Applicant Credit Review for Commercial Solar Loans
See if You Qualify
All applicants to the Solar Loan Program for Businesses must undergo a credit review.
Once an applicant has been conditionally accepted into the program, PSE&G will evaluate the project from a credit perspective.
Here is what we look at:
- PSE&G will review financial documentation submitted during the solicitation process, including the last three years of financial statements.
- Applicants and host (if applicable) must be in good standing with respect to payment of PSE&G energy bills.
- PSE&G may request additional financial information on an as-needed basis, and applicants are required to respond within the time frame requested in order to maintain their conditional capacity award.
- If credit enhancements are determined to be necessary, the applicant may be required to provide a guaranty from a third party or other security which is acceptable to PSE&G.
- PSE&G will maintain a first-priority lien position on the solar equipment.
- For solar developers for residential-aggregated projects, PSE&G will maintain the right, but not the obligation, to enter into forbearance agreements under commercially reasonable terms with program applicants.
See Credit Requirements below for more detailed information.
