MILWAUKEE – Summit CU is partnering with Milwaukee Shines, a city project that encourages the use of solar energy, to help homeowners finance installation costs for solar panels.
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Under the program, launched yesterday, the loans will be available for solar electric or hot water systems. Homeowners also can take advantage of a 30% federal tax credit and a Focus on Energy incentive.
The first 20 participants in the loan program will receive $1,000 off the cost of solar installation. The financing arrangement will supplement incentives that homeowners and owners of multifamily dwellings with up to three units can receive.
Summit will offer $2 million in solar loans. Financing is capped at $20,000 per project over 15 years.
