TUCSON, Ariz. (KGUN) — Lower-income communities are less likely to adopt rooftop solar systems, according to a Department of Energy study.
As the demand for sustainable energy rises, a new program called Earthwise is paving the way for homeowners in Arizona to access eco-friendly home improvements like rooftop solar without the traditional financial burdens.
Launched by Groundswell Capital in October, Earthwise provides no-collateral loans for a range of sustainable projects, from solar panels, HVAC systems, lighting to water harvesting systems and much more.
“It solves a lot of pain points that hold people back from financing solar, from getting a new HVAC system, from weatherization their home,” said Nic Dahl, Vice President at Groundswell Capital. “These are all things that reduce their energy bills.”
Dahl’s personal experience inspired the program. After installing solar on her home a few years ago with the help of a local credit union loan, the company responsible for the installation went out of business, leaving her family with no one to maintain the panels.
“Numerous people in Southern Arizona were left with the loan,” Dahl explained. “The money had already gone to the contractor but without solar panels, or panels partially installed or without anyone to maintain them.”
This experience led Dahl to create Earthwise to protect others from similar experiences.
Earthwise uses a “thorough” vetting system to partner with local contractors, such as Tucson’s Sonoran Eco Solutions, a full-service solar company.
“The vetting process is thorough,” Dahl said. “If you get a loan through Earthwise, you’re going to work with a contractor that’s reliable, that has a good reputation, that does good work.”
Partner companies like Sonoran Eco Solutions are committed to making these sustainable upgrades both ethical and affordable.
“If we’re able to come in and do something that’s honest, ethical, and we’re finding the best product at a reasonable rate, that makes a big difference,” said Moises Gomez, CEO of Sonoran Eco Solutions. “It’s definitely a good opportunity for individuals who may have not been able to finance through other companies to have this option.
Gomez was impressed with the Earthwise vetting process, as it showed how the program cares about the long-term wellbeing of borrowers.
“There were some really good requirements that they ask for as a business owner, making sure that we’re licensed, that we’re insured and bonded,” Gomez said. “It was really focused on taking care of the people that will be taking advantage of utilizing this loan.”
In addition to providing reliable contractor partnerships, Earthwise also offers affordable interest rates, ranging from 5% to 9.99%, with special considerations for veterans, seniors, people with disability and female-led households.
Those with low credit scores can also receive special rates, a reversal of the typical lending scenario where low credit scores mean higher interest rates.
The loans also cover manufactured homes, which are typically left out of similar loan programs.
Groundswell Capital is currently accepting applications for the Earthwise program. To qualify, applicants must own a home in Arizona and be current on their property taxes, among other qualifications.
More details about the program and application information can be found on the Groundswell Capital website.
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Joel Foster is a multimedia journalist at KGUN 9 who previously worked as an English teacher in both Boston and the Tucson area. Joel has experience working with web, print and video in the tech, finance, nonprofit and the public sectors. In his off-time, you might catch Joel taking part in Tucson's local comedy scene. Share your story ideas with Joel at joel.foster@kgun9.com, or by connecting on Facebook, Instagram or X.
