Fund Your Kit: Step by Step Application Guide

A plug-in solar kit is one of the simplest ways to start making your own power, and we think paying for one should be just as easy. That’s why we partnered with Clean Energy Credit Union, a non-profit credit union that only makes clean energy loans. Through them, you can fund your kit with an unsecured Green Home Improvement Loan and spread the cost over time instead of paying for it all at once.

This guide walks you through the online application step by step.

In this guide:

What do I need before I start?

  • Know your kit price plus sales tax. That is the loan amount to enter (minimum $1,000).
  • Plan on 10 to 15 minutes. The loan portal clears what you entered after 15 minutes of inactivity, so it is best to finish in one sitting.
  • Have your personal details handy for the application questions

What discounts can I get?

  • CECU offers rate discounts on loans of 2 years or more. Residents of Maryland, Montgomery County, Maryland, New York, and Bloomington, Indiana each qualify for a 0.50% discount. Borrowers with lower incomes or credit challenges may qualify for 0.50% or 1.00% off through the Clean Energy for All program, depending on financial history. Only one discount program applies per loan, so the discounts do not add together.
  • You do not need a separate application. CECU says the application asks whether you would like to be considered for its discount programs. Say yes, answer a few optional qualifying questions, and if you qualify your rate reflects the discount.

What are the five steps?

Step 1: Open the application and choose Clean Energy Loans. Go straight to Clean Energy Credit Union's online application and choose Clean Energy Loans. That button covers home improvement loans, which is where a plug-in solar kit fits.

Screenshot of the Clean Energy Credit Union online application start screen with the Clean Energy Loans button circled

Step 2: Tell CECU about your loan. Choose Unsecured Green Home Improvement, enter your kit price plus sales tax, and pick your term. CECU's published Green Home Improvement terms are 3, 5, 7, and 10 years. The example picks 84 months (7 years). A longer term spreads the cost into lower monthly payments, and you pay more interest overall. At CECU’s current lowest 7 year rate, a $2,000 loan works out to about $32 a month, or about $2,700 in total over the life of the loan. Your rate depends on your credit, so your payment may be higher. (The $2,000 amount is only an example. Enter your own kit price plus sales tax.)

Screenshot of the loan details screen with Unsecured Green Home Improvement selected, an example $2,000 amount and 84 month term filled in, and Continue circled

Step 3: Tell CECU about your project and list OwnWatts as your dealer. For "Tell us about your project," just put your kit's product name. Answer the automatic payment question (your choice; Yes gets you the 2.00% rate discount that CECU's published rates already include) and enter 0 for the down payment if you are not making one. Then enter info@myownwatts.com for the dealer email and OwnWatts for the dealer name (that is us, the reseller of your kit), so we can help coordinate payment for your kit. Enter your county (Maryland residents may qualify for a discounted rate; see What discounts can I get? above) and answer the debt protection question. Click Continue to move on.

Screenshot of the project questions with example entries for project description, automatic payment, and down payment

Screenshot of the dealer and county questions with info@myownwatts.com and OwnWatts filled in as the dealer

Step 4: Fill in your personal details. The next screen asks about you: your name, date of birth, SSN, ID, address, contact information, and income. Fill in your own details here (the screenshot uses made-up example entries).

Screenshot of the personal information form with made-up example entries

Step 5: Review and submit your application. From here, review your entries and submit the application.

Congrats! You just took a meaningful step to owning your power.

Pre-approval can be instant and full processing can take as little as 3 days. After approval, borrowers join the credit union: $5 in a savings account, and if you are not otherwise eligible, CECU can sign you up for a free Solar United Neighbors membership. Once your loan is approved, Clean Energy Credit Union coordinates with OwnWatts so there's no upfront payment from you. If you bought your kit already, the loan reimburses you instead.

What else should I know?

  • The loan has no prepayment penalty and no processing fee.
  • The minimum loan is $1,000. Looking at one of our smaller kits? If there’s money left over from the loan after you buy the kit, you can pay it back right away.
  • Questions about the loan: visit Clean Energy Credit Union, call 720-479-7900, or email info@cleanenergycu.org. 
  • Questions about kits: email info@myownwatts.com.