Solar Energy Loan Financing for Contractors

Offer home improvement loans to customers with no hidden contractor fees or credit cards.

Promotional loans up to 24 months no payment or interest
15 year terms
No hidden contractor fees or credit cards
Instant approvals up to $100,000
Payment direct into your bank account via ACH
Close more projects & save you customers money

Solar energy is becoming an increasingly popular form of renewable and sustainable power given the electric bill cost savings as well as the environmental impact of reducing carbon footprint. While solar energy is becoming more acceptable, the costs and installation of solar panels, whether grid-tied systems, grid-tied systems with energy storage or off-grid systems are still an expensive home improvement project for homeowners.

As a solar contractor, offering solar financing gives you the power to make solar power more accessible for homeowners by providing long-term payment options at low monthly costs. Solar financing can help increase your profit by allowing the customer to purchase a system faster by using financing.

Close More Sales

Eliminate paying fees to banks and finance companies

Seamless Funding

Close more sales by focusing on low monthly payments

Sell More

No more compromising on price – upsell the project your customer really wants.

Benefits of Offering Solar Energy Loan Financing

Solar energy is a renewable, clean energy source that is not only environmentally friendly, but also provides an excellent investment opportunity and hedge against rising electricity prices for many homeowners.

Contractors and businesses often want to be environmentally conscious, but they may not have the capital necessary to offer solar financing to homeowners. Partnering with a loan financing company offers an easy way for contractors to help their clients take advantage of renewable energy without having to make a large upfront investment, helping to save money both now and in the future.

A Solar Energy Investment Will Save Your Clients From Rising Energy Costs

According to the US Department of Energy, American families spend upwards of $1500 per year on electricity. The average family spends nearly all that money from fossil fuel sources alone!

Installing a solar panel system for your clients today can save them up to 100% off their household’s monthly energy needs as well as significant lifetime savings over traditional fuels like coal or natural gas.

The energy-saving costs may even be enough to cover the monthly loan payments, making this investment even more affordable than your average homeowner may realize.

Good Financing Will Cover the Full Cost of High Quality Solar Systems, Regardless of Home Size

Depending on the size of a home, many different sizes of solar panels exist from 3kW or 5kW for smaller homes to 8kW or 10kW systems for larger residences. These solar panels can cost anywhere between $10,000-$25,000.

While solar panels will save customers energy costs in the long run, the initial investment can be too expensive for many homeowners. Partnering with a financial loan provider allows your customers to afford these power-saving devices without having to break their bank account.

Look for the following features when shopping around for a loan financing partner:

  • Low monthly fees & affordable interest rates (aim for an APR under 10%)
  • No contractor fees or penalties
  • A straight-forward application process
  • Payment terms extending up to 15 years
  • Soft credit pulls

Financing Allows Your Customers to Pay for Solar Energy Systems Outright, Making Them Eligible for Government Financial Incentives

The investment tax credit (ITC), also known as the federal solar tax credit, is a federal incentive for solar energy that allows both businesses and homeowners to deduct 26% of the installation cost of solar energy from their taxes.

By allowing them this deduction on top of monthly energy savings, you will add even more value to your clients by giving them an even greater return on their solar investment!

Allows You to Push for Environmentally-Conscious Home Improvements

Solar energy has never been more financially advantageous than it is now. Between government tax incentives and monthly energy savings, you can recommend a solar investment to your client for their home with confidence that they will get money back at the end of the day.

By encouraging clients to go green, not only will you be saving them money, but you will be actively helping to make all of us less dependent on fossil fuels for energy sources.

With a Lending Partner, You Can Offer Loan Applications Through Your Company & Website

Partnering with a financial lending service allows you to customize your website with links, iFrames, calculators, buttons and widgets in order for customers to easily apply for your home improvement finance offerings.

By including financing directly through your company, you’ll make home improvement even more simplified for your clients.

Offer Solar Energy Financing Approvals Quickly & Easily

A financial lending partner can help with solar energy financing for your customer’s home by providing approvals in as little as 60 seconds for up to $100,000 without hidden fees or penalties.

With a quick, secure, and easy to use online application system, the process will be fast and simple for both you as a merchant and your clients applying.

Home Improvement Services

Interior Remodeling Loans

Interior renovation and remodeling for new rooms and additions for anything inside your home.

