16



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


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.


Incentive Contact

Contact Name Customer Care Center
Department Austin Energy

Address 721 Barton Springs

Place Austin, Texas
Zip/Postal Code 78704-1194
Phone (512) 974-7827


Email custinfo@austinenergy.com
Website http://www.austinenergy.com/index.htm
     
     


  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"