GoGreen On-Bill Financing

First Southwest Bank • January 27, 2021

What is On-Bill Financing? 

A streamlined and affordable approach for home and business solar and energy efficiency upgrades, now including solar and battery charger opportunities.

On-Bill is a financing program that provides loans to La Plata Electric Association (LPEA) customers for installing solar and energy efficient enhancements at their home or business with no upfront costs and at low interest rates.Loan payments are then repaid through your monthly electric bill. On-Bill Financing was created to promote equity, affordability, and accessibility to solar and energy efficiency by providing immediate financial and quality-of-life benefits to families and businesses.


On-Bill financing helps you afford solar and energy efficient technology with no added costs, since energy savings from improvements and additions are often greater than the cost to finance them — including lower monthly electricity usage and long-term savings.

How does it work? 

  1. Identify Energy Needs: LPEA’s On-Bill Financing program relies on you, an LPEA customer, to identify the energy measures that need to be financed. No energy audit is required, though LPEA does offer free walk-through assessments.

  2. Apply Online: Apply for the On-Bill Financing program HERE.

  3. Application Review: LPEA grades the application based on the customer's utility bill payment history for the last two years. The loan application is then passed onto First Southwest Bank for final approval.

  4. Project Review: When the application is approved, LPEA projects the potential energy savings by reviewing the planned efficiency measures to be installed, past energy usage, and the size of the home or business. 

  5. Project Installation: You then use the loan to pay for labor and materials.

  6. Monthly Repayment Begins: Your first monthly, loan repayment will appear on your next scheduled utility bill. 


What energy projects are eligible for financing?

On-Bill Financing covers labor and materials for projects such as:

  • Caulking/weather-stripping and insulation

  • LED lighting

  • Storm or thermal windows and doors and insulating window coverings

  • Water heaters, heat pump systems or other heating or cooling systems that reduce energy consumption

  • Energy Star rated appliances

  • Solar installs, panels, chargers and expenditures (new!)

  • Solar for vehicle battery chargers (new!)

  • Battery energy storage systems (new!)

  • Installation labor


How much can I apply for and what are the terms of the loan?

You can apply for loans up to $7,500 for non-solar residential installs and $20,000 for solar residential installs. For larger business loans, please inquire.  (restrictions may apply).

Can I hire a handyman or contractor to do the work under this program? And am I able to pick the contractor / solar provider for this work? 

Yes. The financing includes purchase of the materials (such as caulking/weather stripping or LED flood lights), and will cover the cost of the labor to do the installation for you.

How do I apply for On-Bill Financing?

Apply at our loan application portal HERE.


Reach out to FSWB CEO Kent Curtis, kent.curtis@fswb.com.

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