Home Solar Loan offering brings BlueWave’s proven loan product to Ocean State Homeowners
Boston, MA – September 7, 2017
BlueWave Solar (“BlueWave”) of Boston, MA, a solar fintech and community solar company, announced the Rhode Island launch of its premier Home Solar Loan today. This product offers Rhode Island homeowners up to $100,000 in financing for their home solar system with 12 and 15-year term options and an 18-month interest-only period.
BlueWave’s Home Solar Loan is the result of a partnership with Avidia Bank of Hudson, MA, one of the fastest-growing regional banks in the Northeast. With Avidia, BlueWave launched the Home Solar Loan in Massachusetts in January of 2016, followed by offerings in North Carolina and South Carolina also in 2016.
Applying for a solar loan has never been easier. BlueWave’s preferred partner network includes a list of select local Rhode Island solar installers who are now offering the Home Solar Loan throughout Rhode Island. These installers work with homeowners using BlueWave’s Solar Loan Portal, making it easy and secure for customers to sign up and get approved for solar financing. Qualified applicants are approved within minutes and the entire loan application and contract execution happens online.
“We are thrilled to be launching BlueWave’s Home Solar Loan in our neighboring state of Rhode Island,” said Trevor Hardy, BlueWave’s CEO. “We’re working with a network of local solar installers to bring this product to communities throughout the state and will be helping our customers reap the maximum benefit from their decision to go solar. Our focus is to make the financing part of the solar experience as seamless as possible for both the customer and the installer.”
“By partnering with BlueWave, we see an opportunity to help individuals, families and businesses lower energy costs by improving their access to alternative energy sources in the form of solar power,” said Mark O’Connell, Avidia Bank’s President and CEO. He added, “We believe the Home Solar Loan is a great option for homeowners and we are eager to be part of BlueWave’s expansion into Rhode Island.”
Rhode Island’s Renewable Energy Growth and Solar Rebate programs offer residents substantial incentives for investing in rooftop solar systems. This, combined with the Federal ITC have made Rhode Island a top U.S. state for solar development.
Look for announcements on our further expansion of the Home Solar Loan when BlueWave launches this product in other states later this year.
Managing Director – External Affairs
Telephone: (508) 858-7123
About BlueWave Solar
BlueWave Solar is a renewable energy company founded on a mission to make solar available to everyone, everywhere. BlueWave’s proprietary fintech platform delivers innovative, high-value products and services to its partners and customers, enabling communities and consumers to choose local, low-cost renewable power. From developing high-quality solar projects that allow customers to participate in BlueWave Community Solar, to financing residential rooftop solar with the BlueWave Home Solar Loan, BlueWave empowers its partners and installers to deliver a seamless home solar solution. That’s the BlueWave vision for a cleaner planet and our energy solution for the “100%.”
BlueWave has developed and built more than 100 megawatts of solar projects to date, delivering over $275 million dollars in estimated lifetime savings to our customers while reducing CO2 by 98,000 metric tons annually – the equivalent of taking 19,000 cars off the road. We work with more than 30 public entities and 1,000 community solar customers. In addition, through the Home Solar Loan program BlueWave has financed more than 650 rooftop solar systems since early 2016.
BlueWave is a Certified B Corporation and was recently recognized as one of the fastest growing private companies in the US by the Inc. 5000 and the Boston Business Journal. Visit us at bluewavesolar.com to learn more. For more solar and BlueWave news follow us on social media.
About Avidia Bank
Avidia Bank provides state-of-the-art electronic banking capabilities to businesses and consumers across Central Massachusetts through online access and full-service branches. Avidia Bank is a $1.3 billion bank, headquartered in Hudson, MA with branches in Hudson, Westborough, Clinton, Leominster, Marlborough, Northborough and Shrewsbury. Visit us at avidiabank.com and follow us on social media including Twitter, Facebook and LinkedIn.