Solar Loan Program Manual

Loan Requirements


  • Up to $35,000 for the purchase and installation of grid-tied Distributed Energy Resource (DER) systems, including distributed renewable solar photovoltaic systems and/or grid-tied battery storage systems installed by a qualified vendor.
  • The loans have a competitive interest rate and we utilize the simple interest loan amortization calculation model.
  • Repayment of loan is ten (10) years or less. There will be no penalty for loans paid in full before 10 years.
  • Program offered to FKEC residential and commercial members only.
  • Loan payments will be included on and payable with the Members monthly electric bill.
  • Electric service must remain in the name of the member(s)/property owner(s) for the duration of the loan.

Program Criteria

To participate in the FKEC Solar Loan Program, members must meet the following criteria:

  • Must be a FKEC member with a minimum 12 month billing history.
  • For residential service, during the most recent 12 consecutive months of electric service:
    • the member is not late in paying a bill;
    • the member does not have service disconnected for nonpayment; and
    • the member does not have any returned checks.
  • For commercial service, during the most recent 24 consecutive months of electric service:
    • the member is not late in paying a bill;
    • the member does not have service disconnected for nonpayment; and
    • the member does not have any returned checks.
  • Member must own the property where the system will be installed and maintain the electric account in their name for the duration of the loan.
  • Member must agree to comply with all City or County building codes and permitting processes.
  • The DER must meet all FKEC interconnection standards: FKEC Solar Interconnectivity
  • Financing on all grid-tied DER systems is contingent on final approval of installation and approved interconnections with FKEC.
  • All joint members must authorize appropriate loan documentation.
  • Only one loan per account until expiration of any existing loan with FKEC.
  • Application fee will be collected upon billing submission of FKEC Solar Loan Program application (PDF) and is not refundable regardless of whether or not the loan is obtained through FKEC.
  • A UCC filing fee, Florida Documentary Stamp Tax fee, and a document preparation fee will be collected upon execution of the loan documentation and closing of the loan.
  • FKEC reserves the right to inspect and approve all installations prior to close of loan and installation of the cooperative’s bi-directional meter.

FKEC Solar Loan Program Fees

An FKEC representative will contact the participating member throughout the application process to collect the fees listed below. All fees must be paid prior to final loan approval.

  • Application Fee: $25.00 – non-refundable and due with the application
  • UCC Filing fee: $70.00 for individual or $80.00 for joint memberships – due at loan signing
  • Florida Documentary Stamp Tax – $.35 per $100.00
  • Document Preparation: $50.00 – due at loan signing
  • Late fee will follow FKEC Policy Bulletin No 209.0, paragraph 8 , for Delinquent Bills and Penalties and paragraph 9 for Disconnect Notice & Disconnect Procedure

Interest Rate

Interest rates may vary from month to month so please contact Member Service for the current interest rate.

Collection and Repayment Guidelines

Collection Standards

In case of delinquencies, any payment or partial payment by member goes first to the costs of interest and principal of the loan, then to the electric service bill(s).

Repayment Guideline

After approval of installation by FKEC and closing the loan, member’s bill will include two line items titled Solar Loan Principal and Solar Loan Interest for repayment of the loan through monthly installments. Monthly payments by member go first to the cost of interest and principal of the loan, then to the electric bills.

Participation Process

Step 1: Contact FKEC Member Service to determine eligibility

The member will contact FKEC Member Service to verify that billing history meets program requirements. The FKEC Administrator will review the following:

  • FKEC Membership
  • Billing History
  • Property ownership

Note: Member must maintain a clean billing history during the entire loan process. FKEC reserves the right to refuse or deny any loan request.

Step 2: Schedule a site assessment with a qualified solar installer

  • Discuss location of desired solar PV system
  • Assess shading concerns and determine appropriate orientation
  • If desired location is on the roof, the advisor will review the roof condition
  • Obtain written estimate(s) from solar contractor(s)

Step 3: Complete the FKEC Solar Loan Program application and remit the non-refundable application fee

Once you have selected a contractor you will be ready to complete the Solar Loan Program application (PDF) and submit to FKEC along with:

  • the non-refundable $25.00 application fee (make check payable to FKEC)
  • a copy of the signed contract from your chosen solar contractor

Step 4: FKEC will review the application and notify the member of approval or denial based on the program criteria and eligibility

If the program criteria are met, a letter of approval will be sent notifying the member to proceed.

If any of the program criteria are not met, a letter of denial will be sent notifying the member of the denial.

Step 5: Submit your solar plans to FKEC for review

FKEC must review and approve plans for ANY construction project that involves electricity before the appropriate city or county building department will accept the plans into permitting.

The solar contractor will submit a set of plans for review by our Engineering Department along with the following documents:

Once the review process is complete and the plans are approved, we will let the contractor know they can be picked up for submittal to the appropriate city or county building department to obtain the necessary permit(s) to proceed with the installation.

Step 6: Final Inspection, Installation of the bi-directional meter and funding the solar loan

The solar contractor will schedule an electrical inspection after the installation is complete. If approved, the Electrical Inspector MUST either sign the FKEC Interconnection Application and Compliance Form or provide us with a copy of the approval letter. Please submit the completed form to

Upon receipt of the completed form or letter, FKEC personnel will perform an inspection of the system and proceed with the installation of a new bi-directional meter.

An FKEC representative will prepare the funding documents to be signed by the member(s) at closing:

  • Truth In Lending Disclosure Statement
  • Promissory Note & Security Agreement
  • Amortization Schedule

Step 7: Repay the loan on your monthly electric bill

If the member(s) meet all the program requirements and passes final inspection of the installation, the member(s) will receive funding. Loan repayments will be indicated on the member’s monthly electric bill as 2 separate line items (Solar Loan Principal and Solar Loan Interest).

Program Contact Information

Questions? Please contact FKEC’s Member Service Department 305-852-2431 or