Mass Solar Loan


Talk to a participating Massachusetts bank or credit union about loans available for residential solar installations.

Solar panel image

Mass Solar Loan Features

  • Loan amounts up to $60,000
  • $500 maximum closing costs
  • Standard 10-year repayment term (up to 15 years)
  • 5.99% maximum interest rate (as low as 4.50%)
  • Up to 12 months of interest-only payments during construction
  • Secured by UCC (Uniform Commercial Code)
  • Ability to re-amortize within the first 18 months at no cost

Solar Financing Made Easy

  1. Receive a solar price quote from a pre-qualified Mass Solar Loan installer by finding a list of eligible installers and resources to help you choose an installer at
  2. Select an installer and sign a solar installation contract.
  3. Work with your installer to complete your Mass Solar Loan technical application online.
  4. Provide your tax information online, if you are applying for income-based loan support.
  5. Once you receive your technical confirmation document via email, work with a Mass Solar Loan lender to complete your loan application.
  6. When your loan closes, your lender advances you 35% of the loan to cover initial construction costs.
  7. After your solar system is connected by your utility, your installer files your project completion documents.
  8. When the project receives completion approval, you receive the remainder of your loan from your lender.

Mass Solar Loan Benefits

Program Structure for Income-Based Loan Support:

The Mass Solar Loan Program (MASSCEC) will determine eligibility for Income Based Loan Support corresponding up to 30% of the loan amount, and capped at $10,500.

Program Structure for Interest Rate Buy Down:

The Mass Solar Loan Program (MASSCEC) will determine eligibility for any Interest Rate Buy Down, where a 1.5% discount would be applied to your initial Interest Rate.

Loan Loss Reserve

This is a lender incentive. Depending on your credit score, the lender may be eligible for additional incentives to help you go solar.

Eligibility Requirements

  • Only solar electric (photovoltaic) systems owned by the resident are eligible.
  • Third-party lease or power purchase agreements for solar are NOT eligible.
  • Loan recipients must be Massachusetts residential property owners or Massachusetts residents.
  • Loan recipients must meet lender-defined loan qualification standards.
  • Solar electric systems must be connected to the electricity distribution grid.
  • Solar electric systems may not have previously received incentives from the Massachusetts Clean Energy Center.
  • Homes must have had a residential energy audit within the past five years or have one scheduled at the time of loan closing.

Click Here To Apply


Massachusetts Department of Energy Resources Massachusetts Clean Energy Center