Frequently Asked Questions

The solar market is changing, and traditional financing hasn’t kept up. Many solar loans come with confusing terms and hidden dealer fees that can add thousands to the cost of a system. Recent filings by state attorneys have revealed "disguised" excessive fees as high as 54%. This leaves homeowners with a less-than-ideal solution.
We created SOLOC™ (Solar Ownership Line of Credit) to change that. By providing a transparent, flexible, and powerful financing option, we empower homeowners to take control of their energy and truly own their solar future. 

SOLOC™ stands for Solar Ownership Line of Credit. It’s a financing solution designed to make solar ownership simple, flexible, and affordable. Unlike traditional loans, SOLOC™ provides homeowners with a dedicated credit line that can fund not only solar installations but also related home improvements, debt consolidation, and other priority projects. 

We believe that solar financing should be as straightforward as a sunny day. Our Solar Ownership Line of Credit is designed to give you a modern, simplified path to solar ownership.

• Simplicity: Skip the appraisal hassle with our 100% online application. Get approval in as little as 5 minutes and funding in as few as 5 days.
   
• Transparency: Our payment schedule and fees are clear, with no surprises or hidden costs. Unlike traditional loans with high dealer fees, SOLOC™ has a $0 dealer fee, providing a straightforward, predictable path to ownership.
   
• Flexibility: Choose your loan amount and payment terms, with no prepayment penalty. You get access to your full approved loan amount — use it to install solar panels, upgrade your home, consolidate high-interest debt, or fund any other priority projects.
   
• Savings: SOLOC™ offers a lower rate and longer terms than many personal and solar loans, resulting in a significantly lower monthly payment.
   
• Tax Benefits: SOLOC’s interest may be tax-deductible, providing additional potential savings.

• Approval in as little as 5 minutes
   
• Funding in as few as 5 days
   
• Easy online notary services with expert assistance
   
• Fixed interest rate
   
• Borrow up to $400,000
   
• Licensed loan officer support
   
• Easier approvals, better terms, and lower rates
   
• Flexible use of your full approved credit line (including solar, home improvements, or debt consolidation)

Easier approvals, better terms, and lower rates. SOLOC™ gives you the greater borrowing flexibility you need to own your energy future.

Many homeowners don’t realize that solar leases can create real headaches when it comes time to sell your home. Unlike SOLOC™, which gives you full ownership and flexibility, a solar lease is tied directly to your property. That means if you want to sell, the buyer must qualify to assume the lease. If they don’t, you may be forced to buy out the remaining lease balance—often tens of thousands of dollars—just to close the sale.

Consider this: 25% of potential homebuyers have a FICO score under 650 (5% between 500–549, 8% between 550–599, and 12% between 600–649). These buyers could be immediately disqualified from purchasing your home if your solar lease requires a minimum credit score of 650. That’s a significant chunk of the market, and it could seriously limit your pool of buyers. And that’s assuming that buyers want to take over your 25-year lease obligation in the first place.

With SOLOC, there’s no lease to transfer, no buyer qualification issues, and no buyout required. You maintain full ownership of your solar system while keeping your home sale process smooth and straightforward. Plus, SOLOC gives you a flexible credit line for solar, home improvements, or debt consolidation—making it the smarter, more versatile choice for homeowners who want both savings and peace of mind.

• Full ownership: With SOLOC™, you own your solar system outright. Leasing keeps the solar panels under the provider’s ownership.
   
• Flexible use of funds: Access your full approved line for solar, home improvements, or debt consolidation — not available with a lease.
   
• No monthly lease increases: SOLOC™ gives a fixed interest rate and payment; leases can include escalator clauses.
   
• Potential tax benefits: SOLOC’s interest may be deductible, unlike lease payments.
   
• Transparent costs: No hidden dealer fees or surprise charges.

• No ITC dependency: Sunlight loans are tied to the Investment Tax Credit, limiting flexibility. SOLOC™ works regardless of tax credits.
   
• No dealer fees: Sunlight charges significant fees; SOLOC™ keeps costs transparent and has no dealer fees.
   
• Flexible credit line: Access your full approved loan amount — use it for solar, home improvements, paying down high-interest debt, or other priorities.
   
• Tax-deductible interest: SOLOC’s interest may be deductible.

• No ITC dependence: GoodLeap assumes you claim the ITC; SOLOC™ doesn’t rely on the tax credit and lets you keep it if you do qualify
   
• No dealer fees: GoodLeap adds hefty dealer fees; SOLOC™ has none.
   
• Full credit access: Decide how much to use and for what — solar, home improvements, debt consolidation, or more.
   
• Tax-deductible interest: Reduces your effective borrowing cost.

• Fully Digital and Fast: Climate First follows standard bank underwriting, often taking weeks. SOLOC™ is fully digital and fast — completing approvals online in minutes.
   
• Flexible usage: Climate First typically restricts loans to the project; SOLOC™ lets you choose how much and how to use it — including solar, home upgrades, or debt consolidation.
   
• Tax-deductible interest: Adds potential savings for homeowners.

• Speed: SOLOC™ funds in days; Concert usually takes weeks.
   
• Longer terms & flexibility: Concert only goes up to 25 years and requires full documentation. SOLOC™ offers flexible terms up to 30 years.
   
• Full credit line access: Use your approved loan for solar, home improvements, debt consolidation, or anything else.
   
• Tax-deductible interest: Unlike standard loans, SOLOC™ interest may be deductible..

• Fast and fully digital:  Approval in minutes, funding in days—not weeks
   
• No hidden dealer fees: Keeps your costs low
   
• Flexible credit line: Spend how you want — solar, home projects, debt, or other priorities
   
• Not tied to ITC: Your loan works whether or not you claim tax credits
   
• Tax-deductible interest: Potential savings on top of financing benefits