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SolarCity's New Loan Program Warms Your Home

Going beyond solar panels

By Scott Budman
|  Tuesday, Mar 27, 2012  |  Updated 9:32 AM PDT
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SolarCity's New Loan Program Warms Your Home

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Go green.

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SolarCity wants you to go solar.  But, if there are other areas of your home you want to fix first, they'll help you with that, too.

The San Mateo-based company, known for its successful loan program helping people to go solar, is broadening its loan base.  Now, it will give loans to help homeowners finance energy efficient upgrades elsewhere in the home.  From windows to water heaters, insulation to light bulbs, Solar City will help you "green" your home on the inside as well as on the roof.

The US Department of energy says the typical homeowner will spend close to $2,000 on his or her utility bill every year.  Much of that, according to SolarCity, is money that could be saved by tightening up seals around your house, adding insulation, and other little things.

SolarCity says the typical loan it plans to give out will range from about 4 to 12 thousand dollars.  Much like its loans to help you put panels on your roof, you can get the home improvement loans, and start making improvements without paying anything up front.

SolarCity says you can finance through one, three, or ten-year loans.

Got an upgrade idea? Scott can be reached on Twitter:  @scottbudman

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