Solar Loan Payment Calculator
* Default interest rate based on credit score of 700 or above. Excludes loan origination fee.
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Solar loans are a great financing option when you want to go solar but don’t have the cash up front to make the purchase. These loans are similar to home improvement loans — unsecured with no down payment required. There won’t be any lien on your house.
Solar financing companies these days offer loans as low as 1.49% APR over a 20 year term. Without making any down payment, you can finance the entire cost of your system in exchange for a lifetime of savings on your energy bills. For example, if your current electricity bill is $300 per month, your loan payment to finance the entire system would be around $140 and your monthly electricity bill will drop to around $10. This means even after financing the entire cost of your system without putting any money down, you will still save 50% on your monthly electricity bill. Calculate your Solar loan monthly payment using the calculator below.