Propel Solar Financing Is Now Live in Massachusetts and Rhode Island

Propel, a transitional-ownership solar loan from Concert Finance, just went live for homeowners in Massachusetts and Rhode Island. It pairs a prepaid energy services agreement with financing to deliver a system that can cost 25% or more less than a straight cash purchase, with zero dollars down and full ownership transferring to you at the end of Year 5.

The headline numbers: a 25-year loan term with no prepayment penalty, a fixed APR around 9.69%, credit qualification typically starting in the low 600s, and $0 down. I have been watching this program closely, and now that it is available in both states I work in most, I can run real numbers for your specific home.

If you want the short version of why this matters: the federal residential solar tax credit expired at the end of 2025, so paying cash or taking a standard loan no longer gets you any federal benefit. Propel's structure lets Concert Finance capture commercial tax incentives during the first 5 years and pass those savings through to you. That is why it can beat a cash price even with financing costs included. You can also read my broader solar financing options guide for the full picture of how Propel compares to loans, leases, and PPAs.

What Is Propel?

Propel is a Transitional Ownership program from Concert Finance. It works in two phases:

Phase 1: Years 1 through 5 (Third-Party Owned)

Concert Finance owns the system via a Prepaid Energy Services Agreement (ESA). You pay one predictable fixed monthly payment that covers the system, the services agreement, and your Early Buyout Option. There is no prepayment penalty, so you can pay the minimum or pay it off anytime.

Phase 2: Year 6 and Beyond (You Own It)

Your Early Buyout Option is automatically exercised at the end of Year 5. Full ownership of the system transfers to you. From Year 6 onward, you own the system outright and keep 100% of what it produces.

The timeline at a glance:

• Year 1: Concert Finance owns the system. You make fixed monthly payments.
• Year 5: Early Buyout Option is exercised. Ownership transfers to you.
• Year 6: You own it outright. Solar monitoring continues for 25 years.
• Year 25+: System continues producing with full monitoring access.

What Does Propel Cost for a Massachusetts Home? A Real Scituate Example

Here is a real example from a project I ran in Scituate, Massachusetts, in the Eversource service territory.

The home: A 4,000 square foot house in Scituate with an average monthly Eversource electric bill of approximately $400. The right-sized system for this home is 12 kW.

The numbers:

A 12 kW system at this home priced out at approximately $37,000 on a standard cash or loan basis. Massachusetts homeowners who own their system outright can still claim the state's solar income tax credit — 15% of system cost, up to $1,000 — bringing the effective net cost of a cash purchase down to approximately $36,000.

Under Propel, the same 12 kW system on the same home priced out at approximately $27,800. One important note: because Concert Finance holds third-party ownership of the system during Years 1 through 5, the Massachusetts $1,000 state solar tax credit does not apply to the homeowner under Propel — that credit is only available for owner-occupied systems.

Even accounting for that difference, Propel still comes out $8,200 less than the effective net cash price — a savings of roughly 23% — while also requiring $0 down.

That gap exists because Concert Finance, as the third-party owner during Years 1 through 5, can claim the Section 48E commercial investment tax credit that homeowners can no longer access directly. Those savings are passed through in the form of lower system pricing. When you weigh the loss of the $1,000 state credit against the $9,200 reduction in system cost, Propel still comes out meaningfully ahead for most South Shore homeowners.

Loan Terms at a Glance

Propel APR Rate Tiers

Concert Finance does not publish exact FICO score cutoffs for each tier. Your specific tier is determined after a soft credit pull, which does not affect your credit score. 660 FICO is the minimum required to qualify at all.

All rates above assume automatic ACH payments are set up. Choosing another payment method adds 0.50 percentage points to your APR, so setting up ACH is worth locking in from day one.

Reamortization: Propel includes 3 built-in reamortization dates, after your 12th, 24th, and 36th payments. If you have made extra payments by one of those dates, your monthly payment can be recalculated (lowered) to reflect your reduced balance, without refinancing or paying any fees to do it.

