Wells Fargo Expands Popular Solar Home Equity Credit Program

Wells Fargo Expands Popular Solar Home Equity Credit Program

GetSolar Staff. Wednesday, October 6th 2010 09:00
Wells Fargo & Company is expanding a promotion which works with California and Colorado solar installers to help give consumers financial incentives to put solar arrays on their homes.

The program is simple - when qualified customers use a home equity loan or a line of credit worth more than $15,000 to finance the installation of a solar energy system, they get up to $1,000 in cash incentives back.

Wells Fargo is working with three Southern California solar installers: Acro Energy, REC Solar and Verengo Solar - as well as a few Colorado solar installers.

"Through everyday actions and being aware of the ways our decisions affect the environment, we can all contribute to environmental protection and regeneration," said Mary Wenzel, director of Wells Fargo Environmental Affairs. "As a community-based financial institution, one of the ways we can help is by offering financial solutions that help our customers save not only time and money, but also protect our environment."

Improving solar financing in order to help consumers afford the up-front, fixed costs of a solar installation is one of the most important ways financial companies can help promote renewable energy.

In the end, such initiatives will go much farther than higher-profile solar installations at corporate headquarters - although those help as well!