The waves and wind caused by last year’s ravaging Hurricane Sandy are long gone, but the devastation left in its wake is still painfully evident in some of those towns and coastal areas affected. People are still rebuilding in places like Breezy Point, N.Y. Now the Breezy Point Green Committee has launched the Breezy Solar Bank and partnered with Admirals Bank and EmPower Solar to offer financing opportunities for solar arrays. Under the partnership every homeowner that goes solar through the offering in Breezy Point, Rockaway Point, and Roxbury, EmPower Solar will add $200 to a Breezy Solar Bank project.
The funds will help finance a solar power project at one a community building chosen at a later date by the green committee. The initiative also includes outreach to community members interested in learning more about solar and how their choice can help get even more solar in their community. “The Breezy Point Green Committee developed this initiative to foster the sustainable rebuilding of homes and community buildings affected by Hurricane Sandy,” according to Admirals Bank.
“Our goal is to make solar more attractive and affordable in the Breezy Point Community," said Ed Steins, Director of National Sales for Renewable Energy Lending at Admirals Bank "It is our pleasure to contribute to this momentous initiative and to be a financing resource for these communities.”
Admirals Bank is offering its financing options to homeowners in the region. Under its options, more like a specialized loan designed to take advantage of solar’s long-term benefits instead of home improvement loan or third-party ownership options, Admirals allows homeowners to have direct ownership of the array and gives them a chance get the highest potential return on their investment. The company is offering its non-equity based solar loan programs in the area.
The loans are available for up to $40,000 for a residential solar array. In addition, the loans can also support energy efficiency efforts in the home, including energy efficient windows and doors, water heating, ventilation, insulation, geothermal products, and more. “If re-roofing is required prior to the solar panel installation, this cost can also be incorporated within the loan,” Admirals said. The bank said that leasing programs don’t cover roof repairs or energy efficiency improvements.Tweet