Want Solar but can’t make the up-front investment?

1/30/11

Philip W. Stewart

If you have a backlog of proposals that you have given to people who want solar, but couldn’t make the out-front investment, here is a solution that you should know about.


Low cost renewable energy financing for home and business owners is available through The American Energy Independence or AEI Bond. Here are three key things you need to know:

1. Any licensed solar / renewable energy installer can sign their customers up for the AEI Bond.
2. The AEI Bond provides low-cost financing for home and business owners that want renewable energy technologies.
3. The time to act is NOW! There is no reason to wait, and some very good reasons to move fast.



Background

Jamey Johnston started on the AEI Bond almost two years ago. Jamey recognized that the out-front cost of going solar was a big barrier to home and business owners who wanted to be energy independent, and came up with a “let’s make solar affordable” plan. He talked to his Mayor, Alpine’s Hunt Willoughby, and Jason Burningham, a principal with the SLC investment banking firm of Lewis, Young, Robertson & Burningham (“LYRB”) and they helped to create the AEI Bond. Here is an overview of how it works.


Utah Installers and the AEI Bond:

• The AEI Bond is available to ANY licensed Solar Installer.
• If you want more information, contact The NRG Bureau’s Philip Stewart (nrg.bureau@gmail.com) / 770-862-4008. He can get you started.


How it Works:

• Participating home and business owners make a 20-25% down payment.
• They “assign” their State and Federal Tax Credits to further pay down the system cost.
• The balance owing is paid off over ten years. The monthly payment is about what the customer would pay to the utility for the power the system is generating.
• The interest rate is 5% to 6%, perhaps less.
• There is no pre-payment penalty.



The bottom line is that the AEI Bond makes it easier to sell solar and other renewable energy technologies. Call Philip Stewart to learn more -- (nrg.bureau@gmail.com) / 770-862-4008.

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