Sunbanc 6kW Install

Janis and Jim have wanted to “go solar” for a long time. They live in Redding, one of the sunniest towns in California. For them, the upfront cost of going solar was just too high and taking out a loan from big banks was expensive.
Sunbanc Roof Install
Location
Redding, CA
United States
Total Size
5.94kW
Type
Installed
11/2016
Project Description

We created Sunbanc to provide a new way for residential customers to go solar by connecting crowd capital to homeowners. Solar-goers like Janis and Jim receive a loan that benefits them the most, and the crowd (people like you and me) get a meaningful return on investment. Sunbanc, in partnership with CivicSolar, enabled Janis and Jim to go solar on their terms at a lower cost. Now, their neighbor is going-solar with Sunbanc too! You can check out Sunbanc’s funded projects HERE.

Sunbanc has two sets of customers - installers/ solar customers and “the crowd” (everyday people) who invest in solar projects. The benefits of Sunbanc for these groups are:

Installers/ Solar customers

  • Custom loans designed to benefit solar customers. Sunbanc loans are on average 10 year terms to make sure solar customers save on day one.

  • Lower cost of capital than alternative loan options. On average, Sunbanc interest rates are around 4 to 7%.

  • Sunbanc collects a one-time 10% fee to the homeowner, which is currently lower than market rate. There are no hidden fees - Sunbanc believes cost transparency is important.

  • Funding raised is from real people. All the interest solar customers pay goes to the crowd who invested in the customer’s project, spreading the profit throughout the community.

The crowd (everyday people investing in solar)

  • Stable and predictable returns on investment (4 to 7% interest), this return beats what most see in their savings account.

  • Short to medium term investment opportunity (5 to 15 years)

  • The crowd knows exactly how money is being used:to help people go-solar.

With the help of real people, Janis and Jim now get the majority of their electricity from solar and they couldn’t be happier. Sunbanc is looking for more projects to fund and if you would like to work with us, please contact Sunbanc at visrin@sunbanc.co. For more information on Sunbanc, visit www.sunbanc.co. ​