Texas Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 05/03/2012
Program Overview:
| State: |
Texas |
| Incentive Type: |
Utility Loan Program |
| Eligible Renewable/Other Technologies: |
Solar Water Heat, Photovoltaics |
| Applicable Sectors: |
Residential |
| Amount: | Minimum Solar Water Heating: $500
Minimum Solar PV: $1,500 |
| Maximum Incentive: | Solar Water Heating (Single Family): $5,000
Solar Water Heating (Duplexes): $10,000
Solar PV: $20,000 |
| Terms: | Solar Water Heating Rate: 0% - 2.0%
Solar PV Rate: Market Rate
Credit scores of 639 or below will carry an additional 2.0% interest rate.
Repayment: up to 10 years |
| Web Site: |
http://www.austinenergy.com/Energy%20Efficiency/Programs/Loans/Re...
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Summary:
Austin Energy offers two types of loans for residential customers to finance solar water heater and and solar PV systems in eligible homes. Solar water heater loans are available for up to $5,000 for single family and $10,000 for duplexes. In addition, Austin Energy offers solar PV loans up to $20,000 for solar photovoltaics, which may be combined with Austin Energy solar PV rebates.
Terms for Austin Energy solar loans are 3, 5, 7, or 10 years. All work must be done by a program-approved contractor.
For loan pre-approval with Austin Energy's financing partner, can contact Velocity Credit Union.
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.
While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.
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