Solar Financing Options for Massachusetts Homeowners
I'm not a bank and I don't get a kickback for pushing you toward one lender over another. I work with a handful of financing partners I trust, and I'll walk you through which one actually fits your situation, your credit, and your goals. No pressure, no upsell.
Last updated August 2026. Most Massachusetts homeowners finance their solar system rather than paying cash, and the monthly math often works out better than people expect. A well-structured solar loan can cost less per month than your current electric bill, meaning you can start saving from day one. With the federal residential solar tax credit now expired, how you structure your financing matters more than ever. I'll lay out the real numbers on each option so you know exactly what you're getting into before you sign anything.
To see the system prices these financing options apply to, check my solar pricing tiers.
Financing Partners I Work With
These are lenders and programs I've researched and trust. I'm not paid to steer you toward any one of them, my job is to help you pick the right fit.
Propel by Concert Finance — The Option That Can Beat Paying Cash
✅ Now Live in Massachusetts & Rhode Island
Is Propel solar financing available in Massachusetts? Yes. Propel launched in Massachusetts and Rhode Island in 2026, and I can run real numbers for your home right now. Here's something most solar companies aren't explaining: the federal residential solar tax credit expired at the end of 2025. If you pay cash for solar today, you don't get any federal benefit. Propel changes that math.
Concert Finance initially owns the system as a business entity, which lets them capture commercial solar tax incentives that individual homeowners can no longer access. That savings is factored into your pricing. The result: a Propel system can cost 25% or more less than a straight cash purchase for the same equipment. Zero dollars down. Fixed monthly payment. Full ownership transfers to you automatically at the end of Year 5, with no renegotiation and no balloon payment.
Why this matters right now: the federal residential solar tax credit (Section 25D) expired for homeowner-owned systems installed after December 31, 2025, but because Propel's Phase 1 is structured as third-party ownership, Concert Finance can still claim the federal 48E commercial investment tax credit, which requires systems to be placed in service by December 31, 2027, and pass those savings on to you. That's something a straight cash purchase or standard loan can no longer do.
Confirmed loan terms:
- 25-year loan term, no prepayment penalty, pay the minimum or pay it off anytime
- Typically available to homeowners with credit scores in the low 600s and above
- Fixed APR around 9.69%
- Loan is transferable if you sell your home (subject to approval)
- Loans originated by Medallion Bank, Member FDIC
How ownership works:
- Years 1 through 5: Concert Finance owns the system. You make a fixed monthly payment covering the system, a Prepaid Energy Services Agreement, and your Early Buyout Option. No prepayment penalties.
- End of Year 5: Your Early Buyout Option is automatically exercised. Full ownership transfers to you.
- Year 6 and beyond: You own it outright and keep 100% of what the system produces.
What's covered during Years 1 through 5:
- Performance Guarantee (5 years): If the system produces below 85% of estimated output, Concert fixes it at no cost to you.
- Operations and Maintenance (5 years): Upkeep, monitoring, and necessary repairs included.
- Workmanship Warranty (5 years): Installation quality protection, stacked on top of manufacturer equipment warranties.
- Roof Penetration Warranty (10 years): Protection against leaks at all mounting points.
- System Monitoring (25 years): Full access to production data for the life of the system.
Loans offered through Concert Finance are originated by Medallion Bank, Member FDIC. Loan transferability is subject to terms and conditions; fees may apply.
Ready to see if you qualify?
Pre-Qualify with Propel NowOpens in a new window. Or call me: (617) 360-8603
Atmos Financial — Solar Loans
Atmos is a fossil-fuel-free digital bank built specifically around financing solar and clean energy upgrades. Their solar loans are structured to avoid the dealer fees that get baked into a lot of installer financing, which can mean a meaningfully lower total cost over the life of the loan.
- No dealer fees added to your loan balance
- Online application, fast approval process
- Loan terms built specifically for solar (not a generic personal loan)
- This is my direct application link, homeowners can apply right now
UMassFive College Federal Credit Union — MySolar Loan
UMassFive's MySolar loan is built specifically for Massachusetts homeowners going solar, with terms designed around how solar actually pays for itself. As a credit union, their rates tend to be competitive with fewer of the fees you'll find in installer-arranged financing.
- Massachusetts-based credit union
- Fixed-rate solar loan product
- Membership required (eligibility is broader than people expect for MA credit unions)
- Good option if you want a straightforward, no-frills loan
Citizens Bank — Home Equity Line of Credit (HELOC)
If you have equity built up in your home, a HELOC through Citizens can be one of the lowest-cost ways to finance solar since your home secures the loan. You draw only what you need during the draw period, which gives you flexibility if your project costs shift during design.
- Borrow up to 85% of your home's value (combined with existing mortgage balance)
- Loan amounts from $17,500 up to $2,000,000
- 680 minimum credit score typically required
- 10-year draw period, no cost to open in most cases
I don't originate loans and I'm not a lender. These are financing partners and programs I've researched and that other homeowners I've worked with have used. Rates, terms, and eligibility are set by each individual lender and can change, so confirm current details directly with them before making a decision. I'm happy to help you think through which option fits your situation best.
Common Questions About Solar Financing
Straight answers on paying for your solar system.
Is the federal solar tax credit still available in 2026?
What's the difference between a solar loan and a home equity loan for financing solar?
Do I need perfect credit to finance solar in Massachusetts?
What is Propel financing and is it available in Massachusetts?
Can I finance a solar battery along with my panels?
Let's Look at the Real Numbers
I'll show you exactly what a system costs, what you'll save, and how the monthly payments stack up against your current electric bill.