How to bid on the Low-Interest Solar and Energy Storage Loan Program for Pasadena

What the City of Pasadena is buying

The City of Pasadena is looking for local banks and credit unions to partner on a Low-Interest Solar and Energy Storage Loan Program. This program aims to provide loans with interest rates between 0% and 3% APR for residential customers who want to purchase solar and energy storage systems.

Pasadena Water and Power (PWP) has tentatively allocated $3 million over three years to subsidize these loans. The goal is to fund loans for 175 customers during this initial three-year period. All PWP residential electric customers are eligible, including those enrolled in PWP's Electric Utility Assistance Programs.

Key dates and what happens at the deadline

This Request for Proposals (RFP) was published on July 23, 2026. The deadline for submitting your proposal is August 28, 2026, at 6:00 PM ET. All responses must be submitted through the OpenGov Procurement portal before this deadline.

Who this opportunity suits

This opportunity is suitable for local banks and credit unions in the Pasadena area. The City of Pasadena is specifically seeking financial institutions that can administer a loan program and are interested in supporting renewable energy adoption for residential customers, including low-income households. Experience with similar loan programs or partnerships with utility companies would be beneficial.

How to respond to this solicitation

To respond, you need to access the opportunity on OpenGov Procurement. First, click the 'View original source' link to go to the project page. If it's your first time, a brief security check will run. Once the page loads, you will need to sign in or create a free vendor account on OpenGov Procurement. This account allows you to download all necessary plans, ask questions, join the planholders list, and submit your proposal before the deadline. Any updates or addenda will be communicated through OpenGov.

Tips for preparing a competitive response

When preparing your proposal, clearly outline your institution's capacity to administer a loan program of this scale, including your processes for loan origination, servicing, and reporting. Detail how you will achieve the target interest rates of 0% to 3% APR, leveraging the City's loan buydown funds. Highlight your experience working with residential customers, especially those in low-income categories, and demonstrate your understanding of the local market.

Ensure your proposal addresses how you will reach and serve the target participation goal of 175 customers over three years. Provide a clear communication plan for engaging with PWP customers and outline your proposed marketing and outreach strategies for the program. Review all solicitation documents carefully for specific requirements and evaluation criteria to tailor your response effectively.