January 6, 2022

$5 Million in Low-Interest Loans Made to Delawareans Through the

Residential Solar Loan Program

Father adn son playing soccer

 

Dover – Energize Delaware has provided over $5 million in low-interest loans to Delawareans who installed solar systems on their homes. According to the American Solar Energy Society, renewable energy is on course to provide 33-50% of U.S. electricity by 2030. Energize Delaware has funded 326 residential solar projects, with a total loan amount of $5.1 million.

According to Tony DePrima, Executive Director of Energize Delaware, “the program was created in 2017 so homeowners could access affordable capital to finance and ultimately own their solar system.”

“The Residential Solar Loan program has helped many Delaware residents purchase their solar systems while minimizing out-of-pocket costs. This loan program is a quick and seamless way for qualifying customers to reap all the financial and environmental benefits from going solar. The success of the Residential Solar Loan program has created more opportunities for Delawareans to go green.” said Program Manager Rachel Land, who works for InClime Solutions, the company hired by Energize Delaware to run the program.

James Paul Tindilia of Wilmington who utilized Energize Delaware’s Residential Solar Loan Program, said, “The project is an 11kW array situated on the back roof, invisible from the street. I am ecstatic with the way the Residential Loan process worked. Both my salesperson and the project engineer at CMI Electric painstakingly determined the costs of the system, factored in government rebates and other incentives, and filled out all the paperwork for the loan. I have to admit the process was seamless.”

 

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