Zero Down Residential Solar Financing

Loan options include:

  • SolFarm currently only offers financing for the state of North Carolina
  • Fixed rates
  • Zero down - You are welcome to apply as much of a down payment as you would like
  • Easy approval process
  • 12 and 20 year terms
  • Interest only options for first 15 months
  • No payments to be made until 30 days after solar energy system is installed
  • Re-amortization: permitted once within first 15 months
    • Allows for 30% ITC, state tax credits and rebates to be applied to loan amount

Advantages To Financing Your Solar Project

As utility energy rates continue to rise, 4% average annual increase nationally, the option to leverage a loan against this utility cost increase is becoming more and more popular. A zero money down solar loan allows for you to keep cash in your pocket and pay for your system monthly. When comparing a solar loan to a common personal loan or home improvement loan, solar loans typically have much longer terms allowing for you to spread out the cost of your investment in bite sized payments.

In most cases, homeowners who finance their solar energy system begin saving money on day one. These initial savings will increasingly grow as time goes on. As energy rates continue to rise year after year your energy costs remain mostly the same as the terms of your loan do not change; the repayment of your loan replaces your energy bill and hedges rising costs.

Solar Energy Financing Chart

Why Choose SolFarm For Your Residential Solar Energy System?

SolFarm works with you to establish the design criteria for your unique system. Our NABCEP certified team has years of experience designing and installing solar electric systems; rooftop and ground mounts. The SolFarm team will first evaluate the energy efficiency of your home to identify ways to reduce your electrical load. Once an energy analysis has been completed we will move forward with your solar energy system installation. SolFarm will also be available for maintaining your system. SolFarm also helps you with any rebates and incentives that are available in your area. We want you to be at ease knowing that you have a team of professionals with you through the entire process, and beyond.

Have a solar energy PV system not installed by SolFarm? We can service your system as well. Contact us to start the conversation.

Solar Financing FAQ's

Q: How many years can I finance my solar energy system?
A: Typically solar loans are available for 10 - 20 year terms.

Q: Can I apply my Tax Credit and other Rebate and Incentives to my loan?
A: Yes, re-amortization is available to reduce the amount borrowed; lowering your monthly payments. Once you have received your federal ITC and/or other rebates and incentives you can apply these savings/moneys towards your loan.

Q: Is this loan secured or unsecured?
A: Both options exist for solar loans. Secured solar loans typically apply a lien to the newly installed solar energy equipment; not your home or property.

Solar Installation Incentives & Rebates

Do I qualify for any incentives or rebates? How do I access these programs?

Tax credits from the federal and state government, and local incentives and rebates from utility companies are all put in place to make going solar easier for both residential and commercial customers. These incentives vary by location and utility. When going solar with SolFarm you can rest in knowing that we will peruse any and all available incentives to save you money. SolFarm's turnkey solar installation includes the processing of and assistance with incentive applications and forms.

Residential and commercial solar customers, in every state of the USA, are eligible for a 26% Federal ITC (Investment Tax Credit). 2022 is the last year for the 26% ITC. The ITC will reduce to 22% in 2023 and is scheduled to end entirely for residential installations by the end of the calendar year. Commercial installations will continue to receive a 10% ITC.

The solar energy tax credit, when introduced in 2006, was previously set at 30% and has reduced gradually over time. Congress intervened in 2020 to extend the 26% rate for two more years. At this point in time we are not aware of any plans for Congress to again extend the ITC.

For more information about incentives please Click Here or Contact Us for a quote.


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