Clean Energy Loan

Finance the purchase and installation of your residential clean energy system

Loans from $1,500 - $70,000*
0.00%
Initial period for 24 months

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Download Application  |  Consumer Loan Fee Schedule

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Use this Hawaiian Electric Locational Value Map to see if an area is available to connect solar power to the grid

Product Features & Benefits

  • 5.069% APR

  • Loans From $1,500 to $70,000*

  • 0.00% initial period for 24 months

  • No payments during the first six months followed by monthly principal-only payments of 0.50% of principal for months 7 to 24 (initial period)*

  • After initial period, principal and interest payment period for 96 months at a fixed rate

  • No prepayment penalty

  • Free Online Banking with eStatements

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Clean Energy Document Checklist

Use this helpful checklist to prepare for your loan application

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Product Guide

Additional product information and what you need to know

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Common Questions:

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How to Deal With the Financial Impacts of a Job Loss or Pay Cut

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Your Money During Turbulent Times
 

As economic concerns over COVID-19 continue to grow, you might find yourself wondering if a bank account is the best place to keep your cash. When...

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Navigating Financial Hardship During COVID-19

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* The Clean Energy Loan (loan program) is subject to borrower qualification and underwriting guidelines. The initial interest rate is 0.00% for the 24-month initial period followed by a fixed term and rate for 96 months. Loan program is subject to change or cancellation without notice. Loan terms, interest rate and APR (annual percentage rate) for qualified borrower(s) will be based on borrower credit worthiness. 50% of the loan amount is disbursed to the borrower’s ASB checking account and 50% of the loan amount is disbursed to the contractor at loan closing. Based on a loan amount of $25,000 and an initial term (24-months) at an interest rate of 0%, there are no monthly payments ($0.00) during the first 6 months of the initial period followed by monthly principal-only payments from $125.00 which is equal to 0.50% of the loan amount in month 7 to 24 (18 months in the initial period). Then, 96 months of fixed principal and interest payments of $321.50 (based on a fixed interest rate of 7.99%). The interest rate used in the example is as of 02/01/2021 and results in a 5.069% APR. Please refer to the current Loan Rate sheet or call us for current rates. Available only for financing the purchase, installation, and other eligible costs associated with the purchase/installation of a qualified residential clean energy system from a participating contractor. Qualified systems are residential photovoltaic (PV), solar water heater, solar PV water heating systems, solar air conditioning, and battery backup/storage systems. Rates are subject to change at any time without prior notice.

ASB does not perform due diligence or does not make representations or warranties on third-party, participating or non-participating contractors, and qualified residential clean energy systems. Borrower should take reasonable steps to review third parties and systems.