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Solar financing options for Texas

Solar United Neighbors is both vendor and finance neutral as an organization. We have compiled the following financing options for your convenience. We encourage you to further research additional options to meet your needs. As with any major financial decision, we recommend you consult with your financial planner.

Bank/personal loans

Bank loans can be personal loans. This means no collateral is used to secure the loan. They can also be attached to your home or the panels themselves. Ask the loan officer at one of your local banks or credit unions which option is best for your situation. Solar installers may also offer financing options through their respective partners (such as SunlightFinancial, Sunnova, etc.).

Solar/energy efficiency specific loans

A growing number of institutions offer loans specifically for solar or energy efficiency upgrades. Home Energy Audits may be required for certain loan programs.

Banks & lenders offering solar loans (in Texas)

Home equity loans

Home equity loans are secured loans. The collateral is the equity you own in your house. You can then either borrow one lump sum or take out a line of credit. These usually have favorable fixed interest rates (around 5% is normal); however, require strong home equity and a good credit score.

FHA home mortgage

Solar can now be added to a regular FHA home mortgage loan. PV systems must be new, and cannot be leased. The amount financed for a system must not exceed 20% of the property’s appraised value.

PACE lending

Property Assessed Clean Energy lending programs are available for businesses, non-profits, and commercial entities. TX-PACE programs enable owners to lower their operating costs and use the savings to pay for eligible water conservation, energy efficiency, resiliency, and distributed generation projects.