By owning your system with the EmpowerLoan™, you receive the significant financial benefits of ownership.
Take back the power
- $0 down loan
- Energy savings from day 1
- You receive the tax benefits
- Invest in your home
- No pre-payment penalties
We've got you covered
- Full service offering
- Performance guarantee
- System warranty
- Real-time monitoring
- Installer quality assurance
Say goodbye to paperwork
- Instant credit decision
- Streamlined process
- Online loan execution
- Automated payments
- No lien on your home
- Secure vs. Unsecured
- Home Equity Lines of Credit (“HELOCs”) are typically secured loans, which use your home as collateral and could lead to a foreclosure in case of default. In contrast, Dividend’s EmpowerLoan is secured only by the solar energy system and does not require a lien on your home.
- Financing Only vs. Full-Service
- Loan Product While a HELOC may provide a lower interest rate in some cases, you often have to pay out-of- pocket for any maintenance issues that may arise. Dividend’s EmpowerLoan includes 20 years of maintenance and warranty management, along with a production guaranty and monitoring at no additional cost.
- Application & Approval Process
- The process of securing a HELOC can be similar to taking out a second mortgage on your home, with significant time and paperwork required to apply. Dividend’s EmpowerLoan approval process can take less than 5 minutes, with no required paperwork and instant credit pre-qualification
- HELOC as an Emergency Fund
- Homeowners often reserve HELOCs for potential emergencies as a “rainy day” fund. By using a HELOC to finance your solar energy system, you may lose a useful lifeline for unforeseen events in the future and may need to use a more expensive source of financing.
- Floating vs. Fixed Rates
- Most HELOCs are floating rate loans with interest rates that change in-line with a public market interest rate. As market interest rates are currently at historically low levels, the rates on a HELOC are likely to rise over time. In contrast, Dividend’s EmpowerLoan offers one low, fixed rate.
- $0-Down vs. Large Cash Purchase
- The EmpowerLoan is a $0-down loan that requires no down payment, allowing you to hold on to your money. By choosing to finance your system, you can invest your cash in opportunities with potentially higher returns or spend it in other ways. In addition, there are no prepayment penalties so you can always pay off your loan sooner if you choose.
- Full-Service Loan with Comprehensive Benefits
- The EmpowerLoan offers a full suite of benefits that cash purchases normally do not. With system maintenance, performance guarantees, warranty management, and production monitoring all included with the EmpowerLoan, you never have to worry about your system. In a cash purchase, you may have to pay out-of-pocket in case of system malfunctions and may not be guaranteed against under performance.
- Positive Credit Impact
- By financing your system with the EmpowerLoan, you can build a consistent track record of on-time payments and improve your credit score. Homeowners with stronger credit profiles receive a wide range of benefits, and typically qualify for lower interest rates on mortgages, car loans, and other re-financings. With a cash purchase, your credit score is not positively impacted.