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CEFIA Residential Financing: Smart-E, Solar Lease, CT Solar Loan Training Presentation for Round III PowerPoint Presentation
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CEFIA Residential Financing: Smart-E, Solar Lease, CT Solar Loan Training Presentation for Round III. Agenda. Introduction to Homeowner Financing Options Smart-E Loan CT Solar Loan CT Solar Lease Product Comparison. Solarize. I ntroduction to Financing Products.

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cefia residential financing smart e solar lease ct solar loan training presentation for round iii
CEFIA Residential Financing:Smart-E, Solar Lease, CT Solar Loan Training Presentation for Round III
agenda
Agenda
  • Introduction to Homeowner Financing Options
    • Smart-E Loan
    • CT Solar Loan
    • CT Solar Lease
  • Product Comparison
overview of the financing information
Overview of the Financing Information
  • Pricing Considerations: all data presented herein reflects”
    • Tier 5 (250 kW+)
    • Pricing of $3.40/W, which is an average of the $/W across the six Solarize Round III communities and exclusive of any adders
      • Or a total installed cost of $23,800 (before significant federal and state incentives, and exclusive of adders) for a 7 kW system

5

what are smart e loans
What are Smart-E Loans?
  • Smart-E is a residential loanproduct for CT homeowners with FICO scores ≥ 680* and DTI ≤ 45% to access long-term, low-interestfinancing for energy improvements through participating credit unions and community banks with no money down

* Some participating credit unions and banks will lend to homeowners w/credit scores ≥ 640

smart e lenders
Smart-E Lenders
  • CorePlus FCU
  • Eastern Savings Bank
  • Liberty Bank
  • Naugatuck Savings Bank
  • Nutmeg FCU
  • Patriot National Bank
  • Quinnipiac Bank & Trust
  • Thomaston Savings Bank
  • Union Savings Bank

Note: Approx. availability date for Liberty Bank and Union Savings Bank is end of September 2013

Legend:

Light green – 1 Branch Medium green – 2 Branches Dark green – 3 Branches

smart e 12 year loan annual cash flows
Smart-E 12 Year Loan: Annual Cash Flows

(savings)

Value of ITC essentially covers net payments due over 12 year term

(25 years)

marketing the smart e loan
Marketing the Smart-E Loan
  • Quick, easy, flexible(can finance EE, too, and up to 20% non-energy measures… like roof repair)
  • Local lender, high touch
  • Video online here: www.energizect.com/smarte
  • CEFIA calculator tool to determine best term/rate for each customer
smart e interest rate promotion
Smart-E Interest Rate Promotion
  • For Smart-E Loans, CEFIA is offering a promotional six-month, 0% interest deal for all customers who finance systems using this product
  • For this 7 kW system priced at $3.40/W, this deal is equivalent to a discount of about $535 that you can offer your customers
ct solar loan
CT Solar Loan
  • The CT Solar Loan is a residential loanproduct specifically designed for solar, serving homeowners with FICO scores ≥ 680 and DTI ≤ 45%* with the lowest monthly payments on the road to solar ownership and the greatest long-term return on investment

*FICOs ≥ 720 no DTI limit

ct solar loan annual cash flows
CT Solar Loan: Annual Cash Flows

(savings)

Cash flow positive by year 2 due to lower monthly payments and re-amortization of loan using ITC

marketing the ct solar loan
Marketing the CT Solar Loan

Sungage Physical and On-line Assets

Physical collateral

Sungage.net

Social Media

Solar-Wealth.com

Earned media

Solar Wealth™ Calculator

overview of the ct solar lease residential pv
Overview of the CT Solar Lease (Residential PV)
  • Competitive solar lease program structure:
    • 20-year lease for homeowners with credit scores ≥ 640 and DTI ≤ 45%
    • Escalating payments(2.99% per year) or fixed lease available for higher monthly price
    • No money down*
    • Lease payments can be "bought down" or

"pre-paid"

* If total system cost ≤ $4.50/W

20

overview of the ct solar lease
Overview of the CT Solar Lease
  • Additional benefit to homeowners:
    • Bundled insurance and warranty management from Assurant
      • One-call resolution for all issues
      • Property and casualty coverage
      • Multi-Year Warranty Management Program

21

escalating ct solar lease representative cash flow
Escalating CT Solar Lease Representative Cash Flow

Note: assumes 7 kW system installed at $3.50/W inclusive of $.10/W for extended warranty

ct solar lease annual cash flow
CT Solar Lease: Annual Cash Flow

Immediately cash flow positive

(savings)

(20 years)

marketing the ct solar lease residential pv
Marketing the CT Solar Lease (Residential PV)
  • The “Pitch” for CT Solar Lease
    • Go Solar for no money down*
    • Save on your electric bill from day one
      • And lock in predictable bills for years to come
    • Peace of mind through the life of your lease
      • Insurance and warranty coverage bundled in, just one # to call
      • Warranty coverage for full 20 years even if homeowner buys system
      • Protection even if manufacturer or installer (God forbid!) goes out of business
    • The affordable way to go solar
      • Pay a low fixed or escalated monthly payment – you choose

With the CT Solar Lease it’s never been easier to go solar!

* No down payment require if total system cost ≤ $4.50/W

comparison of financing options
Comparison of Financing Options

Note: for lease, assumes an extra $0.10/W for extended inverter warranty