Vermont Business Magazine VSECU, a credit union for everybody in Vermont, has been awarded a $125,000 grant from the Vermont Public Service Department’s Clean Energy Development Fund to help Vermont residents reduce financing costs for investments in community solar arrays. The funding, available only through VSECU, will be available for a limited time to buy down interest rates on loans used to purchase shares in, or portions of, community solar projects.
“VSECU is committed to helping our members and employees live greener lifestyles, and working to protect our environment through our products and our operational practices,” said Rob Miller, CEO of VSECU. “We are proud to partner with the Clean Energy Development Fund to help power this interest rate buy down program and help make community solar purchases more affordable for Vermonters.”
VSECU is currently seeking eligible applicants interested in purchasing shares of a community solar project who will benefit from this program. Residents working with an eligible solar company for their community solar purchase can apply for a loan through VSECU’s VGreen program, which is designed to finance residential energy improvement projects. Once that financing is secured by eligible borrowers, the Community Solar Loan Program buys down the interest rate, reducing the loan interest rate by up to 1.5 percent.
“The loans we offer through our VGreen program are incredibly popular for financing the purchase of residential rooftop and ground mount solar panel installations. This grant gives us additional resources to help Vermonters who wish to go solar, but don’t have an ideal site for solar panels, are renters, or just want to benefit from the cost effective alternative of owning panels in a community solar project,” said Laurie Fielder, VGreen Program Director at VSECU. “The program benefits our members, supports Vermont clean energy jobs, and contributes to our efforts to help meet our state’s renewable energy goals.”
To learn more, or to apply for the community Solar Loan Program visitwww.vsecu.com/communitysolarloan, or call VSECU at 802/800 371-3136.
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