DCU to provide $100 million in loans for solar projects
Digital Federal Credit Union signed an agreement Tuesday to provide up to $100 million in financing for residential solar loan projects.
The deal between San Jose-based SunPower Corp. and the Marlborough-based credit union will allow a homeowner who joins DCU to receive a loan of up to $50,000 for a high-efficiency solar power system, the credit union said.
DCU will serve as the lead credit union in a 36 credit union consortium bankrolling the program, meaning they’ll deal directly with homeowners. Loans originating from DCU may be farmed out to other credit unions injecting money into the program.
The loans are available for terms up to 20 years, DCU said, and may allow residents to qualify for the 30 percent federal tax credit currently available for installing solar power systems.
SunPower has dealers based in Framingham, Hopedale, Hudson, Marlborough and Natick.
DCU is New England’s largest credit union, and has more than 390,000 members in all 50 states.
Read more
Lower Natural Gas Prices Could Impact Solar, Wind
Region's Largest Home Solar Electric System Installed
WBJ Web Partners
Most Recent
Most Recent
0 Comments