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Sullivan Solar Power has partnered with aleo solar to provide low-interest loans for residential solar power systems in Southern California.

As opposed to a solar lease, which has become a typical financing method offered in the market, homeowners now have the opportunity to own their solar power system with a 12-year loan at a 2.99% interest rate.

To qualify for the new loan, homeowner applicants must have a credit score of 640 or above and be serviced by Southern California Edison or San Diego Gas & Electric, the companies note. Equity in the home is not required for approval.

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