Professionally Licensed (#C-31034) and Bonded
Call (808) 988-wire (9473)

How do I finance my PV system?

The best way to finance PV systems for homes is through a mortgage loan. Mortgage financing options include your primary mortgage, a second mortgage, or a home equity loan that is secured by your property.

There are two advantages to mortgage financing. First, mortgage financing usually provides longer terms and lower interest rates than other conventional loans. Second, the interest paid on a mortgage loan is generally deductible from your federal taxes.

If mortgage financing is not available, due to lack of title or negative equity, look for other sources of financing, such as conventional credit union and bank loans. Credit Unions generally offer much lower interest rates than either banks or finance companies. Because your PV system is a long-term investment, the PV financing terms and conditions are likely to be important factors in determining the effective price of your PV-generated electricity.

We know that selecting a lender can be a confusing process.  To assist you in this process, CEES has done the research and compiled list of some of the most favorable PV loan programs in the State of Hawaii.  Call Denise at 808.988-9473 (Wire) or This email address is being protected from spambots. You need JavaScript enabled to view it. Capital Electric to assist you with financing terms.

Disclosure: Loan rates and terms presented are provided as a guide and information not the direct representation from the lender. Rates and terms were extracted from the respective lenders website as of the date shown.  Information provided and rates are subject to change at any time.

 Special Loan Rates Provided Under Capital Electric Energy Solutions Financing Program. Loan Fees Apply

2 Year Introductory Rate of 0.00% APR

  • For solar water heating systems, photovoltaic (PV) systems or any other solar installation
  • Rate: 0.00% APR for the first 2 years; after the 24th month, interest rate will convert to 5.99% APR and will start to accrue interest for the remaining term
  • Low monthly payments
  • Term: up to 120 months (10 years)
  • Monthly payments are required and will be amortized over for the full term
  • Maximum loan amount is $50,000.00 (anything greater will be considered an exception and will need Executive approval)

 

MORTGAGE FINANCING – This is generally the preferred method of financing your PV system if you are a homeowner and have equity in your home.  It is always a good idea to check rates and terms provided by your existing mortgage company. 

HAWAII CENTRAL FCU (as of May 13, 2013)

Solar Photovoltaic Loan Special

  • Rates as low as 4.99% APR (based on credit)
  • 60 month term, limited to $25,000
  • No payments for the first 6 months, however interest is accrued
  • For 25k - $50k  as low as 5.99% at 84 mths
  • No payments for the first 6 months – however interest is accrued
  • Unsecured loan, no UCC1

 Single family dwelling, fee simple, owner occupant

  • Quick turnarounds & approvals
  • No equity needed
  • Rates and Terms up to 84 months available - Limited time only!-


     Click Here to apply or call our Consumer Loan Department at (808) 536-3677 for more information.

 

HAWAII CENTRAL FCU MEMBERSHIP OPEN TO:
Persons who live, work, worship full-time or attend school on the Island of Oahu, and members of their immediate family or household.

UNIVERSITY OF HAWAII FCU (as of May 13, 2013)

Home Equity Green Loan for solar water heating systems & photovoltaic (PV) systems 

  • Only 2.99% APR* (Limited time only)
  • Homeowners only
  • Minimum loan amount: $1,000   Maximum loan amount: $100,000
  • Loan term amortized over 10 years
  • Interest rate will be an introductory rate of 2.99% APR fixed for the first two years, then the rate will change annually on July 1, of every year thereafter, and will be based on the Prime Rate
  • Minimal closing costs (recording fees)
  • Loan to Value may NOT exceed 90%
  • Rates subject to change

Click Here to apply or call our Consumer Loan Department Call (808) 983-5500, or This email address is being protected from spambots. You need JavaScript enabled to view it..

UH FCU MEMBERSHIP OPEN TO:
If you’re part of the University of Hawaii system, you can join!  UHFCU serves faculty, staff, students and alumni as well as their immediate family or household members.

CITY OF HONOLULU SOLAR LOAN PROGRAM

Low and moderate income homeowners who want to install photovoltaic (PV) and or solar water heating systems for their home may be able to qualify for the City’s Solar Loan Program.  The loan will be 0% interest rate with monthly payments up to 20 years to finance the installation work.  In addition, if other essential home repairs such as re-roofing, electrical re-wiring, plumbing, painting and termite reapir and home accessibility improvement are needed, the work can be included in the installation.  The financing terms will also be a 0% interest rate up to 20 year payment term.  

