Naveo has partnered with The Massachusetts Department of Energy Resource and the Massachusetts Clean Energy Center to offer a low-interest Solar Loan program to qualified homeowners for the purchase and installation of solar electric projects.

  • Low interest rate
  • Borrow $5,000 to $60,000
  • Terms up to 20 years
  • Up to 12 months of interest-only payments during installation, followed by standard repayment term of 3 to 20 years.
  • For most loans up to $35,000, Naveo will file a lien for equipment under the Uniform Commercial Code (UCC-1) within the county the property is located.
  • For loans above $35,000 or for more than 10 years, Naveo will file a mortgage lien.
  • Receive a price quote from a pre-qualified Mass Solar Loan installer.
  • Select an installer and sign a solar installation contract.
  • Work with your installer to complete your Mass Solar Loan technical application online.
  • Provide your tax information online if you are applying for Income-Based Loan Support.
  • Once you receive your technical confirmation document via email, provide this information to Naveo to complete your loan application.
  • When your loan closes, Naveo advances you 35% of the loan to cover initial construction costs.
  • After your solar system is connected by your utility, your installer files your project completion documents.
  • When the project receives a completion approval from Mass Solar, we will call you to come in and complete additional loan documents.
  • Naveo disburses the final 65% of your loan to you and your installer.
  • Only solar electric (photovoltaic) systems owned by the resident are eligible.
  • Third-party lease or power purchase agreements for solar are NOT eligible.
  • Financing available on primary residences or vacation homes in Massachusetts only.
  • Loan recipients must meet Naveo-defined loan qualification standards.
  • Solar electric systems must be connected to the electricity distribution grid.
  • Solar electric systems may not have previously received incentives from the Massachusetts Clean Energy Center.
  • Borrowers must be eligible for and establish membership at Naveo Credit Union.

Massachusetts Department of Energy Resources

Massachusetts Clean Energy Center

*APR = Annual Percentage Rate (APR). Minimum loan amount $5,000.00. Maximum loan amount $60,000.00. Up to 12 months interest-only payments during construction period. All loans are subject to meeting Mass Solar Loan Program guidelines. Financing available on 1-4 family primary residences and vacation homes located in Massachusetts only. Financing is subject to credit approval. Additional terms and conditions may apply. Borrowers must be eligible for membership with Naveo.

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