MICHIGAN SAVES: A NONPROFIT GREENBANK HELPING MICHIGAN RESIDENTS AND BUSINESS
Michigan Saves is a nonprofit organization dedicated to making energy improvements easy and affordable for all types of Michigan energy consumers—businesses, schools, municipalities, and residents. They effectively operate as the nation’s first nonprofit “green bank”, leveraging funds and partnerships from private-sector lenders and energy providers. Solar panel installation is exactly the type of energy improvement that Michigan Saves helps to finance.
Through a trust fund of $6.5 million from the Michigan Public Service Commission, Michigan Saves eliminates the upfront costs of installation and provides a streamlined process for securing financing at preferred rates. To do this, Michigan Saves leverages third-party capital with innovative credit enhancement mechanisms, works closely with energy efficiency and renewable energy system contractors, coordinates with similar programs in the state and across the country, and monitors the program to track results and ensure success. Solar King is a part of this well planned and structured program, helping you meet your solar financing needs.
Since the program's initial funding, it has become fully independent in 2011 and awarded several grants from the State of Michigan and the U.S. Department of Energy to expand on its success. As of December 2019, Michigan Saves has enabled more than $230 million in clean energy financing, and the Governor has proposed a one-time $5 million appropriation to the nonprofit as a testament to its success.
OUR PARTNERS FOR YOUR SOLAR FINANCING NEEDS
Our financing/leasing partners are Michigan Saves (for commercial and residential projects), Admirals Bank (for residential projects) and Curtis Funding Group.
ADMIRALS BANK: A LOCAL RESIDENTIAL LENDER THAT CAN HELP YOU ACHIEVE YOUR SOLAR SOLUTION
Admirals Bank provides non-equity based solar financing for your eligible solar panel installation project. But first, keep in mind that the individual submitting a solar financing loan application to Admirals Bank must be the homeowner that is requesting the solar panel financing. Also, the renewable energy project seeking funding must not yet be started or completed. Admirals Bank does not accept renewable energy loan applications for solar panel installation projects that have been completed or are submitted by third parties.
CURTIS FUNDING GROUP
If financing is not for you, there are also leasing options for commercial solar panels available through the Curtis Funding Group. Contact us with any inquiries and we can lead you in the right direction.
Contact us today to discuss your solar financing options! There is a lot of information out there and Solar King is committed to helping you understand it. Knowledge is power—we can help you achieve the solar panel installation project of your dreams with the right kind of solar financing.
For more information, please contact us at 313-820-4526.