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.
Towards the end of summer 2015, DOER finalized program documents and updated the final program design; all documents can be found on the program website: www.masssolarloan.com . Over the course of Fall 2015, the Mass Solar Loan program is expected to secure lender agreements and launch.
The final program design can be found here