At Green Mountain Solar, we’re committed to making clean energy systems more accessible to Vermont homeowners and businesses. That’s why we partner with EastRise Credit Union to provide financing options for solar systems and batteries! Keep reading to learn about the current loan options and what you need to apply.
UCC Secured Loan Options for Projects Over $10,000
For solar system or battery projects exceeding $10,000, financing will now be processed as a UCC secured loan, with a maximum loan amount of $90,000.
You can use up to 15% of the total loan toward necessary upgrades for your project like:
- Electrical work
- Roof repair
- Tree removal
- Other prep work required to make your property installation-ready
If you’d like to roll these additional costs into your loan, we’ll include them in your project agreement. This ensures EastRise can extend our vendor-discounted rate, while Green Mountain Solar remains responsible for paying the other contractors directly.
What is a UCC Secured Loan?
A UCC (Uniform Commercial Code) secured loan uses the installed equipment as collateral. This type of loan is filed at the property level, which means it will appear on title searches in the event of a sale, transfer, or if a new mortgage or home equity loan is pursued.
What You Need to Apply
To apply for a UCC secured loan you will need to provide:
- Income verification
- Proof of home ownership (e.g., property tax bill)
- Property description for UCC1 Fixture Filing (warranty deed or mortgage deed)
Competitive Financing Options
We’re proud to offer vendor-discounted interest rates through EastRise Credit Union. These options give you the flexibility to choose a plan that fits your budget and timeline.
- 5-year installment loan: 5.2% (can apply 30% of the total loan (principal) within 12-months)
- 10-year ITC loan: 6%
- 15-year ITC loan: 6.75%
- 20-year installment loan: 8% (can apply 30% of the total loan (principal) within 12-months)
- 15-year Secured Energy Equity loan: 6% (unchanged)
Ready to Explore Your Financing Options?
If you’re interested in getting a loan for your solar or battery project, contact us to learn more about your options, and how you can apply for one!
