Solar Loan: Own Your System And Replace Your Bill With A Fixed Payment

It depends on the lender and the loan type. Many unsecured solar loans look for scores in the 600s or higher, and the best rates usually go to higher scores, while some secured or specialty programs work with lower scores. We check which financing partners fit your profile when you request a solar quote. If credit is a concern, compare a solar PPA or a solar lease.

Rates change with the market and vary by lender, term, loan type and your credit. Instead of relying on a number from an article, ask for the APR and the full list of fees on every offer. We compare financing offers side by side for your home, so start your solar quote or ask our team.

A loan usually needs some credit history, but you have other routes. A solar PPA or a solar lease often has different approval standards, and a secured loan such as a home equity product may help if you have equity. We show what is realistic for your situation, with no obligation.

Yes, many homeowners do. A home equity loan or line of credit is secured by your home, which can mean a lower rate than an unsecured loan, but it also puts your home behind the debt. Compare the rate and fees with a regular solar loan and a cash purchase. Contact us to talk it through.

PACE stands for Property Assessed Clean Energy. The cost is repaid through your property tax bill instead of a monthly loan payment. PACE is available only in certain states, counties and cities, and only through approved programs, so we check by address. See where we work across our service areas and in California.

A loan makes you the owner and you handle upkeep with warranty support, while a lease has a fixed payment and the installer owns and maintains the system. A loan may suit you if you want ownership and long term value. A lease may suit you if you want less responsibility. Our services page compares them side by side.

A PPA has no ownership and no loan, and you pay a per kWh rate for the power produced. A loan means you own the system and pay it off over time. Which saves more depends on your utility rate, the PPA rate and its yearly increase, the loan APR and how long you stay in your home. We compare them for you.

The payment depends on the amount financed, the APR and the term. As an example only, financing $25,000 at 7 percent over 20 years is about $194 a month. Use any loan calculator with your real quote, then compare the payment with the electric bill it replaces. We run the numbers when you request a quote, and you can see the cash price on our cash purchase page.

The federal homeowner tax credit for solar ended for systems paid for after 2025, so do not count on it. States may have their own incentives, and the rules change, so confirm what applies in California or Massachusetts before you decide. Third party owned options such as a PPA or prepaid PPA work differently because the installer owns the system.

Some research has found that homes with owned solar can sell for more, though results vary by market and system. A loan means you own the system, so it can be part of the sale, and any remaining balance is paid off at closing. A leased or PPA system works differently. See the ownership side on our cash purchase page or learn how we work.

Sometimes. Some loans include fees that raise the price of the system compared with paying cash. Ask for the cash price, the financed price and the APR, then compare them. We show these side by side when we compare your offers, and you can also look at a prepaid PPA if you have cash and do not want to own the system.