Finding the best Solar Financing Options for Home Values in California can be difficult, so we put together this detailed list of the best of the best so you can make your decision wisely. Each financial institution has different specialties, but you can be sure that each of them is ready and willing to help you go solar. They each have been vetted by Solar Harmonics, so they are very familiar with providing loans for solar panel projects. This list of amazing banks is ever-changing and expanding, so please check back often. If you find another financing solution that should be listed here – or one that should be removed – please let us know!
1. Bank of the West – HELOC
Address: 140 Sunset Dr, San Ramon, CA 94583, USA
About: A Home Equity Line of Credit (HELOC) uses your home’s equity as collateral. Via a check, online banking transfer, at the branch, or by calling them, you can access the funds. You will pay down the principal balance during the draw period, making the portion of your credit line open for use during the remaining draw period.
Services Offered: banking, credit cards, loans, and investments
What Makes them Different: Bank of the West – HELOC has a clean design and easy navigation feature.
2. US Bank – HELOC
Address: San Ramon, CA 94583, United States
About: Their relationships are founded on confidence that, through every interaction, they create every day. Their workers are motivated to do the right thing to guarantee that they share the vision of their clients for success. As a partner, the US Bank works to deliver financial products and services that make banking safe, easy, and convenient. US Bank – HELOC is here to help negotiate significant milestones and together improve futures.
Services Offered: Their core businesses include Consumer & Business Banking, Corporate & Commercial Banking, Payment Services, and Wealth Management & Investment Services.
What Makes them Different: Through the company’s “One U.S. Bank” philosophy, they are able to bring the power of the whole bank to every customer, every single day.
3. ELN Network – Unsecured Loan with Fees
Address: 4115 Guardian St E, Simi Valley, CA 93063, United States
About: The ELN management team recognizes, with more than 35 years of lending experience, that the funding process can be frustrating and difficult to navigate. ELN will direct you with fast and friendly service through each step of the process. Regular status updates are sent to contractors and they have direct access to the friendly and skilled team of ELN.
Services Offered: HVAC replacement, insulation, windows/doors, roofing, and other improvements
What Makes them Different: ELN has opted to work with select lenders from credit unions dedicated to funding energy conservation. This is the smartest partner option since credit unions are “nonprofit” financial institutions that are focused on providing their clients with higher value and better service.
4. Provident CU – Unsecured Loan with Low Fee
Address: 1757 Technology Dr #10, San Jose, CA 95110, United States
About: Provident Credit Union was founded in 1950 to represent the California Teachers Association, currently the 100th largest credit union in the U.S. (21st largest in California). Provident Credit Union, headquartered in the San Francisco Bay Area, currently represents more than 125,000 members from over 1,200 employer organizations and operates branches throughout California. Provident has gained a reputation for total protection and soundness, with over $3.09 billion in assets.
Services Offered: checking accounts, savings accounts, term share certificates, investing & retirement, online banking, transfers, insurance, business solutions, and health savings
What Makes them Different:
The Provident Credit Union is committed to the protection of the deposits of its members. Provident maintains a very high capital ratio and the National Credit Union Administration insures the savings of up to $250,000 per member and up to $250,000 for IRAs (NCUA).
For 108 consecutive quarters, Provident has received a superior 5-Star ranking designation from the financial institution rating firm BauerFinancial, which places the company among the nation’s top 10% of credit unions.
5. Dividend Solar – Unsecured Loan with High Fees
Address: 433 California St #300, San Francisco, CA 94104, USA
About: Dividend is a leading national supplier for property owners of renewable energy and energy-efficient financing solutions. Through a robust suite of financing solutions, the company offers its clients the chance to obtain renewable energy financing. EmpowerLoanTM, their flagship product, continues to broaden its product offerings into the storage and home-energy space.
Services Offered: solar, home improvement, commercial PACE, and types of improvements
What Makes them Different: PACE, a public-private funding mechanism for energy management, renewable energy, water conservation, and seismic enhancements to private land, is also provided by Dividend.
Frequently Asked Questions
1. What are your procedures for ensuring a contactless installation process?
Solar is installed on the roof or the ground, and we already observed social distancing procedures. Our crews wear safety equipment including Personal Protection Equipment to prevent the spread of COVID-19 not only to our clients but also within our crews.
2. How is the sales process if we cannot meet in person?
With just a few pieces of information about your solar project, we can design an online solar proposal for your review. We then set a time to review the proposal by phone or Zoom to answer any questions you have. The financing process is paperless and contactless, any hard copies are sent by Priority Mail/FedEx. All of the contracts and disclosures are contactless using e-signatures.
3. How is the permit process contactless?
Many jurisdictions are starting to allow online permit applications and communication is facilitated by email. Final inspections are still completed in person, but social distancing and PPE are used to prevent the spread of COVID-19.
4. How do we ensure our installation crews are COVID-19-free?
Any of our installers who show up to work with an elevated temperature, coughing, fever, or other sickness, are sent home until the symptoms have subsided.
5. Where can I find more information about COVID-19 and the Solar Industry?
Please check with the SEIA (Solar Energy Industry Association) on all of the latest developments and safety protocols in the solar industry.
Considering Going Solar? Solar Harmonics is Here to Help
Most of our clients are looking for a company they can trust to help them go solar. Based on our decade in business, online reviews, and Diamond Certification, Solar Harmonics is the best choice to trust to complete your solar project on time, on budget, and with the expected results. It is our mission to design the best value solar panel system that produces reliably over the next 30 – 40 years and saves the most money for our clients. If the financial goals of our clients intersect with the global and environmental goals of our founder, it is a win for everyone except the utility companies. Contact us today for your free quote!
