A solar loan finances your system — often with zero down — while you own the system and keep all incentives: the 30% ITC, MA SMART payments, and net metering credits. Monthly loan payments are typically less than your previous Eversource or National Grid bill, creating positive cash flow immediately for many MA homeowners.
MA-specific solar loan options include: GreenSky, Mosaic, Dividend Finance, GoodLeap, and MA-based credit unions like Digital Federal Credit Union (DCU) and Metro Credit Union that offer competitive solar financing to MA members.
A lease provides panels with no upfront cost — you pay a fixed monthly amount to the leasing company, which owns the system and handles maintenance. You don't claim the tax credit or SMART payments (the leasing company does). Lower monthly bills, no maintenance, but smaller long-term savings than ownership.
A PPA is similar to a lease but you pay for the electricity produced at a contracted rate below Eversource/National Grid retail. No upfront cost, no maintenance responsibility, and meaningful electricity savings — without the tax benefits of ownership.
For MA homeowners combining solar with energy efficiency upgrades (insulation, heat pumps), the MassSave HEAT Loan provides 0% interest financing for qualifying improvements. Ask your installer if your project qualifies — combining solar and insulation upgrades into a single HEAT Loan financed project can be a very cost-effective approach in MA.