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CEFIA Residential Financing: Smart-E, Solar Lease, CT Solar Loan Training Presentation for Round III

CEFIA Residential Financing: Smart-E, Solar Lease, CT Solar Loan Training Presentation for Round III. Agenda. Introduction to Homeowner Financing Options Smart-E Loan CT Solar Loan CT Solar Lease Product Comparison. Solarize. I ntroduction to Financing Products.

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CEFIA Residential Financing: Smart-E, Solar Lease, CT Solar Loan Training Presentation for Round III

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  1. CEFIA Residential Financing:Smart-E, Solar Lease, CT Solar Loan Training Presentation for Round III

  2. Agenda • Introduction to Homeowner Financing Options • Smart-E Loan • CT Solar Loan • CT Solar Lease • Product Comparison

  3. Solarize Introductionto Financing Products

  4. Which option is right for your customers?

  5. Overview of the Financing Information • Pricing Considerations: all data presented herein reflects” • Tier 5 (250 kW+) • Pricing of $3.40/W, which is an average of the $/W across the six Solarize Round III communities and exclusive of any adders • Or a total installed cost of $23,800 (before significant federal and state incentives, and exclusive of adders) for a 7 kW system 5

  6. Smart-E LoansIntroductionto Smart-E Loans

  7. What are Smart-E Loans? • Smart-E is a residential loanproduct for CT homeowners with FICO scores ≥ 680* and DTI ≤ 45% to access long-term, low-interestfinancing for energy improvements through participating credit unions and community banks with no money down * Some participating credit unions and banks will lend to homeowners w/credit scores ≥ 640

  8. Smart-E Lenders • CorePlus FCU • Eastern Savings Bank • Liberty Bank • Naugatuck Savings Bank • Nutmeg FCU • Patriot National Bank • Quinnipiac Bank & Trust • Thomaston Savings Bank • Union Savings Bank Note: Approx. availability date for Liberty Bank and Union Savings Bank is end of September 2013 Legend: Light green – 1 Branch Medium green – 2 Branches Dark green – 3 Branches

  9. Smart-E Loan Representative Cash Flow

  10. Smart-E 12 Year Loan: Annual Cash Flows (savings) Value of ITC essentially covers net payments due over 12 year term (25 years)

  11. Marketing the Smart-E Loan • Quick, easy, flexible(can finance EE, too, and up to 20% non-energy measures… like roof repair) • Local lender, high touch • Video online here: www.energizect.com/smarte • CEFIA calculator tool to determine best term/rate for each customer

  12. Smart-E Interest Rate Promotion • For Smart-E Loans, CEFIA is offering a promotional six-month, 0% interest deal for all customers who finance systems using this product • For this 7 kW system priced at $3.40/W, this deal is equivalent to a discount of about $535 that you can offer your customers

  13. CT Solar LoanIntroductionto the CT Solar Loan

  14. CT Solar Loan • The CT Solar Loan is a residential loanproduct specifically designed for solar, serving homeowners with FICO scores ≥ 680 and DTI ≤ 45%* with the lowest monthly payments on the road to solar ownership and the greatest long-term return on investment *FICOs ≥ 720 no DTI limit

  15. Overview of Solar Loan:

  16. CT Solar Loan Representative Cash Flow **Assumes no dealer fee

  17. CT Solar Loan: Annual Cash Flows (savings) Cash flow positive by year 2 due to lower monthly payments and re-amortization of loan using ITC

  18. Marketing the CT Solar Loan Sungage Physical and On-line Assets Physical collateral Sungage.net Social Media Solar-Wealth.com Earned media Solar Wealth™ Calculator

  19. CT Solar LeaseIntroductionto the CT Solar Lease

  20. Overview of the CT Solar Lease (Residential PV) • Competitive solar lease program structure: • 20-year lease for homeowners with credit scores ≥ 640 and DTI ≤ 45% • Escalating payments(2.99% per year) or fixed lease available for higher monthly price • No money down* • Lease payments can be "bought down" or "pre-paid" * If total system cost ≤ $4.50/W 20

  21. Overview of the CT Solar Lease • Additional benefit to homeowners: • Bundled insurance and warranty management from Assurant • One-call resolution for all issues • Property and casualty coverage • Multi-Year Warranty Management Program 21

  22. Escalating CT Solar Lease Representative Cash Flow Note: assumes 7 kW system installed at $3.50/W inclusive of $.10/W for extended warranty

  23. CT Solar Lease: Annual Cash Flow Immediately cash flow positive (savings) (20 years)

  24. Marketing the CT Solar Lease (Residential PV) • The “Pitch” for CT Solar Lease • Go Solar for no money down* • Save on your electric bill from day one • And lock in predictable bills for years to come • Peace of mind through the life of your lease • Insurance and warranty coverage bundled in, just one # to call • Warranty coverage for full 20 years even if homeowner buys system • Protection even if manufacturer or installer (God forbid!) goes out of business • The affordable way to go solar • Pay a low fixed or escalated monthly payment – you choose With the CT Solar Lease it’s never been easier to go solar! * No down payment require if total system cost ≤ $4.50/W

  25. Comparison of Financing Options Note: for lease, assumes an extra $0.10/W for extended inverter warranty

  26. Questions / Comments

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