Financing Solar in Washington: Your Guide to Affordable Clean Energy
Worried about the upfront cost of going solar? You’re not alone. Thankfully, financing your solar panel system—and adding battery storage or a SPAN smart panel—is easier than ever for Washington homeowners. With support from trusted, mission-driven lenders like Puget Sound Cooperative Credit Union (PSCCU) and Climate First Bank, you can invest in a more resilient, efficient home without paying out of pocket.
What HR1 and the ITC Phase-Out Mean for Your Solar ROI
The recently passed House Resolution 1 (HR1), also known as the “One Big Beautiful Bill,” dramatically alters the landscape for clean energy in the U.S. by scaling back support for solar and wind technologies that made up over 90% of new energy deployments in recent years. Combined with the planned phase-out of the 30% Federal Investment Tax Credit (ITC) starting in 2026, this creates two immediate consequences for homeowners:
Rising Electricity Prices
With fewer new renewable resources coming online, utility companies are expected to rely more heavily on fossil fuels, and the cost of electricity is anticipated to rise steeply, particularly in energy-intensive states like Washington.
30% ITC Cut
The Investment Tax Credit (ITC) is scheduled to drop from 30% to 0% on January 1st, 2026, for residential systems. That means thousands of dollars in potential savings will disappear for homeowners who cannot go solar this year, due to an accelerated cut to 0%, nine years ahead of the original phase-down timeline.
Solar Isn’t Going Anywhere
Solar energy remains one of the most powerful tools we have to create a cleaner, more resilient future—and it’s not going anywhere. Which is why we are excited to offer more financing products to help Washingtonians take control of their energy journey, whether with
Financing solar now allows you to:
- Reduce the upfront cost burden of going solar while locking in a predictable, lower monthly payment—often less than what you’d pay your utility as rates continue to rise
- Protect yourself from skyrocketing electricity prices as national energy policy reshapes the grid
- Power your lifestyle your way—with battery storage and smart panels that keep you in control
We understand that going solar is a considered purchase—one that takes time, research, and the right moment to make a confident decision. That’s why we’re stoked to offer flexible financing options that make it easier to go solar whenever the time is right for you—now or in the future, with or without a tax credit. Solar is the future—and we’re here to help you power it on your terms.
When Does Financing Your Solar or Battery Project Make Sense?
Financing your solar, battery, or SPAN project can be a smart move, especially when your monthly loan payments are equal to or less than your current utility bill. In this guide, we break down when it makes financial sense to finance your clean energy upgrade, how to factor in incentives, and why rising utility rates make locking in fixed payments even more attractive.
PSCCU
Puget Sound Cooperative Credit Union offers an Energy-Smart Loan explicitly tailored for projects like:
- Solar PV systems
- Home battery storage
- SPAN smart panels
Why it works:
- Up to $85,000 in financing
- Fixed interest rates as low as 7.25% APR
- Terms up to 20 years
- Available statewide
Plus, there’s no upfront payment required—you can start your project now and pay over time.
OneEthos: Ethical Lending for a Sustainable Future
OneEthos, a fintech affiliate of Climate First Bank, offers a seamless, transparent, and fully digital experience for financing solar, battery, and SPAN upgrades.
What makes them unique:
- No dealer fees (more money goes toward your system)
- 100% financing available
- Fixed-rate loans with terms up to 30 years
- Quick, consistent approvals—often within 30 seconds
Whether you have perfect credit or are just starting out, OneEthos offers inclusive lending to make clean energy accessible to more homeowners.
Include SPAN Smart Panels in Your Financing
Both PSCCU and OneEthos allow you to finance SPAN smart panels, which help future-proof your home by letting you:
- Monitor energy usage in real time
- Control circuits remotely during outages
- Maximize battery and solar system performance
By bundling SPAN into your loan, you make your home smarter and more efficient while avoiding extra upfront costs.
So, Is Financing Solar Worth It in Washington?
In most cases, yes — especially if:
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Your monthly solar loan payment is equal to or less than your current utility bill.
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You live in a utility territory with rising energy rates, like Seattle City Light or Puget Sound Energy.
Ready to Finance Your Next Energy Project?
Start your journey toward energy independence today:
- Get a free quote from Northwest Electric & Solar
- Review loan options with PSCCU or OneEthos
- Maximize federal and state incentives
Don’t let cost hold you back—finance your solar + battery + SPAN project the smart way, with local and ethical lenders who understand Washington homeowners.
Solar Financing in Washington FAQ
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Can batteries be included in the solar loan?
Yes, our Solar Loan Program allows batteries to be included in the financed amount. We also have a battery-only loan option.
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What is the maximum loan amount?
We currently do not have a maximum loan amount. However, loans of $350,000 or more will require full underwriting and additional financial documentation.
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What is the minimum loan amount?
The minimum loan amount is $10,000, which must go toward the solar/PV system.
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What is the minimum credit score required?
We require a minimum credit score of 680 Equifax.
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What debt-to-income (DTI) ratios are required?
We allow a maximum post-DTI ratio of 50%.
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Is there a price per watt cap?
Yes. The cap is $3.75 per watt for PV-only systems. No cap applies to adders.
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Is the credit pull hard or soft?
Prequalification involves a soft credit pull.
Submitting the full application triggers a hard credit pull.
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Are there any prepayment penalties?
No, we do not charge prepayment penalties.
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Is the customer required to apply their federal tax credit toward the loan?
No. Customers may keep and use their federal tax credit however they choose.
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What are the income verification requirements?
Acceptable documents include:
- Most recently filed tax return
- Most recent W-2
- Last two pay stubs
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When do loan payments begin?
Payments begin 6 months after loan documents are signed.
Principal & Interest (P&I) payments begin in month 7. The first 6 months are payment-free, but interest accrues.
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Can customers set up auto-debit from a non-CFB account?
Yes. Customers can authorize auto-debit during closing. If using an external bank, a voided check is required before closing.
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How does a bankruptcy affect loan eligibility?
Bankruptcies within the past 3 years result in a denial.
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Are manufactured homes eligible?
Yes, if the home is titled and affixed to the property.
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=Does the co-borrower need to be on the deed?
No. We do not require the co-borrower to be on the deed.
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Can roof replacement be included in the solar loan?
Yes, we allow roof replacement to be financed as part of the solar loan. The roof cost must be itemized separately on the contract.
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What items are not eligible for financing?
We do not finance the following items:
- Water heaters
- AC units
- Generators
- Pool pumps
- Windows
- Other unrelated home improvements
These items should not be listed on the solar contract.
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Do you allow loans for rental properties?
No, we do not allow rental properties. If a residential property is in an LLC, it must go through our commercial solar loan department, subject to different rates and terms.
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Can the home be held in an LLC?
Yes. Properties under an LLC will be processed by our commercial department.
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Which credit bureau do you use?
We currently pull credit from Equifax only.
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Is the loan transferable to a new homeowner?
No, the loan is not transferable. However, the new homeowner can apply for a new loan with us. In most cases, sellers will increase the home’s sale price to pay off the existing loan.
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Is there a UCC-1 filing on the loan?
Yes. We file a UCC-1 fixture filing at the state and county levels on the solar panels only.
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Can the property be held in a trust?
Yes. If the property is in a trust, the trustees must sign a landlord release form.
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Are mobile homes eligible for solar loans?
Mobile homes are eligible if they are titled and the customer owns the land.
