Solar Financing

SunPower Solar Loan

Program Overview
The SunPower Solar Loan is an exclusive financing program which allows you to spread the cost of  your solar system out over time, eliminate upfront costs and start saving money today.  This program is only available to PV systems the incorporate SunPower solar panels.  The Sunpower Solar Loan program is offered through First Tech Federal Credit Union.  Here are some of the features of the program:

v  You retain full ownership of the solar system
v  Unsecured (a.k.a. signature) loan which doesn’t tie up your home equity
v  Loan amounts of $5,000 - $50,000
v  5, 10, 15 & 20 year fully amortized loans without balloon payments
v  Low rates:  5.24% - 10.99% APR
v  Reasonable credit criteria: FICO’s starting at 670
v  All rebates and tax incentives go to you
        - Benefit from the 30% Federal Tax Credit 
        - Get the California Solar Initiative (CSI) rebate 
        - Fully depreciate 85% the cost of the solar system
v  No pre-payment penalties
v  One time loan buy-down with re-amortization allowed within the first 18 months
        - Apply your 30% Federal Tax Credit and drastically reduce your monthly payment
v  Application can be made by phone, written or via the internet
v  Decisions are made quickly and funding can occur within a few business days
v  First payments can be set out to 45 days

Borrowers must become members of First Tech Federal Credit Union to be eligible for the Sunpower Solar Loan.  There is a nominal $5.00 membership fee.

Below are sample loan amounts, rates and monthly payments for the Sunpower Solar Loan offered through First Tech Federal Credit Union.  The amounts below reflect an A+ borrower.*

$10,000 x 5.24% / 5 yrs.      monthly payment of $190

$20,000 x 7.99% / 20 yrs.    monthly payment of $167
$20,000 x 7.24% / 15 yrs.    monthly payment of $183  
$20,000 x 6.49% / 10 yrs.    monthly payment of $227
$20,000 x 5.24% / 5 yrs.      monthly payment of $380

$30,000 x 7.99% / 20 yrs.    monthly payment of $251
$30,000 x 7.24% / 15 yrs.    monthly payment of $273
$30,000 x 6.49% / 10 yrs.    monthly payment of $341
$30,000 x 5.24% / 5 yrs.      monthly payment of $570

$40,000 x 7.99% / 20 yrs.    monthly payment of $335
$40,000 x 7.24% / 15 yrs.    monthly payment of $365
$40,000 x 6.49% / 10 yrs.    monthly payment of $454
$40,000 x 5.24% / 5 yrs.      monthly payment of $759

$50,000 x 7.99% / 20 yrs.    monthly payment of $422
$50,000 x 7.24% / 15 yrs.    monthly payment of $459
$50,000 x 6.49% / 10 yrs.    monthly payment of $570
$50,000 x 5.24% / 5 yrs.      monthly payment of $951

*Actual payments amounts may differ +/- a couple percent.  These are very good estimates.

All information regarding the Sunpower Solar Loan, and specifically the First Tech Federal Credit Union’s rates, are subject to change at any time.  This document shall serve as a solid estimate of all rates, terms and qualifications.