Mass Solar Loan

Shrewsbury Federal Credit Union is a participating lender of the Mass Solar Loan Program.  We also provide financing for Non-MassSolarLoan solar projects. 


Solar Loan Features:

  • Loan amounts up to $60,000
  • $500 maximum closing costs ($150 average)
  • 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 a UCC lien. 
  • Ability to re-amortize within the first 18 months at no cost 


Mass Solar Loan Program® - "Makes it Easy"

  1. Start by going to
  2. 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
  3. Select an installer and sign a solar installation contract.
  4. Work with your installer to complete your Mass Solar Loan technical application online.
  5. Provide your tax information online, if you are applying for income-based loan support.
  6. Once you receive your Technical Confirmation form via email from Mass Solar, forward it to and complete a loan application. (Apply below).  
  7. When your loan closes, your lender advances you 35% of the loan to cover initial construction costs. (two-party check)
  8. After your solar system is connected by your utility, your installer files your project completion documents.
  9. When the project receives completion approval, you receive the remainder of your loan from your lender. (two-party check)

Benefits of the MassSolarLoan® Program:

  • 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 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.

MassSolarLoan® Program 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.


Non-MassSolarLoan Solar Projects:

  1. Please complete a Solar Loan Application online by clicking below.
  2. Forward your installer-prepared Invoice for your solar project to 
  3. The Installation Invoice should include the following:
    • Homeowners' Name and Address (must be same as installation address)
    • Installation Company Name and Address
    • Installer's Email Address
    • All equipment being installed including model numbers
    • Total Project Cost
  4. At loan closing, you will receive a two-party check for 35% of the total loan amount to cover initial construction costs.
  5. Once your project has been completed by your installer you will receive the remaining amount (65%). 
  6. Verification of connection from your utility company may be requested.


Click Here To Apply


Massachusetts Department of Energy Resources Massachusetts Clean Energy Center