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We like to say, “If you can pay a monthly energy bill, you can afford solar.” And with a solar loan, it’s easier than you might think. Instead of renting electricity from a utility company and dealing with unpredictable rate hikes, a solar loan lets you own your energy without a big upfront payment. ReVision Energy works with Clean Energy Credit Union (Clean Energy CU) to offer loans that make solar, heat pumps, battery storage, and EV chargers affordable for everyone.
As a not-for-profit credit union, Clean Energy CU exists solely to make clean energy financing more accessible. This means:
Nicole Burford, VP of Marketing at Clean Energy CU, says the mission to make clean energy affordable is what drew her to the organization in the first place.
“I've worked in marketing for over 10 years and am very passionate about the environment. I just couldn’t go one more day working in the corporate world without having an emphasis on doing good and trying to mitigate climate change. From day one, it was clear to me that every single decision that is made at Clean Energy Credit Union is made with the environment and affordability for everyone in mind.”
Not all solar loans are created equal; solar financing and comparing quotes can be tricky when companies aren’t transparent with their offerings. Robert Strishock, the Renewable Energy Dealer Success Manager at Clean Energy CU, says he’s seen several ways companies in the loan industry overcomplicate financing terms to make a deal appear better on the surface.
“I’ve seen companies add an extra year to a loan period to make the monthly payment appear lower, but the overall cost ends up being higher. Or some companies will advertise no payments for the first six months, which sounds great, but they’re really just delaying the cost while interest is piling up over those six months. With a loan like that people wouldn’t even be touching the principal payments until two and a half years later.”
Clean Energy CU takes a different approach. With Clean Energy CU’s solar loan, the first 15 months are interest-only payments, giving homeowners time to capitalize on the federal tax credit before full payments begin.
Some lenders include hidden dealer fees in their loan products to cover the cost of offering low interest rates. With dealer fees, you essentially pay extra in the total loan amount to get a lower monthly payment. This can sometimes provide savings but only if you keep the loan for the entire term. If you plan to pay the loan off early, you won’t get those savings, and you’ll have already paid the extra fees. Robert says that homeowners should keep an eye on every cost that goes into the total loan amount – and ask about anything hidden that a salesperson might not have mentioned.
One unique feature of Clean Energy CU’s solar loans is the ability to refinance quickly, which is a rare option in solar financing. Unlike traditional mortgage refinancing, which can be expensive and time-consuming, Clean Energy CU offers a quick, low-cost process. Refinancing is a huge plus because it means if rates drop, you’re not stuck with your original loan terms.
“There’s a simple online form,” explains Robert. “We do an analysis based on the information the customer provides in the form, and if refinancing makes sense for them, we move forward.”
Clean Energy CU also offers the flexibility to make extra payments on your loan at any time, without prepayment penalties. You can pay off your loan faster or lower your monthly payments by re-amortizing your loan, which means recalculating your monthly payments based on your remaining loan balance after a prepayment. If you pay down at least 15% or more of your loan, there’s no fee to adjust your payments; if it’s less than 15%, a $75 fee applies.
Another advantage of financing with ReVision and Clean Energy CU is the ability to bundle solar, battery storage, heat pumps, water heaters, and/or EV chargers under one loan. Many lenders require separate financing for each technology, leading to multiple payments which can cost more. The flexibility of one loan allows homeowners to cut their overall energy costs faster rather than adding upgrades over time.
Clean Energy CU is selective about which solar companies they partner with. They only work with installers that:
Robert says Clean Energy CU’s vetting process is strict for a reason. "We want to ensure our members work with credible installers who do the job right and are going to be there to support them and their system for the long run. If we can partner with installers who take care of their customers, we increase the odds that our members will have a system that is working and cared for over the lifetime of their loan."
If you’re considering installing clean energy technology like solar, heat pumps, battery storage, or EV chargers and want a financing option that’s affordable and transparent, ReVision Energy and Clean Energy CU have you covered. Give us a call to explore your financing options and start your journey to energy independence.
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