Flooring Loans

Upgrade your floor with tile, hardwood, natural stone, porcelain, etc. includes material and installation.

Electrical Loans

From repairs to the entire home rewiring inside and outside.

Foundation Waterproofing Loans

Interior and Exterior waterproofing and foundation repairs – french drains, sump pumps and more.

Whole House Generator Loans

Loans for whole home generators from Generac, Cummins, Briggs & Stratton, Kohler and more.

Gutter Loans

Gutter replacement and gutter cover systems.

Attic Insulation Loans

Attic Insulation or wall insulation for any energy efficiency project.

Interior Remodeling & Addition Loans

Renovate or remodel rooms in your home or build an addition.

Lighting Loans

Exterior and Interior lighting including security and smart homes.

Paint & Wall Covering Loans

Interior and Exterior painting and wall coverings.

Sheds, Barns & Structures

Sheds, Barns and Structures affixed to the property.

Security & Home Automation Loans

Security and Home Automation includes audio and video, smart home, automated blinds, thermostats and more.

Sunroom & Patio Enclosure Loans

Sunrooms, Patio Enclosures, She Sheds, ADU’s and more.

Water Treatment Loans

Water filtration and water treatments.

Solar Energy Loan Financing FAQ

What Is the Best Way for My Clients to Finance Solar Energy?

The best way to finance solar energy for your clients is with a home improvement loan or credit line from a lending partner. It may be tempting to offer the financing yourself, but that can mean having to chase your clients around for payment and waiting to be paid over time instead of in one lump sum. Plus, it will take time away from what you do best – installing high-quality systems!

Is It Worth It for My Clients to Finance Solar Installation?

Yes! Financing solar power for your clients can be a great way to make sure they’re able to afford the project and that it gets done quickly and on time. It’s also beneficial because financing has very low upfront costs, which means you won’t need as much of an investment from your client in order to design and install their system. Not to mention the energy cost-savings they’ll experience monthly and the government tax credit for solar installation are added benefits.

Do I Need to Offer Solar Financing?

If you’re considering solar power installation for your clients, then the answer is yes. You’ll want to offer financing in order to make sure that your clients can afford and get their system installed without any upfront costs from them or additional work on your part.

It’s worth offering solar financing as a contractor because:

  • You’ll get paid the full cost of the project upfront, saving you time
  • Some lending partners offer no contractor fees, saving you money towards your bottom-line
  • Lending partners will handle repayment of the loan from your clients, saving you the hassle of having to chase them around
  • Solar power systems provide lower monthly payments than utility companies do, which gives you a great selling point to encourage the installation of a new system with potential new clients.

What Kind of Time Investment is Required to Offer my Solar Energy Clients Financing Options?

Securing a loan through your financial institution, like a bank, can require a significant amount of your time, but some lending partners make it simple, getting you fully set up to offer financing from a few hours to a single business day.

A great lending partner should offer contractor a few things:

  • An easy enrollment process
  • Trains you and your team on how to use the software and sell solar financing
  • Offers competitive solar financing programs and solar panel promotions

PowerPay FAQ

What’s considered a home improvement?

Any equipment, service, installation costs, or other project related to home improvement qualifies for financing. The following is a partial list of what PowerPay finances: HVAC equipment & installation, attic insulation, stone veneer, windows, siding, roofing, kitchen remodels, bathroom remodels, cabinets, carpet, deck & patio, doors, fireplaces, garage doors, smart home equipment & installation, hardwood flooring, paint & wall coverings, hardscaping, landscaping, siding & exteriors, tile, stone & countertops, air conditioning & heating, gutters, spa & pool, home additions, deck building, tile installation, basement remodeling, custom cabinets, fence installation, lighting installation, garage building, cabinet installation, backsplash installation, electrical and plumbing and appliances.

What Loan Products does PowerPay offer?

Base Program
  • No Dealer Fee Options
  • Rates start as low as 8.99%
  • staged funding available*
  • terms options are 5, 10 or 15 years (lowest monthly payment)
  • no prepayment penalties
  • no credit cards
Promotional Program
  • Up to 18 Months NO payments NO accrued interest (12-month or 18-month options)
  • Deferral Period begins at the completion of construction
  • 15 Year Product
  • NO Balloon Payment: at the end of the deferral period your customer just begins making their low monthly payment with rates as low as 8.99%
  • NO Credit Card

Why should I offer financing?

