Solar Power Loan program – Arizona

Sulphur Springs Valley Electric Cooperative (SSVEC) members now have access to a solar or wind power loan program.

Members may borrow $2.00 per watt for up to a maximum of 25% of the total cost of a solar or wind energy system. The interest rate is set at 3%. The loan will be secured by a lien on the house or property.  For loans under $10.000, the loan will be repaid in equal monthly installments over a period of five years.   Loans larger than $10,000 will have a repayment plan of ten years.  Should the individual wish to pay the loan off earlier, there is no pre-payment penalty.  The cap for loan amounts has bee set to  4 kW for residential systems, and 10 kW for small business systems. Due to limited funds, the loan program is set on a first come, first served basis.

SSVEC’s loan program can be combined with their rebate program. The loan and the rebate combined cannot pay for more 75% of the system’s cost.

For more details and specifics visit:  http://www.ssvec.org/programs/energySunWatts.php

You can get additional details through the following contact:
lbert Gomez
Sulphur Springs Valley Electric Cooperative
350 North Haskell
Willcox, AZ 85643-1718
Phone: (520) 515-3473
E-Mail: albertg@ssvec.com
Web site:  http://www.ssvec.org

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One Response to “Solar Power Loan program – Arizona”

  1. Kay
    October 7, 2014 at 10:45 pm #

    It depends on what you mean by “amount” of elcricteity. Normally that would mean the total energy produced over a given period. In that case, the main factors are1) Efficiency of the solar cells2) Total irradiation received: incident radiation density times the solar panel area, and the angle of the incident radiation.Item 1) is determined by the materials and method of construction of the solar cellsItem 2) depends on the location of the panel, both on earth’s surface (latitude), time of year, and how the panel is oriented with respect to the horizontal. Altitude of the location can also be a factor. Prevailing weather conditions, number of cloudy days, etc. are important. Independent of these parameters, larger area means more elcricteity.

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