Admirals Bank, a leading national provider of residential renewable energy financing, announces the launch of their Energy Investment Calculator as part of their suite of solar contractor tools. Solar installers nationwide can use this online tool at the kitchen table to accurately estimate and present homeowner monthly payments for their Admirals Bank loan and energy savings, including comparisons to a lease or power purchase agreement.
Providence, RI October 22, 2013
Admirals Bank currently works with hundreds of solar installers across the United States, providing financing to their qualified customers who seek to own their power and solar system.* Homeowners can apply for a loan of up to $40,000 for residential solar systems through Admirals Bank. Admirals has recently reduced the costs associated with its loan products, allowing homeowners to have lower monthly payments and own their solar systems.** The Bank actively participates in educational efforts throughout the country to help homeowners clearly comprehend the advantages of solar ownership. Additionally, Admirals Bank aims to strengthen installers' understanding of the solar financing options available and how leveraging these options can dramatically increase sales.
With the launch of its new online Energy Investment Calculator, Admirals Bank has now considerably simplified the in-home sale of residential solar systems. This online tool easily processes basic customer, system and loan information. Within seconds the tool estimates the 25-year net benefit to the homeowner and presents a detailed comparison of the Admirals Bank loan to a lease or other loan product. Solar installers are able to enter system information based on the designed system size, insolation factor, price per kilowatt and incentive information from their local area. These features enable installers to customize each data analysis to each customer's own unique circumstances, thus further validating the benefit of the solar system to the customer. The Energy Investment Calculator will be on demonstration at the Bank's Booth #1053 during the Solar Power International trade show being held at McCormick Place in Chicago, Illinois from October 21-24.
"Solar installers across the country are searching for innovative, in-home solutions for homeowners that generate the highest electricity costs savings, minimize the cost of capital and maximize monetization of solar tax incentives and rebates. Our Energy Investment Calculator can be easily accessed in the home at the time of sale and shows how the Admirals Bank loan can provide homeowners with the maximum return compared to other popular financing products and energy ownership models," said Ed Steins, Vice President and Director of National Sales, Renewable Energy Lending at Admirals Bank.
Admirals Bank will be showcasing this Energy Investment Calculator at this year's Solar Power International trade show at Booth #1053. Solar financing experts from the Bank will be giving live demonstrations of the calculator and other contractor tools, in addition to explaining the Admirals Bank solar loan programs offered and the advantages of direct ownership.
Mr. Steins continued, "We pride ourselves in creating innovative solutions for the solar installers we work with, as well as the homeowners that are referred to us. Our Bank has many resources to offer the renewable energy industry, and we value opportunities like Solar Power International to showcase our sales tools and financing options."
For more information regarding Renewable Energy Lending provided by Admirals Bank, please visit their Booth #1053 at Solar Power International 2013 in Chicago, IL on October 22-24, 2013. You may also call 800.615.8472 to speak with a Relationship Manager or visit our website http://www.admiralsbank.com/renewable-energy-lending.
About Admirals Bank
Admirals Bank is a federally-chartered financial institution headquartered in Boston, MA with a Regional Banking Center in Providence, RI, and a Renewable Energy Lending Business Development Center in San Francisco, CA. Since 2012, Admirals Bank has focused its home improvement lending efforts in the residential solar and renewable energy industry, opening Admirals Alternatives, the Renewable Energy Lending division of Admirals Bank in April 2013. Admirals Bank also remains a leading national provider of the Title I Home Improvement Loan for a variety of other home improvements. Admirals also offers customers additional borrowing solutions such as Residential Mortgages. Additionally, Admirals Bank is an active acquirer of commercial real estate loans in the secondary market. Admirals introduced Bespoke Banking to the financial industry, which is individually tailored, highly customized, relationship banking, and also provides customers with classic banking options such as checking, savings and money market accounts, which can be conveniently opened and maintained online or via a mobile device. Admirals Bank is an Equal Housing Lender and Member FDIC.
*All loans are subject to credit approval. A prequalification is not an approval. Approvals require the submission of a complete loan application.
**Please contact your local electricity provider or appropriate government representative to check for any federal or local tax credits, upfront government or utility incentives, solar renewable energy credits or other production based incentives in your state or local area. Admirals Bank does not guarantee that a homeowner's monthly loan payment will be less than the savings on his or her monthly energy bill.
The content on this page should not be relied upon as tax or legal advice. Please consult your lawyer or tax preparer regarding residential renewable energy tax credits.