125 North Fulton St. Ithaca, NY 14850
Phone: (607) 273-4611
Toll Free: (877) 273-AFCU      Contact

Solar panel home equity loans

Alternatives FCU offers two affordably priced solar loan products.
  • 15 year adjustable rate 
  • 10 year fixed rate 
Interest only payments are required for the first 18 months. Ample time is allowed for rebates and tax incentives to be applied to the loan balance. After 18 months, principal and interest payments are calculated based on the outstanding balance and remaining term.

Up to 90% of the current appraised value of your home can be borrowed, minus existing liens. No application or closing costs are charged, providing the loan remains open for at least 36 months. 

Requirements for both loans
  • Funds must be used for purchase and installation of solar panels to your primary residence. 
  • A contract for improvements is required.
Please visit our rates page. The 15 year solar loan correlates with the 80% or 90% Home Equity Line of Credit, and the 10 year solar loan rate is the EnergyWise Home Equity loan.

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Laurie and Zoe Hill

Our family's strongest connection to Alternatives started at the Student Credit Union branch at Fall Creek Elementary School. Zoe started as a Saver and I as a Teller five years ago. Zoe is a regular depositor. I started putting money into my savings account on a more regular basis when we realized that it would be a good place to have a vacation account - one we didn't have a debit card or checkbook for. We saved enough for a trip to Zurich to visit friends on sabbatical and then the fast train to Paris.


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