Rocket’s new loan option will be available to anyone who has a solar loan, including private loans and Property Assessed Clean Energy (PACE) loans. In addition, homeowners who refinance will still receive federal solar Investment Tax Credit (ITC) and may qualify for other local tax credits.
The company also said it had developed a new platform, wherein homeowners can access their refinancing options. Rocket has also formed a group of so-called solar advisors to help clients determine if solar panels are the best choice for their homes. Once the financing is sorted out, they will then facilitate the installation of the solar panels.
“Rocket Companies is uniquely positioned to build trust and education in solar energy, simplifying the entire process through our platform. We have the technology and expertise to provide the best experience possible for homeowners who want to go green,” said Jay Farner, vice chairman and CEO of Rocket Companies. “This is a perfect synergy between our businesses as we develop a digital solution to ensure Americans can receive solar panels with the same certainty they have come to expect when working with our Rocket platforms.”
Rocket will start the testing phase in the fourth quarter and expects to release the platform and product in early 2022.