For many homeowners, solar makes financial sense. Lower electric bills, predictable energy costs, and long-term savings are all compelling reasons to install solar panels.
But financing options can sometimes make the decision more complicated.
Traditional solar loans often require homeowners to claim the federal solar tax credit themselves — and if you miss that opportunity, the economics of solar can change. A new program called Propel is designed to make solar ownership easier and more flexible.
A Different Path to Solar Ownership
Propel is a transitional ownership solar program.
Instead of immediately owning the system through a traditional loan, homeowners start with a services agreement and a predictable monthly payment. During this initial phase, the system is protected by built-in performance guarantees and maintenance coverage.
After five years, ownership transfers to the homeowner. This structure provides the benefits of solar today while offering a clear path to ownership in the near future.
Built-In Savings Without the Upfront Complexity
One of the most unique aspects of the Propel program is how it simplifies the financial side of going solar.
In a typical solar loan, homeowners often need to manage incentives and maximize their financial benefits on their own. But not every homeowner is able to take full advantage of those savings.
With Propel, a portion of the system’s value — approximately a 28% reduction in overall project cost — is built directly into the program structure. This helps lower the effective cost of going solar while keeping the process simple and accessible.
More Protection Than a Typical Solar Loan
The program also includes several built-in protections during the early years of the system, including:
- A five-year performance guarantee
- Operations and maintenance coverage
- Installation workmanship warranty
- Roof penetration protection
- Long-term system monitoring
These protections help ensure the system performs as expected during the first years of operation.
Currently Available in Maine
The Propel program is currently available to homeowners in Maine starting March 9th, with plans to expand to other states in the future.
For homeowners who want solar but prefer a more flexible financing path, programs like Propel offer another way to start generating clean energy — while planning for long-term ownership.
Interested in learning if Propel is available for your home?
Schedule a free consultation with New England Clean Energy to explore your options!
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