SunPower launches solar loans for Australian homeowners
Aug 21, 2013 - US photovoltaics (PV) maker SunPower Corp (NASDAQ:SPWR) said Tuesday it had joined hands with Australia’s Community First Credit Union to finance the purchase of its home solar systems in Australia.
The partners are offering SunPower solar loans of up to AUD 35,000 (USD 32,000/EUR 24,000) for the buy of a residential solar power facility. The financing is offered with two differed interest rates, depending on the scheme. A starting rate of 6.99% in the first year and 7.10 in the second year is offered to applicants until the end of 2013. A plan with a 7.49% fixed-rate interest in the first five years is also available.
Interested homeowners are approved through Community First's credit criteria and do not need to offer property as collateral. The unsecured loans are extended for a term of up to 10 years, while principal on the loan can be paid down earlier with no penalties.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.