Solar Lending

Solar Lending

Residential Solar Financing

For a cleaner tomorrow

Harness the Power of the Sun

Tired of rising utility costs? Want to reduce your carbon footprint? How about both? No matter your reason for adding solar power to your home, greenpenny can help you make that dream a reality. 

Our residential solar loans offer qualified borrowers straightforward financing for up to 20 years with no pre-payment penalties or large upfront financing costs (sometimes called dealer fees). Borrowers maintain the flexibility to utilize federal and state incentives, while simultaneously setting up repayment success, right from the start.

Rates and Options Apply Online


Residential Solar Term Loans

  • Borrow up to $70K for up to 20 years
  • Fixed interest rates mean no payment increases over the life of the loan
  • No prepayment penalties
  • No hassle, automatic payments
  • Future refinance option (for a fee) to reduce monthly payment
  • Apply online in minutes!

Residential solar loans include a one-time $750 origination fee. Borrowers are subject to the interest rate at the time of loan closing.


Flexibility to Utilize Solar Incentives

Upon receipt of any solar incentive funds, such as the Federal Solar Tax Credit or Solar Renewable Energy Credits (e.g. Illinois Shines), borrowers have the option to pay down the principal of their solar loan, or use the funds on something else - whichever scenario fits their financial needs best at that time. Be sure to consult your tax advisor, local utility and solar installer on any incentives for which you may be eligible. 

Term & Rate Structure Loan Term Maximum Loan Amount Lowest Possible Rate
Residential Solar Term Loan 0 - 12 years $70,000 8.74% APR*
Residential Solar Term Loan >12 - 20 years $70,000 9.24% APR*

*APR = Annual Percentage Rate. Rates as of May 1, 2024 and are the lowest possible rates for qualified buyers and are contingent on auto-pay from a qualifying account. Lowest possible rate without automatic payments is 9.24% APR. Borrowers are subject to the interest rate at the time of loan closing. Program includes a one-time $750 origination fee. All loan programs, rate, terms and conditions are subject to change at any time.

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Our Process

We work at your pace. Our financing process from application to funding can be completed quickly – in as few as five business days. However, if you need more time, pre-approvals are valid for 120 days following the date of application.


Completed online or over the phone, set aside 10-15 minutes

Review and Decision

Greenpenny contacts applicants within 24 business hours

Document Submission

Includes applicant identity and income verification; submit through a secure portal.

Loan Closing

Completed online in minutes

Funds Delivered

Borrower receives funds within 1-3 business days following closing

1st Payment Due

Up to 45 days following loan closing; timing is determined by borrower

Application Tips

  • Set aside 10-15 minutes to complete your online loan application.
  • You will need to provide the following for each applicant: date of birth, a U.S. social security number, valid form of photo ID such as driver’s license, passport or other government-issued ID.

Apply Now

Solar Installers

Interested in learning more about offering greenpenny solar financing to your customers? Learn more about how we work with partners by visiting our Solar Installers page at the link below.

Learn More 


Questions? We’re here!

We have real people here to answer your questions and provide full support. When you need us, use our Online Chat, call customer service, or send a secure email.

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