Solar Loans

Solar Energy saving you money and the planet from Class Act solar loan.

Solar Loans

You own your own house, so why not own your own renewable energy too? With Class Act Federal Credit Union Solar Loans, you can finance solar panels for your home to help you save money and save the planet.

Ready to get started on your Class Act Solar Loan? 

Installation of solar panels on home in Louisville Kentucky.

Solar Loan Benefits

• No origination or application fees.

• 60 days no payments.

• No prepayment penalties.

• Use your tax credits to pay on the principal on your loan—which lowers monthly payments.

• Competitive rates, which means lower monthly payments.

 
Term/AmountUp to 84 Months85 - 120 Months121 - 180 Months
$5,000-30,000
$30,001-50,000
5.75 APR*
6.00 APR*
5.95 APR*
5.45 APR*
6.20 APR*
6.45 APR*

*APR = Annual percentage rate. Rates effective as of 09/01/2022 and subject to change without notice. On approved credit. Other rates and terms may apply. Rates shown reflect .25% discount for automatic payment option. Payment example: $25,000 loan amount with a 15-year term at 6.20% would have monthly payments of $214 or $8.56 per $1,000 borrowed. Not available for refinance of existing CAFCU loans.

Federal Renewable Energy Incentives

The Federal Solar Tax Credit, sometime referred to as an Investment Tax Credit (ITC), provides a 26% tax credit for solar systems installed in through 2022, and 22% for systems installed in 2023. You can deduct the percentage of the cost of installation from you federal taxes. There is no maximum amount that can be claimed. The tax credit expires starting in 2024 unless Congress renews it, so if you were considering solar energy before, now is the time to take advantage of it. 

Solar panels on beautiful house in Louisville, Kentucky.

Kentucky Renewable Energy Incentive

Kentucky offers a favorable net metering policy that requires utilities to give you credit for any surplus production from your solar panel system.

 

Indiana Renewable Energy Incentive

Indiana deducts a portion of the cost of installation of solar energy from your state taxes. For more information, contact your county tax office or the Indiana Department of Local Government Finance.

 

Ready to get started on your Class Act Solar Loan? 

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