50% of all home improvement investments over $5,000 are financed. Additionally, over 30% of all homeowners research financing options before making a home improvement purchase. Offering financing enables you to close more sales and earn more money on every job. By translating a large, expensive home improvement into a low monthly payment, you’re less likely to lose sales because of pricing, and you’re less likely to see customers haggling with you over costs. Quite simply, offering financing can help you to grow your business.

Why do dealers and contractors choose PowerPay?

We were founded by a home improvement professional who knows firsthand the power of financing, as well as the damage fees can do to your bottom line and your customers’ pocketbooks. The average contractor pays 7.5% in fees on every financed home improvement project. That’s why we have no hidden contractors fees, credit cards or prepayment penalties.  There are other important benefits for dealers:

  1. Longest Terms:  PowerPay also offers the longest payment options – up to 15 years.
  2. Lowest Rate: rates start as low as 8.99%.
  3. Maximum Loan: we can offer up to $100,000 loans with staged funding for qualified contractors.
  4. Higher Approval Rates: tired of declines?  PowerPay has the highest approval rate in the industry.
  5. Fast and Direct Payments:  we wired funds fast direct to via ACH to your bank account.
  6. New Programs:  we are adding new programs to help you convert more customers, StipPay, APR Enhancement and more!

How do customers pay me and what’s my risk?

Customers don’t pay you. PowerPay will direct deposit funds into your account via ACH within 48-hours after the install. You keep 100% of the funds, and your payment is guaranteed when you complete the project. It’s simple, fast and easy. No more collection calls and chasing clients for payments.

How does PowerPay work?

By using PowerPay, you are giving your customers options to pay for home improvements with financing.  Your customer will apply online using our online application form and a decision is generated in seconds.  Once approved, you can complete the transaction with your customer from our easy-to-use portal.  Electronic documents will be sent via email and your customer can sign electronically – we are fully paperless.  Your customer won’t get any bills for a month or so after installation.  You will get paid by PowerPay in full after the installation is complete.

How do I offer PowerPay to my customers?

There are a number of ways to offer PowerPay to your customers:

First, your clients can apply at
Second, we can supply you with a link or button for you to add on your website.
Third, customers can apply by contacting our call center and using your dealer/contractor ID.
Finally, your salespeople can provide a link to apply or use a tablet with our application form during in-person visits.

Who is the lender?

While other finance companies serve as “middlemen” and take fees from you for allowing you to offer financing to your customers, PowerPay does not act as a middleman or lead generator. That’s why we are able to not charge any fees.  We have funding commitments for $15 billion.  Every borrower is approved through our systems and all loans are processed through our system. That means that we control the rate and loan term, and service every loan.

How complicated and time consuming is set up?

With PowerPay, enrollment is through a simple form that takes 2 minutes.  After that, our team will train and onboard you or your salespeople at no cost at a time that’s convenient for you.  Our process is so simple that training takes less than 30 minutes.  We can have you up and running and writing loans in one day.

Promotional Programs - the difference between PowerPay and other banks

There are several types of promotional loans. PowerPay offers two types.  Same as Cash and 12 months and 18 months no payment promotions.  First, PowerPay promotional loans are not credit cards.  They are unsecured personal installment loans.  The main difference between a credit card loan and PowerPay promotion is the interest rate once the promotion is over.  In most credit card “teaser” promotions that rate, once the promotion ends, will be in excess of 29%.  Our loans, once the promotion ends will be approximately 12.99% for 10 years with no prepayment penalties so customers can pay off whenever they like.  We don’t like the credit card promotions because the fees are excessive and we’ve seen too many people get hit with accelerated payments and massive fees.  It’s just unfair and most contractors don’t seem to care what the customer pays after they’ve completed their job.

With uncertainty in the economy and financial markets we believe that if a customer wants to use the promotion and then pay it over time, it should be at a fair and reasonable rate.  Most contractors and dealers offer “teaser” promotions as a marketing tool but at the end of the day, only consumers will above-average credit qualify.  PowerPay offers promotions for customers at many credit levels.

Our same as cash promotions essentially allow the customer to make a purchase and pay off the loan in equal monthly installments similar to how you purchase an iPhone.  These programs are offered with the lowest fees in the industry.  Ask your sales rep for more information.

Enroll Today! Use Tomorrow!

PowerPay Partners