March 1, 2012- Thurston Energy has formed a partnership with two local credit unions, O Bee and Generations, to buy down the interest rates of loans for solar photovoltaic panels (solar PV) on businesses, non-profits and homes. The solar PV loan is being offered at 3% (down from an average of 7%). Thurston Energy is able to do this with $500,000 allocated from the Washington Department of Commerce to pilot the effectiveness of these low interest loans. Thurston Energy is looking for interested citizens to sign-up soon.
To access the funds local citizens need to:
– Be located in Thurston County
– Have an energy assessment on the home or business through Thurston Energy
– Work with an approved Thurston Energy solar contractor for the solar PV install
– Work with an approved Thurston Energy lender (O Bee or Generations Credit Union) for financing
– Meet the lender’s qualifications to receive your loan
Along with the Thurston Energy local lending program for solar PV there is currently the:
– 30% federal tax credit for both homes and businesses:
– WA State sales tax exemption
– WA State production incentives up to $5,000 a year
The Thurston Energy program is able to help local citizens perform energy efficiency upgrades, find trusted contractors and bundle all applicable incentives to greatly reduce the time of return on investment for energy efficiency and solar PV upgrades.
Residents and business owners can visit Thurston Energy’s website at www.thurstonenergy.org or call 360.528.2112 to find out more information about how the program works.
About Thurston Energy:
Started in January of 2010, Thurston Energy is a local program, run as a partnership between the Thurston Economic Development Council and the Thurston Climate Action Team. Thurston Energy’s mission is to drive investment in energy efficiency and renewable energy in order to save energy, save money and build our local economy.