For more information or to obtain an application, call or visit the following Rehabilitation Loan Branches:   

DowntownKapolei
5-1 Merchant Street1000 Ulu’ohi’a Street #118
768-7076768-3240

 

 

 

CONVENTIONAL FINANCING –  If you are not an existing homeowner or do not have available equity in your home,  contact these lenders for the most favorable rates and terms.

ALOHA PACIFIC FCU (as of May 13, 2013)

Dealer Solar Loan - 5.99% APR

  • For solar water heating systems & photovoltaic (PV) systems
  • Rate: Currently 5.99% APR
  • Terms: up to 120 months (10 years)
  • Maximum loan amount is $50,000.00 (anything greater will be considered an exception and will need Executive approval)
  • Subject to credit approval and solar installer only through Capital Electric & Energy Solutions LLC or other qualified solar dealers as approved by APFCU.
  • Earn 10,000 HawaiianMiles

This program is only available to solar installers pre-approved by APFCU such as Capital Electric.  Click Here for loan application.  For more information call the  Consumer Loan Department at (808) 531-3711 or visit one of the 9 locations throughout Oahu. 

APFCU MEMBERSHIP OPEN TO:

  1. To join, you must belong to one of the groups listed below and maintain $100 in your savings account. City & County of Honolulu employees and retirees
  2. Immediate family members of #1
  3. Same household of #1
  4. HGEA members and employees
  5. Select Employee Group
  6. Non-profit organization: ($10 donation) to Hawaii Ballroom Assn, Waipahu Community Assn or Moanalua Gardens Foundation

HONOLULU FEDERAL CU (as of May 13, 2013)

Rates as low as:

  • 2.74% APR  up to 60 months based on credit

or

  • 3.99% APR up to 96 months (8 years) based on credit

    Click Here to apply or call our Consumer Loan Department at (808) 523-7037for more information.

HONOLULU FCU MEMBERSHIP OPEN TO:

  • Civilian employees of the U.S. Government headquartered in Honolulu, Hawaii, including civilian and military employees of all branches of Department of Defense.
  • Civilian and military personnel of the 14th Coast Guard District who work in or have headquarters in the 14th Coast Guard District, Hawaii.
  • Members of the U.S. Armed Forces including the U.S. Coast Guard who live in Hawaii, active or retired, or their dependents or dependent survivors who live in Hawaii who are eligible to receive and are receiving benefits or services from the Sand Island Coast Guard Base in Hawaii.
  • Contractors and employees of contractors who regularly work at the Sand Island Coast Guard Base in Hawaii under contract with the U.S. Government except those who are eligible for primary membership in another credit union by virtue of their employment.
  • Or employees of one of several employer groups. Click Here for entire list

MAUI COUNTY EMPLOYEES FCU (as of May 13, 2013)

***Rates are 4.50% APR up to 5 years and 6.99% APR up to 10 years.

MAUI COUNTY EFCU MEMBERSHIP OPEN TO:

  • Employees of the County of Maui
  • Employees of the State of Hawaii
  • Employees of the Federal Government
  • Part-time, temporary and student help employees of the County of Maui, State of Hawaii and Federal Government.
  • Retirees, pensioners and/or annuitants of the County of Maui, State of Hawaii and Federal Government.
  • Employees of the Hawaii Government Employees Association (HGEA)
  • Members of the Maui Chartered and County Code Established Boards, Commissions and Advisory Committee
  • Elected government officials representing the County of Maui
  • Employees of Maui County Federal Credit Union
  • Unmarried spouses of persons who died while in the field of membership of this Credit Union
  • Immediate family or household members of any person listed above
  • Immediate family or household members of any primary member (first name on the account)
  • Or employees of one of several employer groups.  Click Here for entire list

HSEA Member

Hawaii Solar Energy Association

Contact Info

Capital Electric & Energy Solutions, LLC, Inc.
PO Box 25506 , Honolulu, HI 96825
Ph. (808) 988-wire (9473)
Fax: (808) 791-4124

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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