Key features of a Clean Energy Loan:
- Purpose: Specifically for funding renewable energy projects.
- Interest rates: Often lower than traditional loans due to government incentives or lender initiatives.
- Repayment terms: Flexible repayment schedules tailored to the project's cash flow.
- Government incentives: May qualify for tax credits, rebates, or grants.
- Collateral: This may require collateral, such as the property where the renewable energy system will be installed.
Documents typically required:
- Proof of property ownership
- Project plans and cost estimates
- Financial information (income, credit score)