mPOWER or P.A.C.E.(property assessed clean energy) solar financing is an incredible opportunity to receive financing on a Truckee or Lake Tahoe solar project with no money down and no credit checks! Go to www.mpowerplacer.org/about-us/faqs
Who can apply for mPOWER financing? All residential, commercial, industrial, agricultural, or multi-family residential (5 units or more) property owners located in any of Placer County’s incorporated cities or towns, the unincorporated areas of Placer County, or the City of Folsom who receive a secured property tax bill are eligible to apply. The following requirements must be satisfied:
- Applicant must be the legal owner of the property described in the application or have the authority to encumber the property.
- Property taxes are current with no notices of default within the last 3 years.
- The property owner is current on mortgages with no notice of default within the last 5 years.
- The property owner has not been subject to bankruptcy within the last 5 years.
- The property must not be subject to any involuntary liens.
- There are no recorded easements or covenants prohibiting the improvement.
- For non-residential properties, the current mortgage lender(s) has/have given consent for the MPOWER financing.
Advantages of participating in the mPOWER program
- Easy to apply.
- No money down.
- Fixed interest.
- No credit reports are generated and the assessment does not appear on any future credit reports.
- Financing is based on the value of the property not on the applicant’s income.
- Financed amount is repaid on your property tax bill.
- Assessments not yet paid in full may be passed on to a subsequent property owner.