Special situations

Can I use a personal loan for solar panels?

Short answer

Yes, though specialty solar financing usually offers better rates. Companies like Mosaic, Sunlight Financial, and GoodLeap offer solar-specific loans with longer terms (15-25 years) and lower APRs (5-9%) than personal loans. Personal loans make sense for partial solar projects or when solar-specific financing is unavailable.

Context

Solar financing is its own niche because the systems qualify for federal tax credits (currently 30% of installed cost) and have predictable long-term electric-bill offsets. Solar-loan providers underwrite around the savings, which lets them offer better terms than general-purpose personal loans.

Where a personal loan wins: smaller solar projects under $15,000 (where solar-loan minimums kick in too high), DIY installations where you're sourcing equipment yourself, or supplemental funding for the gap between solar-loan amount and total project cost.

Editorial

Reviewed by: Compliance Review
Last reviewed: May 22, 2026

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