The new Earthwise loan program aims to make clean energy more accessible

TUCSON, Ariz. (KGUN) – Lower income communities are less likely to adopt rooftop solar systemsaccording to a study by the Department of Energy.

As demand for renewable energy rises, a new program called Earthwise is paving the way for Arizona homeowners to access environmentally friendly home improvements, such as rooftop solar, without the traditional financial burden.

Launched in October by Groundswell Capital, Earthwise provides collateral-free loans for a range of sustainable projects, from solar panels, HVAC systems, lighting to water collection systems and more.

“It solves a lot of the pain points that keep people from financing solar, purchasing a new HVAC system, and weatherizing their home,” said Nic Dahl, vice president at Groundswell Capital. “These are all things that lower their energy bills.”

Dahl’s personal experience inspired the program. After installing solar panels on her home with the help of a local credit union a few years ago, the company responsible for the installation went bankrupt, leaving her family with no one to maintain the panels.

“Numerous people in Southern Arizona were left behind on the loan,” Dahl explained. “The money had already gone to the contractor, but without solar panels, or panels that were 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 work with local contractors, such as Tucson-based Sonoran Eco Solutions, a full-service solar company.

“The vetting process is thorough,” Dahl said. “If you get a loan through Earthwise, you get to work with a contractor who is reliable, who has a good reputation, who does good work.”

Partner companies like Sonoran Eco Solutions strive to make these sustainable upgrades both ethical and affordable.

“If we can do something that is fair and ethical, and we find the best product at a reasonable price, it makes a big difference,” said Moises Gomez, CEO of Sonoran Eco Solutions. “It’s definitely a good opportunity for individuals who may not be able to finance through other companies to take advantage of this option.

Gomez was impressed with Earthwise’s vetting process because it showed how deeply the program cares about the long-term well-being of borrowers.

“There were some really good requirements that they asked for as a business owner, to make sure that we were licensed, that we were insured and bonded,” Gomez said. “It was really focused on taking care of the people who will benefit from using this loan.”

In addition to offering reliable contractor partnerships, Earthwise also offers affordable interest rates ranging from 5% to 9.99%, with a special focus on veterans, seniors, people with disabilities, and women-led households.

Those with low credit scores can also receive special rates, a reversal of the typical credit scenario where low credit scores mean higher interest rates.

The loans also cover manufactured homes, which are typically excluded from 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 things.

More details about the program and registration information can be found at Groundswell Capital website.