Why Propel Beats a Cash Purchase or Standard Loan Right Now

The federal residential solar tax credit (Section 25D) expired for homeowner-owned systems installed after December 31, 2025, under the One Big Beautiful Bill Act. Homeowners who buy with cash or a standard loan today get $0 in federal tax credit. That is a significant change to the math.

Because Propel's Phase 1 structure is third-party owned, Concert Finance can still claim the federal 48E commercial investment tax credit, which is available through 2027. Those savings are passed through to you in Propel's pricing. This is why Propel can beat a straight cash price even with financing costs included. A cash purchase or standard loan cannot access this credit anymore, so Propel has a structural advantage that did not exist before the residential credit expired.

For the full breakdown of all your financing options side by side, see my solar financing services page.

Your Protection and Guarantees During Years 1 through 5

These coverages sit on top of the standard 25-year manufacturer equipment warranties. During the first five years, you have a double layer of protection: Concert Finance's coverage stacked on top of those baseline warranties.

Massachusetts Homeowners: Stacking Propel with Local Incentives

Propel can be paired with the Massachusetts SMART 3.0 program, a production-based incentive currently paying a base rate of $0.03/kWh for residential systems, paid monthly for 20 years, with adders available for battery storage and low-income households. SMART payments go to whoever owns the system's production during each phase, so this is available to Propel homeowners throughout.

Important note on the state tax credit: the Massachusetts state solar tax credit (15% of system cost, capped at $1,000) does not apply to Propel. That credit is only available to homeowners who purchase and own their system outright. Because Propel is structured as third-party ownership for the first 5 years, homeowners are not the system owner or purchaser during that period and are not eligible to claim it, even though ownership transfers at Year 5. I want to be upfront about that so you are not counting a credit you cannot claim.

For the full picture of what Massachusetts still offers in 2026, see my solar financing options guide and the incentives guide.

Rhode Island Homeowners: Stacking Propel with Local Incentives

Propel is now available to Rhode Island homeowners and can be paired with Rhode Island's net metering, which provides full retail credit for excess production with credits that roll over with no expiration. Depending on your utility, you may also qualify for the Renewable Energy Growth (REG) program or Renewable Energy Fund (REF) grants. Note that REG and net metering cannot be combined, but REF pairs with net metering. Rhode Island also offers solar sales tax and property tax exemptions.

What Does Propel Cost for a Rhode Island Home? A Warwick Example

Here is an illustrative example for a home in Warwick, Rhode Island, in National Grid service territory. (Figures below are estimates for illustration, not a quote.)

The home: a 2,150 square foot house in Warwick with an average monthly National Grid electric bill of approximately $250. The right-sized system for this home is roughly 8 kW.

The numbers: an 8 kW system priced on a standard cash or loan basis at approximately $25,000. Rhode Island does not have a state solar income tax credit like Massachusetts, but ownership does qualify for the state's solar sales tax and property tax exemptions.

Under Propel, that same 8 kW system prices out at approximately $19,000, roughly 24% less than the cash price, with $0 down and full ownership transferring to you at the end of Year 5.

As with Massachusetts, this gap exists because Concert Finance, as the third-party owner during Years 1 through 5, can claim the Section 48E commercial investment tax credit that homeowners can no longer access directly, and passes those savings through in system pricing.

I serve homeowners across both states. If you want to see which towns I cover, check my service areas page.

How Propel Compares to Other Ways to Go Solar

Is Propel Right for You?

Propel is a strong fit for homeowners who:

• Want $0 down and predictable monthly payments now, with full ownership later
• Have credit scores in the low 600s or above
• Plan to stay in their home for at least 5 years or are comfortable with a transferable loan if they sell before that
• Want to capture commercial tax incentive savings that a cash purchase or standard loan can no longer access

If you prefer to own your system from day one, or if you qualify for other financing like a HELOC or solar loan, it is worth comparing options. I will show you the real numbers on each path so you can decide what fits your situation. See my full residential solar service page for the complete process.