ISLAND PARK, N.Y.–With the ending of the PSEGLI solar rebate in this market, a brand-new, solar-specific loan has been created by Nassau Financial FCU here and SunPower by EmPower Solar.
The new program allows homeowners to go solar with no upfront cost and replace their existing electric bill with a fixed monthly payment that provides for immediate monthly savings of 30% or more, the credit union said.
“While similar loan products have enabled thousands of Long Island homeowners to go solar over the last few years, this is the first time that a Long Island-based credit union is making this type of program available to their members,” NFFCU said in a statement.
“Our new solar loan program will help our members save money and make a difference on Long Island as we create a cleaner environment,” said John T. DeCelle, president and CEO of Nassau Financial Federal Credit Union. “We are excited to be working with SunPower by EmPower Solar by delivering this unique solar loan opportunity to our members and Long Islanders throughout Nassau County,” added DeCelle.
SunPower by EmPower Solar, in business since 2003 and recently voted the top Long Island solar company on Yelp, is the exclusive company offering the Nassau Financial solar loan product to their clients.
The loan is available with interest rates as low as 3.49% APR, the credit union said.