LOANS

How a Solar Loan Works 

A solar loan lets you go solar with little to no money down and pay for your system over time, instead of all at once.

Here’s how it works:

• You install solar panels on your home

• A lender pays for the system upfront

• You make fixed monthly payments—just like a car or home improvement loan
  
  

Because your solar panels reduce your electric bill, many homeowners find that their monthly solar payment is similar to or lower than what they used to pay the utility.

Why homeowners like solar loans

✅ You own the system
✅ You qualify for tax credits and incentives

✅ Fixed payments—no rate hikes
✅ Increases home value

✅ Often $0 down

Most solar loans allow you to use available tax credits and incentives to:

• Lower your loan balance, or

• Reduce your monthly payment

This helps keep payments affordable long term.

Simple example

• Old electric bill: $180/month

• New solar loan payment: $140/month

• New electric bill: $20/month

👉 You save money while owning your power.

Bottom line

A solar loan lets you replace your electric bill with a predictable payment, lock in energy savings, and own your solar system—without paying everything upfront.