As a part of its effort to lower the “soft costs” of residential and small commercial rooftop solar photovoltaic (PV) systems in Massachusetts, DOER is developing a $30 million loan program. The goal of the program is to facilitate access to residential, direct-owned solar loan financing with good terms and low transaction costs as well as extend loans to homeowners with lower credit scores.
The $30 million residential solar loan program will be funded with Alternative Compliance Payments (ACP). DOER is currently working with partners and stakeholders to develop the program, which is expected to launch in early fall of 2014. Patrick Administration Announces $30 Million in Loan Funds to Support Residential Solar