Residential solar loans:
For residential solar loans, the 6 month no payment period begins on the NTP issue date. This means the first payment for a customer is 6 months from their NTP issue date. While no payments are due during the first 6 months, interest will accrue during this period.
This allows time for the project to be completed before the customer begins paying for their system. Principal and interest payments will begin in month 7. Their first payment date will be laid out in their loan documents.
Commercial solar loans:
For commercial solar loans, the customer will have 6 months of interest-only payments, with their normal principal and interest payments beginning in month 7. Interest-only payments are only based on the amount funded, so these will vary depending on if you have received funding yet.