Cape Fear Solar Systems Introduces A New Solar Financing Option For Customers

Many homeowners refinance their homes to receive a lower interest rate or better loan terms. Cape Fear Solar Systems is now working with mortgage lenders to allow their customers the option to refinance and include their solar projects. Before making this mortgage refinancing an option for solar customers, Cape Fear Solar first tested the process with one of their own employees who was ready to add solar on his home.

“I bought my home two years ago with the intention of adding solar panels. This has been a dream of mine since I started working in the solar industry,” stated Robert Parker, senior project manager for Cape Fear Solar Systems. “I noticed mortgage rates were dropping and inquired about refinancing to include my solar project. The mortgage lender worked with me, and my interest rate is now lower by a whole percent point. I was able to add the cost of my solar panels directly into the loan,” he added. “My monthly mortgage payments are now slightly higher, but I was cash positive on day one with the amount of money I’m saving on electric cost, not to mention I am looking forward to claiming the 26% Federal Solar Tax Credit,” concluded Parker.

Haley Pope (left) and Robert Parker (right) are all smiles as they stand in front of their solar powered home located in Wilmington, North Carolina.

There has been some recent attention to the housing market and that includes consumers taking notice of mortgage loan rates dropping. Consumers living in Southeastern, North Carolina can now contact Cape Fear Solar Systems to be connected with an experienced solar-friendly mortgage lender. Solar customers that are not interested in refinancing their mortgage have many other attractive financing options which include as little as zero down and various terms up to 20 years.

As area residents continue to stock up on essentials, such as food, water, and toilet paper—Cape Fear Solar Systems expects an increased demand for solar energy too. “These are uncertain times, so homeowners want to make sure they keep power in the event the grid experiences any outages,” explained Gabe Amey, Brunswick County’s residential solar project developer for Cape Fear Solar.  Amey went on to say, “Hurricane season is looming near and financing options such as mortgage refinancing make solar affordable for everyone, so solar demand is currently high.”   

Cape Fear Solar Systems is now offering free virtual solar consultations to support “social distancing” efforts. To schedule a solar consultation, call (910) 409-5533 or click here.