Low-Interest Solar and Energy Storage Loan Program
| Agency: | City of Pasadena |
|---|---|
| State: | California |
| Type of Government: | State & Local |
| NAICS Category: |
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| Posted Date: | Jul 23, 2026 |
| Due Date: | Aug 21, 2026 |
| Solicitation No: | 2026-RFP-0399 |
| Original Source: | Please Login to View Page |
| Contact information: | Please Login to View Page |
| Bid Documents: | Please Login to View Page |
Description
Project ID: 2026-RFP-0399
Title: Low-Interest Solar and Energy Storage Loan Program
Addenda: 0
Release Date: 7/23/2026
Due Date: 8/21/2026
Post Information
Sealed Bid Process:Yes (Bids Sealed / Pricing Sealed)
Private Bid:No
Summary
The City of Pasadena, through Pasadena Water and Power ("PWP"), is seeking proposals from qualified local banks and credit unions to partner in implementing a Low-Interest Solar and Energy Storage Loan Program. This program will primarily target low-income PWP residential electric customers enrolled in one of PWP's Electric Utility Assistance Programs (e.g., EUAP, CARES, CARES Plus). The Public Benefit Fund will subsidize, or "buydown," each loan to allow the successful Proposing Entity to offer a target interest rate within the range of 0% to 3% APR.
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Public Benefit Fund Allocation: PWP has tentatively allocated $3,000,000 for loan buydowns over three years.
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Target Participation Goal: PWP's goal is to fund loans for 175 customers over the program's initial three-year period.
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Optional Component: Proposing Entities are also encouraged to present options for offering similar loans to PWP's regular, non-low income electric customers.
Timeline
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