Does your city offer solar financing?
When it comes to decreasing your home's carbon footprint, solar panels are a popular option, but transitioning to solar energy can be a big investment. That is why Center for Energy and Environment’s (CEE) lending department offers loans for installing residential solar panels for homeowners across Minnesota. CEE offers statewide solar loan programs through Minnesota Housing Finance Agency (MHFA), but that isn’t the only pathway to solar. CEE also offers a variety of local loan programs designed to benefit both city residents and the city itself that can be used for solar installations.
Local Programs for Solar
CEE currently partners with 19 cities and 20 neighborhoods to offer loan programs that help city residents make home improvements, including installing solar panels. By working with local communities to offer these programs, CEE hopes to expand access to solar energy across the metro area and help cities invest in their communities.
Cities that offer solar financing:
Blaine
Crystal
Edina
Elk River
Fridley
Minneapolis
Robbinsdale
Roseville
South St. Paul
Neighborhoods that offer solar financing:
Audubon Park
Cedar Riverside
East Phillips
Hawthorne
Lind Bohanon
Lowry Hill East
Marshall Terrace
Nokomis East
South Uptown
Southeast Como
St. Anthony West
Webber-Camden
Windom Park
Federal Solar Incentives
The Inflation Reduction Act will increase incentives and benefits for homeowners making energy efficiency upgrades, including installing solar panels. These incentives and benefits will mainly arrive in the form of tax credits and rebates. Tax credits of up to 30% will be available. To determine eligibility, we recommend working with your tax consultant. You can review this guide to the federal residential solar energy credit to learn more. Federal rebates for solar energy have not yet been set.
These city and neighborhood loan programs can also go beyond solar. Several offer programs for down payment assistance, emergency loans, and home improvement loans. You can find a full list of all available city and neighborhood financing options here. Finding a loan that is right for you can be daunting, but CEE has a team of loan officers that will help homeowners determine which program is the best fit for them and guide them through the application and approval process. For more information about CEE’s loan offerings, visit our lending page or call 612-335-5884.