What is the PSEG Loan Program?
The PSEG loan program
It provides the ability to help finance your solar purchase by providing an SREC backed loan from PSEG (local utility).
As with all long term commitments tied to Solar Renewable Energy Credits, the actual price you will receive is subject to a significant risk discount, but two birds in the hand may or may not be worth more than in the bush.
How does the PSEG loan program work?
PSEG will agree to buy 10 years of a facilities SRECs for a lump sum-fees and interest discount. This should cover between 40%-60% of a homeowner's solar costs.
Add in the 30% Federal Tax Credit and you are close to getting that "costly" solar system paid off before it even produces any energy!
For the risk adverse, the PSEG loan program is a good solution to receive an upfront payment for Solar Renewable Energy Credits from an installed solar system in NJ.
Applications begin Oct 31st 2016 and end Nov 16th for this solicitation.
Contact our desk @for more information.