Are you planning an improvement that would add efficiency to your home? We’d love to help you finance adding solar panels! Together we can make a difference in our communities and the world.
Help Me Choose
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Best if you want
Best if you want
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Term
Term
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APR as low as2
APR as low as2
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Maximum
Maximum
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Loan Type1
Loan Type1
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Other terms
Other terms
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Home Solar Loan3
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Best if you want
Easy, fast approval for an unsubsidized loan1 for solar panels. *Reamortize after getting state or federal incentives to lower your monthly payments.
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Term
20 years
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APR as low as2
7.25% (240 months4)
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Maximum
$75,0003
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Loan Type1
Unsecured
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Other terms
No application fee, no origination fee, no pre-payment penalty.
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Energy Efficiency Loan5
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Best if you want
Improve your home's energy efficiency by upgrading HVAC, windows, doors, appliances, air and ground source heat pumps, mini splits, EV wiring, and insulation.
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Term
10 years
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APR as low as2
6.90% (120 months6)
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Maximum
$25,000
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Loan Type1
Unsecured
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Other terms
No application fee, no origination fee, no pre-payment penalty.
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1 All loans subject to approval. Rates, terms & conditions are subject to change and may vary based on creditworthiness, qualifications & collateral conditions.
2 APR = Annual Percentage Rate.
3 For qualifying borrowers. $75,000 loan maximum. No application fee, no origination fee, no pre-payment penalty. Contact us for more information.
4 Payment example: home solar unsecured loan of $30,000 for 240 months at 7.25% APR2 will have a monthly payment of $238.
5 For qualifying borrowers. $20,000 loan maximum. No application fee, no origination fee, no pre-payment penalty. Contact us for more information.
6 Payment example: home energy efficiency unsecured loan of $10,000 for 120 months at 6.90% APR2 will have a monthly payment of $116.
*Each tax situation is different, consult with your tax professional.
The rates and terms shown are effective as of July 1, 2024.
Is solar right for me?
Do you want energy independence? Are you committed to low-carbon energy sources? Are you looking for ways to add value to your home as a financial investment? Whatever your motivation, solar may be the way forward — but it’s important to know that the financial performance of solar can vary widely, depending on how it’s done. Let’s take a closer look.
Financial Analysis of Residential Solar: A Guide for Homeowners
The goal of this report is to provide a broad understanding of the economic performance of home solar and the factors affecting it, and to provide an assessment framework for homeowners interested in solar energy.
Read the full guideHow to evaluate a solar contractor’s bid
In addition to the design and installation, solar energy systems require permitting, inspection, and net-metering agreements. Some locations may require building permits and structural inspection.
- Does the bid cover everything needed to get the system on-grid and generating electricity?
The specifics of your site, such as roof angle and shading, will impact your electricity production. You may also want to know how much of your electric use your system will offset. Does the bid include:
- Estimated production for your site specifically?
- Comparison with your current electricity use?
- Estimated first-year savings?
- Estimated years until the system pays itself off?
Is there a written warranty that covers the system components and workmanship? Panel warranties are generally similar, but inverter warranties vary, and replacement can be a significant expense. Does the warranty cover:
- Panels?
- Inverter?
- Workmanship?
You want to make sure you know the total price of the system (not just the monthly payments) and that the prices are given both before and after available tax credits.
- Is the total price of the system clear?
- Is the price given both before and after available tax credits and utility rebates?
- Does the bid include any add-ons, such as roof work or system monitoring?
Although not necessary, solar-specific training and certifications are an indicator of installer experience and quality. NABCEP (North American Board of Certified Energy Practitioners) certification is becoming the industry standard, but others exist as well.
- Does the installer hold any solar-specific certifications?
Solar panel manufacturers are grouped into three tiers based on their size and length of time in the marketplace. Tier 1 companies are generally considered the most reliable, followed by Tiers 2 & 3. What Tier are the panels in the bid from?
- Tier 1
- Tier 2
- Tier 3
Bid comparison worksheet
Here’s a comparison worksheet that you can use to review bids from solar contractors, and compare apples to apples.
All loans subject to approval. NMLS #447584. Equal Housing Lender. Insured by NCUA.