hawaii solar financing through GEMS


The Green Energy Market Securitization Program (GEMS) provides low-cost capital to finance solar photovoltaic systems and other clean energy improvements for those who may otherwise have difficulty obtaining financing for these projects. Low-credit homeowners and renters, as well as nonprofits are among those who will qualify for project financing through GEMS.

Why is GEMS Good for Homeowners?

GEMS offers homeowners the opportunity to save on energy costs with a GEMS-sponsored loan that provides:

  • Ability to own your solar system
  • Immediate bill savings, day one
  • No down payment, 100% financing
  • 20-year fixed rate
  • Flexible underwriting guidelines

How it Works:

You obtain a GEMS-sponsored loan from WECC Energy Finance Solution. The proceeds from this loan will be used to pay for the entire cost of the solar system. You are responsible for repaying the GEMS sponsored loan, which are fixed monthly payments with no increases or escalators. You are also able to take the state and federal tax credits, which may be used to pay down the loan.

Obtain a Loan Even With a Low Credit Score

One of the things that sets GEMS apart from many other financial institutions is the abilty to secure a loan even if you have a low credit score. Below is a chart that gives an estimate of interest rates for various credit scores:

FICO SCORE 700 + 675-699 650-674 620-649 600-619
INTEREST RATE 6.500% 6.875% 7.625% 8.500% 9.875%

To get an accurate quote and see if you qualify for this or any other financial programs, contact Haleakala Solar today and a professional solar consultant will be in touch shortly.

GEMS is a great program that allows those previously wanting to get solar, but couldn’t due to the inability to obtain financing, the opportunity to secure a loan. Now, homeowners with low credit scores, renters, as well as nonprofits might be able to get solar and save money just like thousands of others in Hawaii.

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