Home Run Financing

residential solar panel financing

RESIDENTIAL SOLAR FINANCING MADE EASY AND AFFORDABLE

With solar, you’ll actually look forward to monthly bills.

Solar panel financing with no minimum credit requirement.

Installing solar can be a great way to reduce your energy bills, potentially saving you thousands of dollars over the life of your system. However, getting solar financing with bad credit can be tough, and the high upfront costs may make it seem like solar is out of reach.

Home Run Financing can help. Our PACE solar program does not use credit score to determine eligibility. Our low fixed rates and long repayment terms make solar affordable today, so you can reduce your utility bills for years to come.

Apply for Solar Financing

Reduce your energy bills today.

We can often approve applications within minutes.

No minimum credit requirement.

We don’t use your FICO score to determine your eligibility, meaning you can get solar financing even with bad credit.

A wise investment in the future.

Your savings on energy bills will grow over time as utility rates increase.

Low, fixed rates.

Home Run Financing offers competitive fixed interest rates.

Work with reliable solar contractors.

We can connect you with a PACE approved solar contractor, who has passed our full screening and training process.

No upfront cost & flexible payment options.

With payment term options from five to thirty years, you can choose a repayment plan that works with your budget.3

What are your solar financing options?

There are many popular options for financing a solar installation, including solar loans, solar leases, and solar Power Purchase Agreements (PPAs). It is important to find the option that works best for your budget and credit profile. Many financing options have minimum credit score requirements, which makes it difficult to get solar financing with bad credit. Use the table below to compare solar financing options.

PACE Funding
 Home Equity Line of Credit (HELOC) Credit Card
Repayment Terms
Up to 30 Years
Up to 30 Years
Not Applicable
Rate Structure
Always Fixed
Fixed or Variable
Compounding
Approval Time
Within Minutes
Up to a Month or Longer
Same Day
Approval Based on Credit Score
No
Yes
Yes
Obligation Shows on Credit Report
No
Yes
Yes
Lien on the Property
Yes
Yes
No
Tax Deductible Interest
Consult Your Tax Advisor
Consult Your Tax Advisor
No
Enhanced consumer protections
Yes
No
No

Financing your solar project through Home Run Financing

Once the project was complete, we were very excited. We couldn’t wait to see next month’s bill.

Camille – Broward County, FL
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What to consider before financing solar projects

One of the primary goals of any residential solar installation should be to reduce the total cost of electricity for the homeowner. Solar will help reduce your monthly electricity bill by reducing the amount of electricity you purchase from your utility. However, you will still need to account for the cost of your new solar electricity when calculating savings. If you decide to finance your panels through a solar loan, the monthly or annual cost of the financing plus any remaining utility costs should be less than what you are paying for electricity today.

When you get a proposal from your local solar contractor, be sure to have them show you your total expected savings today and in the future, including any solar financing costs. Typically your savings will grow over time, as local utility rates increase. Be sure that your local solar contractor is using a realistic assumption for the annual increase in utility rates, so that they are not over estimating the savings you will see.

roofing for solar panels
close up of roof shingles

Make sure your roof is in good condition.

Solar panels can easily last 20 to 30 years or longer. It is important that your roof is in good condition prior to installing solar panels. The good news is that Home Run Financing can also be used to finance a new roof, so if you are interested in tackling both projects at the same time, contact us today.

financing solar pool heaters
Blur water background swimming pool with cool blue aqua color

Consider financing multiple solar projects.

Home Run Financing can help finance solar hot water and solar pool heaters, in addition to solar electric/PV. These projects can be done using a single home improvement financing application and we can connect you with the right local contractors to get the job done, regardless of the type of solar you are considering.

financing solar panel products
close up of the solar panels

Consider the quality of solar products.

There is a wide range of solar products and solar panels on the market. Key product considerations include size, appearance, and panel efficiency. There are also considerations around the type of inverter that might be best and whether or not a battery backup solution might make sense. Our PACE solar program only finances high quality, proven products and our carefully screened installer network can help you think through the best solar products for your home.

Eligible in multiple states and more than 520 communities

Click a state below to confirm PACE solar financing is available in your area.

California

pace financing in california state

Florida

pace financing in florida state

Solar financing FAQ

Is it worth it to finance solar panels?

Solar financing is a great way to avoid the high upfront costs of installing solar and still save money on your bills over time. Be sure to look for long repayment terms, and low fixed rates to help keep your repayment costs as low as possible. Contact us today and we can help you understand if PACE is eligible for your home improvement financing needs.

Is it better to lease or finance solar panels?

If you choose a solar lease, you don’t actually own your solar panels at the end of the lease. With a lease, you are essentially renting the panels for a predetermined monthly payment. Under a lease, any available solar tax credits will go to the solar leasing company, not the homeowner. Many solar leases require a twenty year agreement and at the end of the lease you may have the options to purchase the panels, extend the lease or have the panels removed.
If you choose to finance your investment through a solar loan or a PACE solar program, you own the panels and you are eligible to receive any available solar tax credits. To learn more, visit the PACE funding page.

Can I get free solar panels for my house?

While you may see advertisements for “free” solar panels, you should be wary of these claims. Frequently this is simply a marketing tactic for solar leases or solar PPAs. Under both types of arrangements, a company will put solar panels on your roof for no money up-front but will charge you for the electricity that they produce. Most offers will save you money but not all of them, so make sure you’ve thoroughly compared all your options, including financing solar panels through Home Run Financing.

Are houses with solar panels harder to sell?

Homes with solar panels are typically easier to sell and there are even studies that have shown that solar can increase the value of your home.

See if PACE solar financing is available for your home.

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