SOLAR LOANS. YOUR ROOF, YOUR RULES.

Solar panels can be useful anywhere the sun shines. Many Minnesotans can produce sustainable electricity at home with a rooftop solar power system.

And solar loans are here to make it easier.

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Cynthia - Solar@2x
Cynthia, Affinity Plus Member

Solar Perks

Cost Savings

Panels can pay you back in as few as 7 years. The typical 25-year projected savings for Minnesotans is $41,155.

Estimate your savings.

Lasting Power

Solar panel systems usually last at least 25 years without needing any upkeep.

We offer loan terms of 5, 10 and 15 years.

Energy Independence

Get some freedom from rising energy costs. Solar panels power your home with the sun’s energy, so you’re saving anytime the sun shines.

Typical project sizing, cost and production comes from an Eutectics Consulting LLC survey of more than 80 Minnesota residential solar projects, completed from 2016 to 2018.

Loan Options

Personal Solar Loan

This personal secured loan uses the solar equipment as collateral.

  • $40,000 max loan amount
  • Fixed rates starting at 7.99% APR.1
  • 5, 10 and 15-year terms available
  • Quick, easy transaction
Apply Now Loan Details

Home Equity Solar Loan

This loan allows you to leverage the equity in your home to fund the solar system installed on it.

  • $100,000 max loan amount
  • Fixed rates starting at 6.149% APR.2
  • 5, 10 and 15-year terms available
  • Great for people with built up home equity, or larger projects
Apply Now Loan Details
A Proud CU Green Partner

We're in it together.

CU Green is a collaborative effort by leading MN credit unions. We want solar panels to be within reach for anyone who wants to get started. Learn more about solar power, your home’s suitability, trusted installers, incentives and lifetime savings at CU-Green.org →

Personal Solar Loan Disclosures

  1. APR = Annual Percentage Rate. Effective August 1, 2023, the fixed APR of 7.99% is available for a 5-year Solar Loan up to $20,000. Actual rate will vary based on term of the loan, credit score, and amount borrowed. Loan payment example: A loan for 5 years at 7.99% APR will result in an approximate monthly payment of $20.70 per $1,000 borrowed.

Home Equity Solar Loan Disclosures

  1. APR = Annual Percentage Rate. Effective March 1, 2024, the fixed APR of 6.149% is available for a 5-year Home Solar Loans up to $100,000 with loan-to-value of 80% or less. Actual rate will vary based on term of the loan, credit score, and loan-to-value. Loan payment example: A loan for 5 years at 6.149% APR will result in an approximate monthly payment of $19.21 per $1,000 borrowed. Payment example does not include amounts for taxes and insurance premiums. The monthly payment obligation will be greater if taxes and insurance are included.

    The APR offered on the Home Solar Loan is the Fixed Home Equity Loan rate less a discount. To qualify for the rate discount, borrowers must provide required documentation of a qualifying solar installation, as follows:

    1. Customer Installation Agreement or similar proposal from a NABCEP-certified solar installer specifying solar PV modules, inverter(s) and other system components
    2. Solar Site Plan, showing specific address of project and specific installation location(s)
    3. A complete Monthly Utility Bill from one of the most recent 6 months
    4. Current Solar*Rewards Acknowledgement Letter from Xcel Energy, when applicable
    5. Most recent Federal 1040 Tax Return and supporting paystubs indicating that the property owner can realize the nonrefundable Federal Residential Solar Tax Credit