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.

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.