Adder Requirements and Itemization on Contracts
As part of Climate First Bank’s solar financing process, any adders (additional components or services beyond the base solar installation) must be itemized on the contract. This ensures transparency, accuracy in pricing, and compliance with loan requirements.
What Does "Itemized on the Contract" Mean?
To itemize means to list each component or service separately along with its corresponding cost. Instead of combining all costs into one lump sum, the contract must break down the total into individual line items. This makes it clear what each portion of the project cost covers.
Example:
Solar System: $36,000
Roof Replacement: $9,000
Total: $45,000
Both the solar system and the roof are individually priced and labeled, making the contract itemized.
Price Per Watt (PPW) Calculation
It’s important to note that adders are not included in the price per watt calculation.
The Solar PPW cap is $3.75.
This PPW cap applies only to the solar system cost and does not include the cost of approved adders.
Approved Adders
The following items are recognized as approved adders when included with a solar installation:
Roof
Batteries
EV Chargers
Spray Foam
Electrical Upgrades
Critter Guard
Tree Trimmings or Tree Removals
Ground Mounts
Pergolas (if solar is being added on top)
Carports (if solar is being added on top)
Why Itemization Matters
Itemizing costs helps ensure:
Transparent pricing for homeowners
Accurate loan processing and approvals
Compliance with Climate First Bank’s financing policies