Solar Financing & Solar Loans

graph on energy savings with solar

Does Financing Make Sense?

Let’s say you take out a $10,000 loan at 5.75% interest over 7 years to finance your solar system.

Here’s how the loan payments might stack up against your energy savings:

What you pay in loan interest & fees
How much you save on energy bills

You’ll pay a few thousand dollars more in loan interest and fees, but you stand to save over $29,000 in energy bills over the life of your system.

Want to run the numbers for yourself? Use our solar financing calculator to estimate your monthly payments.

Solar Finance Calculator

* Default interest rate based on credit score of 700 or above. Excludes loan origination fee.

3 Reasons to Finance

image of a calculator

1. Ditch the Utility Company

Start rolling back your meter the moment you flip the switch. You can reduce or completely eliminate your electric bill from Day 1.

graph of solar tax incentives

2. Keep the Incentives

If you take out a loan, you can still claim the 30% Federal Tax Credit as a reward for investing in renewable energy. Applying that credit to your loan can help accelerate the payback schedule.

Companies who offer solar leases or PPAs keep the credit for themselves, which dampens the value of your investment.

solar payback period graph

3. It Pays to Go Solar

Even with loan payments, a $10,000 grid-tied system can pay for itself in about 6 years. Since most solar panels are warrantied for 25 years, there’s plenty of time left to reap the rewards of cheap, renewable energy.

Buy, Loan, or Lease?


Pay the full amount up front.
You own the system.
Keep the federal tax credit and any local incentives.
Maximize your long-term savings.


You take on loan payments.
You own the system.
Keep the federal tax credit and any local incentives.
Lower ROI than cash, but you still make a healthy profit off your system.


Pay nothing up front.
You do not own the system.
You can not claim any tax credits or incentives.
Much lower ROI than loan or cash purchase.

Financing Partners

Wholesale Solar partners with Home Loan Investment Bank and RocketLoans to present financing options to our customers. We do not receive any compensation for these referrals. We merely recommend options we believe are a good fit for typical solar buyers.

Home Loans Investment Bank Logo

Federal Housing Administration (FHA) loans assist homeowners who are making improvements (like adding a solar system) to their property.

  • Borrow up to $50,000
  • Stricter application process, but potentially lower rates

Max Loan Amount: $50,000

Interest Rate: 3.75% - 9.75%

Approval Time: 5-7 days

RocketLoans offers an impressive 24-hour approval window, and you can complete the entire application process online. It’s great for lightning-fast approval, but the rates are a bit higher than a Title 1 Loan.

We would only recommend this if your project is on a strict deadline, or if you do not qualify for a Title 1 Loan.

Max Loan Amount: $35,000

Interest Rate: 5.983% - 29.99%

Approval Time: 24 hours

Request a Free Consultation

Wholesale Solar Employee
Connect with a solar tech to learn more about financing your system.