Residential Solar Loans
The Residential Solar Loan Program provides low-interest loans to credit-qualified homeowners in Delaware to encourage the purchase of customer-sited, customer-owned renewable generation. Loans are available to credit-qualified Delaware residents who own a single-family home or duplex.
Here is a guide from the Delaware Department of Natural Resources and Environmental Control (DNREC) with some considerations when installing solar panels in Delaware.
Why own your solar system?
Advantages of owning your solar system versus leasing one:
- Save more money over the lifetime of the system (vs. leasing).
- Improve your home’s market value.
- Have more control over the design of your system.
- Take advantage of incentive programs like a 30% Federal Tax Credit.
- Earn extra income from the SREC Auction, which may enable you to sell excess solar energy back to Delmarva Power.
Available amounts: $5,000 – $30,000 (not to exceed 70% of total project cost)
Interest rate: 3.9%
Maximum term: 10 years
Qualifying systems must be installed by a Participating Contractor and designed to meet Green Grant Delaware program requirements for orientation, tilt and shading. For a more details about the program and how to apply, and to find a participating contractor, call 877-453-2327.